Johnson & Johnson (NYSE:JNJ) Stock Price Up 0.7% After Analyst Upgrade

Johnson & Johnson (NYSE:JNJGet Free Report)’s stock price rose 0.7% on Wednesday after Barclays raised their price target on the stock from $159.00 to $166.00. Barclays currently has an equal weight rating on the stock. Johnson & Johnson traded as high as $151.86 and last traded at $151.45. Approximately 1,567,021 shares traded hands during trading, a decline of 83% from the average daily volume of 9,421,740 shares. The stock had previously closed at $150.38.

Several other analysts also recently commented on the company. Stifel Nicolaus reduced their price objective on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Raymond James lowered their target price on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Morgan Stanley lowered their price target on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Finally, Leerink Partners lowered their target price on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.44.

Read Our Latest Report on Johnson & Johnson

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, Director Mark A. Weinberger acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the purchase, the director now directly owns 1,000 shares in the company, valued at $147,220. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Johnson & Johnson

Hedge funds and other institutional investors have recently modified their holdings of the company. MOKAN Wealth Management Inc. bought a new position in Johnson & Johnson in the 4th quarter valued at about $1,739,000. Blue Zone Wealth Advisors LLC increased its position in shares of Johnson & Johnson by 8.1% in the fourth quarter. Blue Zone Wealth Advisors LLC now owns 1,727 shares of the company’s stock worth $250,000 after acquiring an additional 130 shares in the last quarter. Waypoint Wealth Partners Inc. lifted its position in shares of Johnson & Johnson by 43.3% in the 4th quarter. Waypoint Wealth Partners Inc. now owns 10,820 shares of the company’s stock valued at $1,565,000 after acquiring an additional 3,267 shares in the last quarter. Hourglass Capital LLC raised its stake in Johnson & Johnson by 12.6% during the 4th quarter. Hourglass Capital LLC now owns 8,960 shares of the company’s stock valued at $1,296,000 after purchasing an additional 1,000 shares during the period. Finally, VeraBank N.A. lifted its holdings in shares of Johnson & Johnson by 14.0% in the fourth quarter. VeraBank N.A. now owns 13,905 shares of the company’s stock valued at $2,011,000 after purchasing an additional 1,705 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 1.1 %

The business has a fifty day moving average price of $147.73 and a two-hundred day moving average price of $156.10. The firm has a market cap of $367.82 billion, a PE ratio of 22.97, a P/E/G ratio of 2.45 and a beta of 0.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79.

Johnson & Johnson (NYSE:JNJGet Free Report) last issued its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share 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 for the quarter, compared to the consensus estimate of $22.44 billion. During the same quarter in the prior year, the company earned $2.29 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts anticipate that Johnson & Johnson will post 10.56 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a yield of 3.25%. Johnson & Johnson’s payout ratio is 74.59%.

Johnson & Johnson Company Profile

(Get Free Report)

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.

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