Bank of America Issues Positive Forecast for Johnson & Johnson (NYSE:JNJ) Stock Price

Johnson & Johnson (NYSE:JNJ) had its price target boosted by Bank of America from $204.00 to $220.00 in a research note released on Monday morning,Benzinga reports. Bank of America currently has a neutral rating on the stock.

Other analysts have also recently issued reports about the company. HSBC restated a “buy” rating and set a $240.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, December 10th. Cowen restated a “buy” rating on shares of Johnson & Johnson in a research note on Tuesday, October 14th. Wall Street Zen raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Scotiabank assumed coverage on shares of Johnson & Johnson in a research note on Thursday, November 13th. They issued a “sector outperform” rating and a $230.00 target price on the stock. Finally, Stifel Nicolaus raised their price target on shares of Johnson & Johnson from $165.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

Johnson & Johnson Stock Up 1.3%

Shares of JNJ opened at $214.41 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 1.07. The company has a 50-day simple moving average of $196.61 and a 200-day simple moving average of $177.85. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $215.19. The firm has a market capitalization of $516.58 billion, a P/E ratio of 20.70, a P/E/G ratio of 2.36 and a beta of 0.36.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The business had revenue of $24.02 billion for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%. On average, equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th were given a $1.30 dividend. The ex-dividend date was Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a yield of 2.4%. Johnson & Johnson’s payout ratio is 50.19%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Abich Financial Wealth Management LLC acquired a new stake in Johnson & Johnson in the third quarter valued at about $26,000. Evolution Wealth Management Inc. bought a new position in shares of Johnson & Johnson in the second quarter worth about $27,000. Clayton Financial Group LLC acquired a new stake in shares of Johnson & Johnson in the 3rd quarter valued at approximately $28,000. Semmax Financial Advisors Inc. grew its holdings in shares of Johnson & Johnson by 55.0% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 203 shares of the company’s stock valued at $31,000 after purchasing an additional 72 shares during the last quarter. Finally, GFG Capital LLC bought a new position in Johnson & Johnson in the 2nd quarter valued at approximately $35,000. Institutional investors 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.