Raymond James Lowers Johnson & Johnson (NYSE:JNJ) Price Target to $165.00

Johnson & Johnson (NYSE:JNJ) had its price target dropped by analysts at Raymond James from $170.00 to $165.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price objective points to a potential upside of 13.49% from the stock’s previous close.

JNJ has been the subject of several other research reports. Bank of America dropped their target price on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating for the company in a report on Thursday. Royal Bank of Canada upped their target price on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Friday, January 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. Finally, Citigroup dropped their price objective on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $172.69.

Johnson & Johnson Trading Down 1.9 %

NYSE:JNJ opened at $145.39 on Thursday. 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 firm has a market capitalization of $350.04 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 2.52 and a beta of 0.51. Johnson & Johnson has a one year low of $140.68 and a one year high of $168.85. The business has a fifty day moving average price of $148.10 and a 200-day moving average price of $156.05.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.99 by $0.05. The firm had revenue of $22.52 billion during the quarter, compared to analyst estimates of $22,438,500 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. Johnson & Johnson’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.29 EPS. Sell-side analysts forecast that Johnson & Johnson will post 9.95 EPS for the current year.

Insider Activity at Johnson & Johnson

In other news, Director Mark A. Weinberger acquired 1,000 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average cost of $147.22 per share, with a total value of $147,220.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $147,220. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.16% of the stock is owned by insiders.

Institutional Trading of Johnson & Johnson

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in Johnson & Johnson by 0.9% in the 3rd quarter. State Street Corp now owns 134,245,811 shares of the company’s stock worth $21,755,874,000 after purchasing an additional 1,154,088 shares during the period. Geode Capital Management LLC increased its position in shares of Johnson & Johnson by 1.8% during the third quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock worth $9,064,149,000 after acquiring an additional 1,004,763 shares during the period. FMR LLC increased its position in shares of Johnson & Johnson by 7.4% during the third quarter. FMR LLC now owns 18,316,920 shares of the company’s stock worth $2,968,440,000 after acquiring an additional 1,265,748 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Johnson & Johnson by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after acquiring an additional 102,502 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Johnson & Johnson by 11.4% during the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after purchasing an additional 1,729,281 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.