Citigroup Has Lowered Expectations for Johnson & Johnson (NYSE:JNJ) Stock Price

Johnson & Johnson (NYSE:JNJ) had its price target lowered by research analysts at Citigroup from $185.00 to $175.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 19.67% from the company’s current price.

JNJ has been the subject of several other research reports. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Guggenheim increased their price target on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Wolfe Research began coverage on Johnson & Johnson in a research report on Friday, November 15th. They issued an “outperform” rating and a $190.00 price target for the company. Royal Bank of Canada increased their price target on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Bank of America reiterated a “neutral” rating and issued a $166.00 price target on shares of Johnson & Johnson in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.73.

Johnson & Johnson Trading Down 0.3 %

NYSE:JNJ opened at $146.23 on Wednesday. The business has a fifty day moving average of $157.29 and a 200-day moving average of $156.35. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The stock has a market cap of $352.07 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 2.66 and a beta of 0.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter last year, the business posted $2.66 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Equities analysts predict that Johnson & Johnson will post 9.93 earnings per share for the current year.

Insider Transactions at Johnson & Johnson

In other news, Director Mark A. Weinberger purchased 1,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost of $147.22 per share, with a total value of $147,220.00. Following the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $147,220. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Johnson & Johnson

A number of hedge funds and other institutional investors have recently made changes to their positions in JNJ. International Assets Investment Management LLC raised its stake in shares of Johnson & Johnson by 20,130.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock worth $559,832,000 after purchasing an additional 3,437,397 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Johnson & Johnson by 506.9% during the 2nd quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock valued at $567,826,000 after acquiring an additional 3,244,862 shares during the last quarter. Ninety One UK Ltd increased its holdings in shares of Johnson & Johnson by 59.0% during the 2nd quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock valued at $980,579,000 after acquiring an additional 2,489,925 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Johnson & Johnson by 228.1% during the 3rd quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company’s stock valued at $549,223,000 after acquiring an additional 2,356,359 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Johnson & Johnson by 10.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock valued at $2,744,979,000 after acquiring an additional 1,831,751 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Company Profile

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.