Johnson & Johnson (NYSE:JNJ) Earns Outperform Rating from Analysts at Wolfe Research

Wolfe Research initiated coverage on shares of Johnson & Johnson (NYSE:JNJ) in a research note published on Friday morning, MarketBeat reports. The brokerage issued an outperform rating and a $190.00 price target on the stock.

Several other analysts also recently issued reports on the stock. Citigroup lifted their price target on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Morgan Stanley increased their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average target price of $175.94.

Johnson & Johnson Trading Up 1.4 %

NYSE:JNJ opened at $154.00 on Friday. The firm has a fifty day simple moving average of $161.35 and a two-hundred day simple moving average of $156.13. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The stock has a market capitalization of $370.77 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 2.74 and a beta of 0.53. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. During the same period in the previous year, the company posted $2.66 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. Analysts expect that Johnson & Johnson will post 9.93 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.22%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. The trade was a 22.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Johnson & Johnson

Several large investors have recently modified their holdings of JNJ. Geode Capital Management LLC grew its stake in Johnson & Johnson by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock valued at $9,064,149,000 after buying an additional 1,004,763 shares in the last quarter. Greenwood Gearhart Inc. raised its stake in shares of Johnson & Johnson by 9.8% during the 3rd quarter. Greenwood Gearhart Inc. now owns 78,814 shares of the company’s stock valued at $12,772,000 after purchasing an additional 7,033 shares during the period. Prestige Wealth Management Group LLC boosted its stake in Johnson & Johnson by 0.4% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 26,607 shares of the company’s stock worth $4,312,000 after purchasing an additional 116 shares during the period. Brophy Wealth Management LLC purchased a new position in Johnson & Johnson during the 3rd quarter valued at about $944,000. Finally, High Falls Advisors Inc lifted its holdings in shares of Johnson & Johnson by 15.7% in the third quarter. High Falls Advisors Inc now owns 2,186 shares of the company’s stock worth $354,000 after buying an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

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.