Johnson & Johnson (NYSE:JNJ) Price Target Raised to $175.00 at Morgan Stanley

Johnson & Johnson (NYSE:JNJ) had its price objective lifted by Morgan Stanley from $169.00 to $175.00 in a research note released on Wednesday, Benzinga reports. The firm currently has an equal weight rating on the stock.

Other research analysts also recently issued reports about the company. TD Securities decreased their price objective on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Royal Bank of Canada lifted their price target on Johnson & Johnson from $175.00 to $178.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. TD Cowen cut their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Thursday, October 10th. Finally, StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $175.93.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $164.28 on Wednesday. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The stock has a 50-day moving average price of $162.81 and a 200 day moving average price of $154.59. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The firm has a market cap of $395.37 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 2.65 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same period last year, the business posted $2.66 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts expect that Johnson & Johnson will post 10 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.02%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Insider Activity

In other 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 transaction of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On Johnson & Johnson

Institutional investors have recently made changes to their positions in the business. Innealta Capital LLC bought a new position in shares of Johnson & Johnson in the second quarter worth approximately $27,000. MFA Wealth Advisors LLC bought a new position in Johnson & Johnson in the second quarter worth about $43,000. Fairfield Financial Advisors LTD purchased a new position in shares of Johnson & Johnson in the 2nd quarter valued at approximately $46,000. Fairway Wealth LLC grew its position in shares of Johnson & Johnson by 217.1% in the 2nd quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock worth $49,000 after buying an additional 228 shares during the period. Finally, Quarry LP purchased a new stake in Johnson & Johnson in the second quarter worth about $49,000. 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.