The Goldman Sachs Group Trims Johnson & Johnson (NYSE:JNJ) Target Price to $155.00

Johnson & Johnson (NYSE:JNJ) had its price target trimmed by The Goldman Sachs Group from $160.00 to $155.00 in a report published on Friday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also recently commented on the stock. Morgan Stanley increased their price target on shares of Johnson & Johnson from $167.00 to $169.00 and gave the company an equal weight rating in a research note on Thursday. TD Cowen cut their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a buy rating for the company in a research note on Thursday. HSBC upgraded shares of Johnson & Johnson from a hold rating to a buy rating and increased their price target for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Bank of America cut their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a neutral rating for the company in a research note on Wednesday, April 17th. Finally, Sanford C. Bernstein increased their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $174.64.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $154.69 on Friday. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The firm has a fifty day simple moving average of $148.36 and a 200 day simple moving average of $153.29. The stock has a market capitalization of $372.29 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 2.70 and a beta of 0.52. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.79%. The business had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. During the same quarter in the prior year, the company posted $2.80 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. Research analysts forecast that Johnson & Johnson will post 10.07 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is 30.92%.

Hedge Funds Weigh In On Johnson & Johnson

Hedge funds have recently bought and sold shares of the business. Christopher J. Hasenberg Inc bought a new position in Johnson & Johnson during the first quarter worth about $31,000. Keener Financial Planning LLC bought a new position in Johnson & Johnson during the fourth quarter worth about $40,000. WFA Asset Management Corp increased its position in Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after acquiring an additional 97 shares during the period. Vermillion & White Wealth Management Group LLC bought a new position in Johnson & Johnson during the fourth quarter worth about $44,000. Finally, Disciplined Equity Management Inc. acquired a new stake in Johnson & Johnson during the fourth quarter worth about $45,000. 69.55% of the stock is owned by institutional investors.

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.