Johnson & Johnson (JNJ) Rating Reiterated by Bank of America Corp.
Johnson & Johnson (NYSE:JNJ)‘s stock had its “hold” rating reiterated by analysts at Bank of America Corp. in a report issued on Monday. They currently have a $126.00 target price on the stock. Bank of America Corp.’s price objective would indicate a potential upside of 12.02% from the stock’s current price.
JNJ has been the subject of several other research reports. Credit Suisse Group AG reaffirmed a “neutral” rating and issued a $123.00 price objective on shares of Johnson & Johnson in a research note on Monday, September 19th. Vetr downgraded shares of Johnson & Johnson from a “buy” rating to a “hold” rating and set a $119.60 target price on the stock. in a report on Tuesday, November 1st. Zacks Investment Research upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $139.00 target price on the stock in a report on Friday, August 5th. Jefferies Group lifted their target price on shares of Johnson & Johnson from $113.00 to $119.00 and gave the stock a “hold” rating in a report on Thursday, August 4th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $142.00 target price on shares of Johnson & Johnson in a report on Friday, August 19th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $121.03.
Shares of Johnson & Johnson (NYSE:JNJ) opened at 112.48 on Monday. Johnson & Johnson has a 52 week low of $94.28 and a 52 week high of $126.07. The firm has a market capitalization of $306.01 billion, a P/E ratio of 19.74 and a beta of 0.75. The stock’s 50 day moving average price is $115.85 and its 200 day moving average price is $118.43.
Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 18th. The company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The company earned $17.80 billion during the quarter, compared to analyst estimates of $17.71 billion. Johnson & Johnson had a net margin of 22.03% and a return on equity of 25.30%. During the same quarter last year, the business posted $1.49 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, analysts predict that Johnson & Johnson will post $6.72 EPS for the current fiscal year.
The firm also recently announced 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. The ex-dividend date of this dividend is Friday, November 18th. This represents a $3.20 dividend on an annualized basis and a yield of 2.84%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $0.29. Johnson & Johnson’s payout ratio is presently 56.64%.
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In other Johnson & Johnson news, Director Charles Prince bought 875 shares of the 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 completion of the purchase, the director now directly owns 26,520 shares in the company, valued at approximately $3,026,197.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of JNJ. 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 during the period. 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 during the period. 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 during the period. A.R. Schmeidler & Co. Inc. raised its position in Johnson & Johnson by 2.9% in the first quarter. A.R. Schmeidler & Co. Inc. now owns 33,270 shares of the company’s stock worth $3,600,000 after buying an additional 953 shares during the period. Finally, Institutional & Family Asset Management LLC raised its position in Johnson & Johnson by 2.2% in the first quarter. Institutional & Family Asset Management LLC now owns 30,029 shares of the company’s stock worth $3,085,000 after buying an additional 640 shares during the period. 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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