Johnson & Johnson (NYSE:JNJ) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Johnson & Johnson (NYSE:JNJ) had its target price upped by stock analysts at Wells Fargo & Company from $212.00 to $230.00 in a report issued on Friday,MarketScreener reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 8.67% from the company’s current price.

Several other equities research analysts have also issued reports on JNJ. Citigroup lifted their price target on shares of Johnson & Johnson from $215.00 to $232.00 and gave the company a “buy” rating in a research note on Thursday. Raymond James Financial lifted their target price on Johnson & Johnson from $174.00 to $209.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. UBS Group increased their price target on Johnson & Johnson from $190.00 to $214.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Morgan Stanley boosted their price target on Johnson & Johnson from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Bank of America increased their price objective on Johnson & Johnson from $198.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average target price of $207.55.

Johnson & Johnson Stock Up 0.8%

Shares of NYSE:JNJ opened at $211.65 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market cap of $509.93 billion, a price-to-earnings ratio of 20.43, a P/E/G ratio of 2.36 and a beta of 0.36. The company has a 50 day moving average of $196.09 and a 200-day moving average of $177.25. Johnson & Johnson has a one year low of $140.68 and a one year high of $212.27.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%.The company had revenue of $24.02 billion during the quarter. On average, sell-side analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Institutional Investors Weigh In On Johnson & Johnson

A number of hedge funds have recently made changes to their positions in JNJ. Saranac Partners Ltd acquired a new position in shares of Johnson & Johnson in the 3rd quarter worth approximately $275,000. Allworth Financial LP lifted its holdings in Johnson & Johnson by 2.3% in the third quarter. Allworth Financial LP now owns 381,319 shares of the company’s stock valued at $70,704,000 after buying an additional 8,640 shares during the period. IFP Advisors Inc boosted its position in Johnson & Johnson by 2.1% during the third quarter. IFP Advisors Inc now owns 32,442 shares of the company’s stock valued at $6,016,000 after acquiring an additional 654 shares during the last quarter. Steadtrust LLC grew its holdings in Johnson & Johnson by 10.4% during the 3rd quarter. Steadtrust LLC now owns 2,735 shares of the company’s stock worth $507,000 after acquiring an additional 258 shares during the period. Finally, Stillwater Wealth Management Group bought a new position in shares of Johnson & Johnson in the 3rd quarter worth about $375,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

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.