Johnson & Johnson (NYSE:JNJ) Earns “Buy” Rating from Royal Bank Of Canada
Royal Bank Of Canada reaffirmed their buy rating on shares of Johnson & Johnson (NYSE:JNJ) in a report published on Wednesday, July 12th. Royal Bank Of Canada currently has a $138.00 price target on the stock.
Several other brokerages have also commented on JNJ. BidaskClub raised Johnson & Johnson from a buy rating to a strong-buy rating in a research note on Saturday, June 17th. Wells Fargo & Company reissued a market perform rating and set a $135.00 target price (up previously from $132.00) on shares of Johnson & Johnson in a research note on Thursday, July 6th. Jefferies Group LLC reissued a hold rating and set a $140.00 target price on shares of Johnson & Johnson in a research note on Friday, June 16th. Morgan Stanley upped their price target on Johnson & Johnson from $135.00 to $140.00 and gave the stock an overweight rating in a report on Wednesday, July 5th. Finally, Cowen and Company restated an outperform rating and set a $143.00 price target on shares of Johnson & Johnson in a report on Tuesday, June 13th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $133.72.
Shares of Johnson & Johnson (NYSE JNJ) opened at 132.27 on Wednesday. The stock has a market cap of $356.31 billion, a price-to-earnings ratio of 22.38 and a beta of 0.78. Johnson & Johnson has a 1-year low of $109.32 and a 1-year high of $137.08. The firm has a 50-day moving average price of $133.35 and a 200-day moving average price of $125.64.
Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, July 18th. The company reported $1.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.79 by $0.04. Johnson & Johnson had a return on equity of 26.76% and a net margin of 22.52%. The business had revenue of $18.84 billion for the quarter, compared to analyst estimates of $18.94 billion. During the same quarter in the prior year, the company posted $1.74 EPS. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Equities analysts forecast that Johnson & Johnson will post $7.18 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Tuesday, August 29th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.54%. The ex-dividend date is Friday, August 25th. Johnson & Johnson’s payout ratio is 56.76%.
In related news, VP Paulus Stoffels sold 102,692 shares of Johnson & Johnson stock in a transaction on Monday, July 24th. The stock was sold at an average price of $133.14, for a total value of $13,672,412.88. Following the transaction, the vice president now owns 230,342 shares in the company, valued at $30,667,733.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Dominic J. Caruso sold 82,591 shares of Johnson & Johnson stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $136.72, for a total value of $11,291,841.52. Following the completion of the transaction, the vice president now owns 226,693 shares in the company, valued at approximately $30,993,466.96. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.
Several hedge funds have recently made changes to their positions in JNJ. Lau Associates LLC raised its stake in shares of Johnson & Johnson by 12.8% in the first quarter. Lau Associates LLC now owns 46,878 shares of the company’s stock valued at $5,839,000 after buying an additional 5,335 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Johnson & Johnson by 396.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 110,823 shares of the company’s stock valued at $12,768,000 after buying an additional 88,510 shares in the last quarter. Jackson Grant Investment Advisers Inc. raised its stake in shares of Johnson & Johnson by 7.3% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 14,124 shares of the company’s stock valued at $1,627,000 after buying an additional 957 shares in the last quarter. Burke & Herbert Bank & Trust Co. raised its stake in shares of Johnson & Johnson by 2.6% in the first quarter. Burke & Herbert Bank & Trust Co. now owns 47,330 shares of the company’s stock valued at $5,895,000 after buying an additional 1,218 shares in the last quarter. Finally, Coho Partners Ltd. raised its stake in shares of Johnson & Johnson by 0.6% in the fourth quarter. Coho Partners Ltd. now owns 529,138 shares of the company’s stock valued at $60,962,000 after buying an additional 3,201 shares in the last quarter. 66.06% 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. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.
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