Royal Bank of Canada Lowers Johnson & Johnson (NYSE:JNJ) Price Target to $175.00

Johnson & Johnson (NYSE:JNJ) had its target price cut by Royal Bank of Canada from $181.00 to $175.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also recently issued reports about the company. Morgan Stanley lowered their price target on Johnson & Johnson from $170.00 to $169.00 and set an equal weight rating for the company in a report on Wednesday, January 24th. Raymond James increased their target price on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an outperform rating in a research note on Wednesday, January 3rd. Cantor Fitzgerald reissued an overweight rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, April 15th. Finally, StockNews.com raised shares of Johnson & Johnson from a buy rating to a strong-buy rating in a research report on Tuesday, February 6th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $175.86.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $147.93 on Wednesday. The firm’s 50-day moving average is $156.15 and its two-hundred day moving average is $155.63. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 0.91. The company has a market capitalization of $356.48 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 2.40 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.64 by $0.07. The firm had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.68 EPS. Analysts predict that Johnson & Johnson will post 10.65 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is presently 29.68%.

Insider Buying and Selling

In related news, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the transaction, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder & Johnson Johnson sold 3,725 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the sale, the insider now directly owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the transaction, the executive vice president now owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Johnson & Johnson

Institutional investors have recently added to or reduced their stakes in the business. DORCHESTER WEALTH MANAGEMENT Co raised its stake in Johnson & Johnson by 0.6% during the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 75,495 shares of the company’s stock worth $11,758,000 after acquiring an additional 414 shares in the last quarter. OneAscent Financial Services LLC lifted its holdings in shares of Johnson & Johnson by 82.8% in the 4th quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock valued at $1,542,000 after purchasing an additional 4,457 shares during the last quarter. TrueMark Investments LLC acquired a new stake in shares of Johnson & Johnson in the 4th quarter valued at about $1,458,000. RAM Investment Partners LLC increased its position in Johnson & Johnson by 4.5% during the fourth quarter. RAM Investment Partners LLC now owns 1,688 shares of the company’s stock worth $265,000 after buying an additional 73 shares during the period. Finally, RFG Advisory LLC lifted its stake in Johnson & Johnson by 12.6% in the third quarter. RFG Advisory LLC now owns 18,758 shares of the company’s stock valued at $2,921,000 after buying an additional 2,102 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

About Johnson & Johnson

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.