Bank of America Cuts Johnson & Johnson (NYSE:JNJ) Price Target to $160.00

Johnson & Johnson (NYSE:JNJ) had its price objective decreased by Bank of America from $166.00 to $160.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price objective indicates a potential upside of 8.82% from the stock’s current price.

JNJ has been the topic of several other reports. Wolfe Research began coverage on Johnson & Johnson in a report on Friday, November 15th. They issued an “outperform” rating and a $190.00 target price on the stock. StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Friday. Morgan Stanley upped their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Guggenheim upped their price objective on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company upped their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $174.29.

Johnson & Johnson Stock Down 0.5 %

Shares of JNJ opened at $147.03 on Friday. The company has a market capitalization of $353.99 billion, a P/E ratio of 21.28, a PEG ratio of 2.30 and a beta of 0.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. Johnson & Johnson has a one year low of $140.68 and a one year high of $168.85. The business’s 50 day simple moving average is $148.51 and its 200-day simple moving average is $155.96.

Insider Activity at Johnson & Johnson

In other news, Director Mark A. Weinberger bought 1,000 shares of the stock in a transaction on Thursday, December 12th. The stock was purchased at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the acquisition, the director now owns 1,000 shares in the company, valued at approximately $147,220. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.16% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Johnson & Johnson

A number of large investors have recently added to or reduced their stakes in JNJ. IFS Advisors LLC boosted its stake in shares of Johnson & Johnson by 138.9% during the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in shares of Johnson & Johnson during the 3rd quarter worth about $31,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Johnson & Johnson during the 3rd quarter worth about $35,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after buying an additional 91 shares during the last quarter. Finally, Activest Wealth Management acquired a new position in shares of Johnson & Johnson during the 3rd quarter worth about $40,000. 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.