Wells Fargo & Company Lowers Johnson & Johnson (NYSE:JNJ) Price Target to $152.00

Johnson & Johnson (NYSE:JNJ) had its price target reduced by stock analysts at Wells Fargo & Company from $166.00 to $152.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 3.57% from the company’s current price.

JNJ has been the subject of several other research reports. Bank of America dropped their price objective on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating for the company in a report on Thursday. Barclays reduced their price objective on Johnson & Johnson from $160.00 to $159.00 and set an “equal weight” rating on the stock in a research note on Tuesday. StockNews.com lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 17th. 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. Finally, Guggenheim boosted their target price on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $170.06.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $146.76 on Thursday. The business has a 50 day simple moving average of $147.99 and a 200 day simple moving average of $155.98. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. 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 one year low of $140.68 and a one year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data 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. Johnson & Johnson had a return on equity of 34.35% and a net margin of 18.20%. The company had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22,438,500 billion. During the same period last year, the business earned $2.29 earnings per share. The business’s revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts forecast that Johnson & Johnson will post 10.56 EPS for the current fiscal year.

Insider Activity at Johnson & Johnson

In other news, Director Mark A. Weinberger bought 1,000 shares of the stock in a transaction on Thursday, December 12th. The stock was purchased at an average price of $147.22 per share, with a total value of $147,220.00. Following the completion of the purchase, the director now 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 legal filing with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Johnson & Johnson

Several institutional investors and hedge funds have recently made changes to their positions in JNJ. Summit Wealth Partners LLC lifted its position in Johnson & Johnson by 0.6% in the 2nd quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock worth $1,463,000 after buying an additional 61 shares during the last quarter. Powers Advisory Group LLC lifted its holdings in shares of Johnson & Johnson by 0.6% in the 3rd quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock worth $1,538,000 after acquiring an additional 61 shares during the last quarter. Eagle Wealth Strategies LLC boosted its stake in shares of Johnson & Johnson by 2.8% in the 3rd quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock valued at $372,000 after purchasing an additional 63 shares in the last quarter. Knuff & Co LLC grew its holdings in shares of Johnson & Johnson by 0.7% during the 3rd quarter. Knuff & Co LLC now owns 9,466 shares of the company’s stock valued at $1,534,000 after purchasing an additional 64 shares during the last quarter. Finally, Perkins Coie Trust Co raised its position in Johnson & Johnson by 1.8% in the 3rd quarter. Perkins Coie Trust Co now owns 3,705 shares of the company’s stock worth $600,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds 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.