Brokerages Set Johnson & Johnson (NYSE:JNJ) Target Price at $175.94

Shares of Johnson & Johnson (NYSE:JNJ) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $175.94.

JNJ has been the topic of several recent analyst reports. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Wolfe Research initiated coverage on Johnson & Johnson in a research note on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective for the company. Morgan Stanley raised their target price on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada boosted their price target on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $155.75 on Friday. 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 has a 52 week low of $143.13 and a 52 week high of $168.85. The stock’s 50-day moving average price is $159.98 and its 200-day moving average price is $156.36. The stock has a market capitalization of $374.99 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 2.76 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business earned $2.66 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts expect that Johnson & Johnson will post 9.93 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.18%. Johnson & Johnson’s payout ratio is 71.78%.

Insider Activity

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This trade represents a 22.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Johnson & Johnson

Several large investors have recently made changes to their positions in the stock. Summit Wealth Partners LLC increased its position in shares of Johnson & Johnson by 0.6% during the second quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock valued at $1,463,000 after purchasing an additional 61 shares during the period. Powers Advisory Group LLC boosted its holdings in Johnson & Johnson by 0.6% during the third quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock valued at $1,538,000 after purchasing an additional 61 shares in the last quarter. Citizens & Northern Corp grew its stake in shares of Johnson & Johnson by 3.5% in the 2nd quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock valued at $275,000 after purchasing an additional 63 shares during the period. Eagle Wealth Strategies LLC raised its holdings 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 worth $372,000 after buying an additional 63 shares in the last quarter. Finally, Epic Trust Investment Advisors LLC lifted its position in shares of Johnson & Johnson by 3.6% during the 2nd quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock worth $268,000 after buying an additional 64 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

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.