Raymond James Lowers Johnson & Johnson (NYSE:JNJ) Price Target to $165.00

Johnson & Johnson (NYSE:JNJ) had its price target dropped by investment analysts at Raymond James from $170.00 to $165.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ target price would indicate a potential upside of 12.43% from the stock’s previous close.

Several other equities analysts have also recently issued reports on JNJ. Citigroup lowered their price objective on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Bank of America reduced their price objective on Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating for the company in a report on Thursday. Barclays dropped their price target on shares of Johnson & Johnson from $160.00 to $159.00 and set an “equal weight” rating on the stock in a report on Tuesday. StockNews.com downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 17th. Finally, Morgan Stanley boosted their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $170.06.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $146.76 on Thursday. The stock’s 50 day moving average is $147.99 and its 200 day moving average is $155.98. The company has a market capitalization of $353.34 billion, a P/E ratio of 22.07, a PEG ratio of 2.45 and a beta of 0.51. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $168.85. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.05. The firm had revenue of $22.52 billion during the quarter, compared to analyst estimates of $22,438,500 billion. Johnson & Johnson had a return on equity of 34.35% and a net margin of 18.20%. Johnson & Johnson’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.29 EPS. On average, equities research analysts predict that Johnson & Johnson will post 10.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Johnson & Johnson

In related news, Director Mark A. Weinberger acquired 1,000 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was acquired at an average price of $147.22 per share, with a total value of $147,220.00. Following the acquisition, 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 purchase was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Johnson & Johnson

Hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC raised its holdings 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 acquiring an additional 3,437,397 shares in the last quarter. Janus Henderson Group PLC increased its position in Johnson & Johnson by 228.1% in the third quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company’s stock worth $549,223,000 after purchasing an additional 2,356,359 shares during the last quarter. Franklin Resources Inc. raised its stake in 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 purchasing an additional 1,729,281 shares in the last quarter. Holocene Advisors LP purchased a new position in shares of Johnson & Johnson in the 3rd quarter worth $225,040,000. Finally, FMR LLC increased its holdings in shares of Johnson & Johnson by 7.4% in the 3rd quarter. FMR LLC now owns 18,316,920 shares of the company’s stock worth $2,968,440,000 after buying an additional 1,265,748 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

About Johnson & Johnson

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.