Johnson & Johnson’s (JNJ) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Johnson & Johnson (NYSE:JNJ) in a research report report published on Monday, Benzinga reports. The firm currently has a $215.00 price target on the stock.

Several other brokerages have also weighed in on JNJ. Daiwa America lowered shares of Johnson & Johnson from a strong-buy rating to a hold rating in a report on Tuesday, July 23rd. The Goldman Sachs Group cut their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a neutral rating on the stock in a report on Friday, July 19th. TD Securities cut their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. TD Cowen cut their price objective on shares of Johnson & Johnson from $195.00 to $185.00 and set a buy rating on the stock in a report on Thursday, July 18th. Finally, Royal Bank of Canada reaffirmed an outperform rating and issued a $175.00 target price on shares of Johnson & Johnson in a research note on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson has a consensus rating of Moderate Buy and an average target price of $173.21.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $167.02 on Monday. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The firm’s 50 day moving average is $159.98 and its 200-day moving average is $153.98. The firm has a market capitalization of $401.96 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 2.71 and a beta of 0.53. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. During the same period in the prior year, the business earned $2.80 earnings per share. Johnson & Johnson’s quarterly revenue was up 4.3% on a year-over-year basis. Sell-side analysts forecast that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is 30.92%.

Insider Transactions at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Johnson & Johnson

Several large investors have recently made changes to their positions in the stock. Summit Wealth Partners LLC boosted its holdings in Johnson & Johnson by 0.6% during the second quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock worth $1,463,000 after purchasing an additional 61 shares during the last quarter. Citizens & Northern Corp boosted its holdings in Johnson & Johnson by 3.5% during the second quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock worth $275,000 after purchasing an additional 63 shares during the last quarter. Carolinas Wealth Consulting LLC boosted its holdings in Johnson & Johnson by 0.4% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 16,861 shares of the company’s stock worth $2,643,000 after purchasing an additional 64 shares during the last quarter. Epic Trust Investment Advisors LLC boosted its holdings in Johnson & Johnson by 3.6% during the second quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock worth $268,000 after purchasing an additional 64 shares during the last quarter. Finally, Pine Harbor Wealth Management LLC boosted its holdings in Johnson & Johnson by 1.9% during the second quarter. Pine Harbor Wealth Management LLC now owns 3,472 shares of the company’s stock worth $507,000 after purchasing an additional 64 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.