Johnson & Johnson (NYSE:JNJ) Rating Reiterated by Royal Bank of Canada

Johnson & Johnson (NYSE:JNJ)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a note issued to investors on Thursday, Benzinga reports. They currently have a $175.00 price target on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 13.81% from the company’s previous close.

Other research analysts also recently issued reports about the stock. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and upped their target price for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, May 6th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Bank of America reduced their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Finally, Morgan Stanley lowered their price target on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $175.86.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ traded up $1.10 during midday trading on Thursday, reaching $153.77. The company’s stock had a trading volume of 2,295,354 shares, compared to its average volume of 7,329,875. The business’s fifty day simple moving average is $152.49 and its 200-day simple moving average is $154.97. The company has a market capitalization of $370.08 billion, a P/E ratio of 9.57, a P/E/G ratio of 2.49 and a beta of 0.55. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The company 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 36.70%. Johnson & Johnson’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.68 earnings per share. As a group, equities research analysts expect that Johnson & Johnson will post 10.64 EPS for the current fiscal year.

Insider Activity

In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson 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 can be accessed through this link. 0.16% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Johnson & Johnson

Several hedge funds and other institutional investors have recently made changes to their positions in JNJ. Christopher J. Hasenberg Inc bought a new position in Johnson & Johnson during the first quarter worth about $31,000. Tower View Wealth Management LLC boosted its position in Johnson & Johnson by 183.3% during the third quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 165 shares during the period. Keener Financial Planning LLC bought a new position in shares of Johnson & Johnson in the fourth quarter valued at about $40,000. WFA Asset Management Corp boosted its holdings in shares of Johnson & Johnson by 61.4% during the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after buying an additional 97 shares during the period. Finally, Vermillion & White Wealth Management Group LLC acquired a new position in Johnson & Johnson in the 4th quarter valued at about $44,000. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Company Profile

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.