Johnson & Johnson (JNJ) Upgraded by Vetr Inc. to Buy
Vetr upgraded shares of Johnson & Johnson (NYSE:JNJ) from a hold rating to a buy rating in a research note issued to investors on Tuesday. The firm currently has $117.64 target price on the stock.
A number of other analysts also recently commented on the company. Zacks Investment Research raised Johnson & Johnson from a hold rating to a buy rating and set a $139.00 price objective on the stock in a research note on Friday, August 5th. BTIG Research restated a neutral rating on shares of Johnson & Johnson in a report on Wednesday, September 7th. RBC Capital Markets set a $133.00 target price on Johnson & Johnson and gave the stock a buy rating in a report on Wednesday, November 9th. Bank of America Corp. restated a hold rating and issued a $126.00 target price on shares of Johnson & Johnson in a report on Monday. Finally, Credit Suisse Group AG restated a neutral rating and issued a $123.00 target price on shares of Johnson & Johnson in a report on Monday, September 19th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $121.03.
Johnson & Johnson (NYSE:JNJ) opened at 112.48 on Tuesday. The stock has a market capitalization of $306.01 billion, a P/E ratio of 19.74 and a beta of 0.75. Johnson & Johnson has a 52-week low of $94.28 and a 52-week high of $126.07. The company’s 50-day moving average price is $115.85 and its 200 day moving average price is $118.43.
Johnson & Johnson (NYSE:JNJ) last posted 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 company had revenue of $17.80 billion for the quarter, compared to the consensus estimate of $17.71 billion. During the same quarter in the previous year, the business earned $1.49 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that Johnson & Johnson will post $6.72 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 22nd will be issued a dividend of $0.80 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, November 18th. This represents a $3.20 annualized dividend and a yield of 2.84%. Johnson & Johnson’s dividend payout ratio is currently 56.64%.
In other news, Director Charles Prince acquired 875 shares of Johnson & Johnson stock in a transaction on Friday, October 21st. The shares were purchased at an average price of $114.11 per share, with a total value of $99,846.25. Following the acquisition, the director now owns 26,520 shares in the company, valued at $3,026,197.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.11% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Canandaigua National Bank & Trust Co. increased its position in Johnson & Johnson by 0.3% in the first quarter. Canandaigua National Bank & Trust Co. now owns 97,516 shares of the company’s stock worth $10,551,000 after buying an additional 291 shares during the period. Royal Bank of Scotland Group PLC increased its position in Johnson & Johnson by 1.7% in the first quarter. Royal Bank of Scotland Group PLC now owns 10,950 shares of the company’s stock worth $1,184,000 after buying an additional 182 shares during the period. USS Investment Management Ltd increased its position in Johnson & Johnson by 38.9% in the first quarter. USS Investment Management Ltd now owns 211,814 shares of the company’s stock worth $22,913,000 after buying an additional 59,314 shares during the period. Shufro Rose & Co. LLC increased its position in Johnson & Johnson by 22.8% in the first quarter. Shufro Rose & Co. LLC now owns 50,889 shares of the company’s stock worth $5,506,000 after buying an additional 9,440 shares during the period. Finally, Bessemer Group Inc. increased its position in Johnson & Johnson by 77.1% in the first quarter. Bessemer Group Inc. now owns 748,552 shares of the company’s stock worth $80,994,000 after buying an additional 325,913 shares during the period. 64.13% of the stock is currently owned by institutional investors.
About Johnson & Johnson
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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