Johnson & Johnson (NYSE:JNJ) Price Target Increased to $166.00 by Analysts at Wells Fargo & Company

Johnson & Johnson (NYSE:JNJ) had its price objective raised by Wells Fargo & Company from $163.00 to $166.00 in a report published on Wednesday, Benzinga reports. They currently have an equal weight rating on the stock.

JNJ has been the subject of a number of other research reports. Sanford C. Bernstein upped their target price on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Thursday, October 10th. Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Finally, Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. 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 currently has an average rating of “Moderate Buy” and a consensus target price of $175.93.

Johnson & Johnson Price Performance

NYSE JNJ opened at $165.13 on Wednesday. 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 stock has a market capitalization of $397.41 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The company has a 50 day moving average price of $162.98 and a two-hundred day moving average price of $154.71.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. During the same period in the prior year, the company posted $2.66 earnings per share. Johnson & Johnson’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities analysts predict that Johnson & Johnson will post 10 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Johnson & Johnson

Hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new stake in shares of Johnson & Johnson in the second quarter valued at approximately $27,000. MFA Wealth Advisors LLC bought a new position in Johnson & Johnson in the 2nd quarter valued at $43,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Johnson & Johnson in the 2nd quarter valued at $46,000. Fairway Wealth LLC lifted its stake in shares of Johnson & Johnson by 217.1% during the second quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock valued at $49,000 after acquiring an additional 228 shares during the period. Finally, Quarry LP bought a new position in Johnson & Johnson in the second quarter valued at about $49,000. 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.