Johnson & Johnson (NYSE:JNJ) Price Target Lowered to $170.00 at Bank of America

Johnson & Johnson (NYSE:JNJ) had its price target decreased by Bank of America from $180.00 to $170.00 in a research report released on Wednesday, Benzinga reports. Bank of America currently has a neutral rating on the stock.

A number of other equities research analysts have also issued reports on the company. StockNews.com raised Johnson & Johnson from a buy rating to a strong-buy rating in a research note on Tuesday, February 6th. Royal Bank of Canada reduced their price objective on Johnson & Johnson from $181.00 to $175.00 and set an outperform rating on the stock in a research report on Wednesday. Morgan Stanley dropped their price objective on Johnson & Johnson from $170.00 to $169.00 and set an equal weight rating for the company in a research report on Wednesday, January 24th. Cantor Fitzgerald reiterated an overweight rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Monday. Finally, Raymond James upped their price objective on shares of Johnson & Johnson from $172.00 to $175.00 and gave the company an outperform rating in a research note on Wednesday, January 3rd. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $176.36.

Johnson & Johnson Trading Up 0.2 %

NYSE:JNJ opened at $144.77 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $348.86 billion, a PE ratio of 10.48, a P/E/G ratio of 2.45 and a beta of 0.53. The stock’s 50 day moving average price is $156.54 and its 200 day moving average price is $155.74. Johnson & Johnson has a 52-week low of $143.39 and a 52-week high of $175.97.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The firm had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a return on equity of 37.27% and a net margin of 37.79%. Johnson & Johnson’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.68 earnings per share. On average, research analysts anticipate that Johnson & Johnson will post 10.66 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a yield of 3.43%. Johnson & Johnson’s dividend payout ratio is 34.47%.

Insider Buying and Selling at Johnson & Johnson

In related news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the transaction, the insider now owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the transaction, the insider now owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the transaction, the executive vice president now directly owns 141,416 shares in the company, valued at $22,099,078.32. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in JNJ. Strata Wealth Advisors LLC grew its position in shares of Johnson & Johnson by 219.2% in the 1st quarter. Strata Wealth Advisors LLC now owns 5,927 shares of the company’s stock valued at $938,000 after buying an additional 4,070 shares during the last quarter. Sandy Cove Advisors LLC boosted its holdings in Johnson & Johnson by 4.4% in the first quarter. Sandy Cove Advisors LLC now owns 5,597 shares of the company’s stock valued at $885,000 after acquiring an additional 238 shares during the last quarter. Trilogy Capital Inc. increased its position in Johnson & Johnson by 91.5% during the 1st quarter. Trilogy Capital Inc. now owns 4,392 shares of the company’s stock valued at $695,000 after purchasing an additional 2,099 shares during the period. Red Door Wealth Management LLC raised its holdings in Johnson & Johnson by 2.0% during the 1st quarter. Red Door Wealth Management LLC now owns 47,322 shares of the company’s stock worth $7,486,000 after purchasing an additional 921 shares during the last quarter. Finally, Cornerstone Wealth Group LLC lifted its position in shares of Johnson & Johnson by 63.3% in the 1st quarter. Cornerstone Wealth Group LLC now owns 52,737 shares of the company’s stock worth $8,343,000 after purchasing an additional 20,446 shares during the period. Institutional investors own 69.55% of the company’s stock.

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.