Johnson & Johnson (JNJ) Downgraded by Barclays PLC to “Equal Weight”
Johnson & Johnson (NYSE:JNJ) was downgraded by stock analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Tuesday. They presently have a $125.00 price objective on the stock, down from their previous price objective of $130.00. Barclays PLC’s target price suggests a potential upside of 11.13% from the stock’s current price. The analysts noted that the move was a valuation call.
A number of other equities research analysts have also commented on the company. Vetr upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and set a $124.21 price objective for the company in a research report on Monday, August 22nd. Zacks Investment Research upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and set a $139.00 price objective for the company in a research report on Friday, August 5th. BTIG Research restated a “neutral” rating on shares of Johnson & Johnson in a research report on Wednesday, September 7th. RBC Capital Markets set a $133.00 price target on Johnson & Johnson and gave the company a “buy” rating in a report on Wednesday, November 9th. Finally, Bank of America Corp. reiterated a “hold” rating and set a $126.00 price target on shares of Johnson & Johnson in a report on Monday. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $121.02.
Johnson & Johnson (NYSE:JNJ) traded down 0.57% during mid-day trading on Tuesday, reaching $112.48. 7,799,649 shares of the company were exchanged. The stock’s 50-day moving average is $115.85 and its 200-day moving average is $118.43. Johnson & Johnson has a 12 month low of $94.28 and a 12 month high of $126.07. The company has a market cap of $306.01 billion, a P/E ratio of 19.74 and a beta of 0.75.
Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, October 18th. The company reported $1.68 EPS for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.02. Johnson & Johnson had a return on equity of 25.30% and a net margin of 22.03%. The firm earned $17.80 billion during the quarter, compared to analyst estimates of $17.71 billion. During the same period last year, the company posted $1.49 EPS. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities analysts expect that Johnson & Johnson will post $6.72 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Tuesday, November 22nd will be paid a $0.80 dividend. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, November 18th. This represents a $3.20 annualized dividend and a yield of 2.84%. Johnson & Johnson’s payout ratio is currently 56.64%.
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In related news, Director Charles Prince purchased 875 shares of the firm’s stock in a transaction that occurred on Friday, October 21st. The shares were acquired at an average price of $114.11 per share, with a total value of $99,846.25. Following the purchase, the director now directly owns 26,520 shares in the company, valued at $3,026,197.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Ancora Inverness LLC raised its position in Johnson & Johnson by 10.3% in the first quarter. Ancora Inverness LLC now owns 40,858 shares of the company’s stock worth $4,421,000 after buying an additional 3,806 shares in the last quarter. King Wealth Management Group LLC raised its position in Johnson & Johnson by 2.4% in the first quarter. King Wealth Management Group LLC now owns 13,648 shares of the company’s stock worth $1,477,000 after buying an additional 314 shares in the last quarter. Investec Asset Management North America Inc. raised its position in Johnson & Johnson by 20.4% in the first quarter. Investec Asset Management North America Inc. now owns 99,581 shares of the company’s stock worth $10,775,000 after buying an additional 16,869 shares in the last quarter. Investec Asset Management LTD raised its position in Johnson & Johnson by 49.2% in the first quarter. Investec Asset Management LTD now owns 5,050,411 shares of the company’s stock worth $546,454,000 after buying an additional 1,665,644 shares in the last quarter. Finally, Ropes Wealth Advisors LLC raised its position in Johnson & Johnson by 8.0% in the first quarter. Ropes Wealth Advisors LLC now owns 55,976 shares of the company’s stock worth $6,057,000 after buying an additional 4,161 shares in the last quarter. 64.13% of the stock is currently owned by institutional investors and hedge funds.
Johnson & Johnson Company Profile
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. The Company’s segments include Consumer, Pharmaceutical and Medical Devices. The Consumer segment includes a range of products used in the baby care, oral care, skin care, over-the-counter pharmaceutical, women’s health and wound care markets.
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