Citigroup Boosts Johnson & Johnson (NYSE:JNJ) Price Target to $185.00

Johnson & Johnson (NYSE:JNJ) had its price target upped by equities researchers at Citigroup from $180.00 to $185.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 12.18% from the stock’s previous close.

A number of other research firms also recently weighed in on JNJ. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday. TD Securities decreased their target price on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Morgan Stanley lifted their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, TD Cowen lowered their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $175.93.

Johnson & Johnson Price Performance

Shares of NYSE JNJ traded up $0.81 during mid-day trading on Wednesday, reaching $164.91. 3,020,468 shares of the company traded hands, compared to its average volume of 7,031,598. The stock has a fifty day simple moving average of $162.70 and a 200-day simple moving average of $154.52. The firm has a market cap of $396.89 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter last year, the firm earned $2.66 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts anticipate that Johnson & Johnson will post 10 EPS for the current fiscal year.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Johnson & Johnson

A number of hedge funds have recently modified their holdings of the stock. Culbertson A N & Co. Inc. raised its stake in Johnson & Johnson by 3.3% during the third quarter. Culbertson A N & Co. Inc. now owns 74,312 shares of the company’s stock worth $12,043,000 after acquiring an additional 2,363 shares in the last quarter. SPC Financial Inc. raised its holdings in shares of Johnson & Johnson by 1.8% in the third quarter. SPC Financial Inc. now owns 18,454 shares of the company’s stock valued at $2,991,000 after buying an additional 326 shares during the last quarter. B.O.S.S. Retirement Advisors LLC lifted its position in Johnson & Johnson by 13.9% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 30,797 shares of the company’s stock worth $4,991,000 after buying an additional 3,759 shares in the last quarter. Twelve Points Wealth Management LLC increased its position in Johnson & Johnson by 3.4% in the 3rd quarter. Twelve Points Wealth Management LLC now owns 12,196 shares of the company’s stock valued at $1,977,000 after acquiring an additional 396 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its position in shares of Johnson & Johnson by 0.9% during the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 38,422 shares of the company’s stock worth $6,227,000 after purchasing an additional 334 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

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.