Johnson & Johnson (NYSE:JNJ) Price Target Increased to $171.00 by Analysts at Sanford C. Bernstein

Johnson & Johnson (NYSE:JNJ) had its price objective increased by Sanford C. Bernstein from $161.00 to $171.00 in a research note published on Thursday morning, BayStreet.CA reports.

A number of other research analysts have also weighed in on JNJ. StockNews.com raised Johnson & Johnson from a buy rating to a strong-buy rating in a report on Sunday, June 30th. Cantor Fitzgerald reaffirmed an overweight rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Monday, July 1st. TD Cowen decreased their target price on Johnson & Johnson from $195.00 to $185.00 and set a buy rating on the stock in a research report on Thursday. Morgan Stanley boosted their target price on Johnson & Johnson from $167.00 to $169.00 and gave the stock an equal weight rating in a research report on Thursday. Finally, Royal Bank of Canada reiterated an outperform rating and set a $175.00 target price on shares of Johnson & Johnson in a research report on Thursday. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of Moderate Buy and a consensus price target of $174.64.

Johnson & Johnson Price Performance

JNJ stock opened at $154.69 on Thursday. The business has a 50 day moving average price of $148.36 and a 200 day moving average price of $153.29. The stock has a market cap of $372.29 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 2.70 and a beta of 0.52. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.11. The firm had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a return on equity of 36.79% and a net margin of 46.34%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.80 earnings per share. Equities research analysts anticipate that Johnson & Johnson will post 10.07 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be given a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.21%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Institutional Trading of Johnson & Johnson

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pathway Financial Advisors LLC increased its stake in Johnson & Johnson by 4.3% in the fourth quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock valued at $852,000 after purchasing an additional 226 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Johnson & Johnson by 5.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock valued at $46,685,000 after purchasing an additional 15,490 shares during the last quarter. OneAscent Financial Services LLC increased its stake in Johnson & Johnson by 82.8% in the fourth 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. Drive Wealth Management LLC increased its stake in Johnson & Johnson by 4.5% in the first quarter. Drive Wealth Management LLC now owns 9,625 shares of the company’s stock valued at $1,523,000 after purchasing an additional 414 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. increased its stake in Johnson & Johnson by 12.7% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock valued at $3,070,000 after purchasing an additional 2,201 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other 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.