Citigroup Has Lowered Expectations for Johnson & Johnson (NYSE:JNJ) Stock Price

Johnson & Johnson (NYSE:JNJ) had its price target dropped by investment analysts at Citigroup from $185.00 to $175.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 19.32% from the stock’s current price.

Several other research firms have also recently issued reports on JNJ. Guggenheim boosted their target price on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Wells Fargo & Company lifted their price target on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Finally, Wolfe Research assumed coverage on Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.73.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock traded down $2.56 on Wednesday, reaching $146.67. 3,879,262 shares of the company traded hands, compared to its average volume of 7,081,807. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The company has a 50 day moving average of $157.58 and a 200 day moving average of $156.42. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The firm has a market capitalization of $353.13 billion, a PE ratio of 21.25, a PEG ratio of 2.66 and a beta of 0.51.

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

Institutional Trading of Johnson & Johnson

A number of hedge funds have recently bought and sold shares of the company. Innealta Capital LLC bought a new position in Johnson & Johnson during the second quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new position in Johnson & Johnson during the third quarter valued at approximately $31,000. RPg Family Wealth Advisory LLC bought a new position in Johnson & Johnson during the third quarter valued at approximately $35,000. Mowery & Schoenfeld Wealth Management LLC lifted its stake in shares of Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 91 shares during the last quarter. Finally, Activest Wealth Management purchased a new stake in shares of Johnson & Johnson in the third quarter worth approximately $40,000. 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.