Leerink Partners Lowers Johnson & Johnson (NYSE:JNJ) Price Target to $169.00

Johnson & Johnson (NYSE:JNJ) had its price target cut by equities research analysts at Leerink Partners from $182.00 to $169.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Leerink Partners’ price objective would indicate a potential upside of 15.16% from the stock’s previous close.

Several other analysts have also recently weighed in on JNJ. Wolfe Research initiated coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective on the stock. Stifel Nicolaus lowered their price target on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday. Citigroup cut their price objective on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada boosted their target price on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average price target of $170.06.

Johnson & Johnson Trading Up 0.1 %

Shares of JNJ stock opened at $146.76 on Thursday. The company has a market capitalization of $353.34 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 2.45 and a beta of 0.51. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $168.85. The business’s fifty day moving average is $147.99 and its 200 day moving average is $155.98. 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 issued its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. The firm had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22,438,500 billion. Johnson & Johnson had a return on equity of 34.35% and a net margin of 18.20%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $2.29 EPS. On average, equities research analysts anticipate that Johnson & Johnson will post 10.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mark A. Weinberger purchased 1,000 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $147,220. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp grew its holdings in Johnson & Johnson by 0.9% in the third quarter. State Street Corp now owns 134,245,811 shares of the company’s stock worth $21,755,874,000 after purchasing an additional 1,154,088 shares during the period. Geode Capital Management LLC increased its position in Johnson & Johnson by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock valued at $9,064,149,000 after buying an additional 1,004,763 shares in the last quarter. FMR LLC raised its stake in Johnson & Johnson by 7.4% during the third quarter. FMR LLC now owns 18,316,920 shares of the company’s stock valued at $2,968,440,000 after buying an additional 1,265,748 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Johnson & Johnson by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after acquiring an additional 102,502 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Johnson & Johnson by 11.4% during the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after acquiring an additional 1,729,281 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.