Johnson & Johnson’s (JNJ) “Overweight” Rating Reiterated at Cantor Fitzgerald

Johnson & Johnson (NYSE:JNJ)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $215.00 price objective on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 29.81% from the company’s current price.

A number of other brokerages have also recently commented on JNJ. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a report on Tuesday, July 30th. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Sanford C. Bernstein boosted their price target on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. The Goldman Sachs Group lowered their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Finally, Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

Johnson & Johnson Trading Up 0.1 %

Shares of Johnson & Johnson stock opened at $165.63 on Monday. The company has a fifty day simple moving average of $159.55 and a 200-day simple moving average of $153.94. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock has a market cap of $398.71 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 2.71 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.11. The company had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.80 earnings per share. On average, equities analysts forecast that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Insider Activity

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the firm’s 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 directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Summit Wealth Partners LLC raised its holdings in shares of Johnson & Johnson by 0.6% in the second quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock worth $1,463,000 after acquiring an additional 61 shares during the last quarter. Citizens & Northern Corp lifted its holdings in 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 in the last quarter. Carolinas Wealth Consulting LLC boosted its stake in shares of Johnson & Johnson by 0.4% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 16,861 shares of the company’s stock worth $2,643,000 after purchasing an additional 64 shares during the last quarter. Epic Trust Investment Advisors LLC raised its position in shares of Johnson & Johnson by 3.6% in the second quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock valued at $268,000 after buying an additional 64 shares during the last quarter. Finally, Pine Harbor Wealth Management LLC boosted its position in Johnson & Johnson by 1.9% during the second quarter. Pine Harbor Wealth Management LLC now owns 3,472 shares of the company’s stock worth $507,000 after acquiring an additional 64 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

About Johnson & Johnson

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.