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

Johnson & Johnson (NYSE:JNJ) had its target price lowered by Bank of America from $166.00 to $160.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts also recently commented on JNJ. Morgan Stanley lifted their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Wolfe Research initiated coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 price target for the company. StockNews.com downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, Guggenheim upped their target price on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $174.29.

Johnson & Johnson Stock Performance

JNJ stock opened at $147.03 on Friday. The stock has a market capitalization of $353.99 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 2.30 and a beta of 0.51. The stock’s 50 day simple moving average is $148.68 and its 200 day simple moving average is $155.96. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $168.85. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.21 by $0.21. The company had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. Johnson & Johnson’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $2.66 earnings per share. As a group, research analysts forecast that Johnson & Johnson will post 9.94 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.37%. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

Insider Buying and Selling

In related news, Director Mark A. Weinberger purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the transaction, the director now owns 1,000 shares in the company, valued at approximately $147,220. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Johnson & Johnson

Institutional investors have recently modified their holdings of the stock. IFS Advisors LLC increased its position in Johnson & Johnson by 138.9% during the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in shares of Johnson & Johnson during the 3rd quarter worth approximately $31,000. RPg Family Wealth Advisory LLC purchased a new stake in Johnson & Johnson in the third quarter worth $35,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Johnson & Johnson by 58.7% during the third 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 period. Finally, Activest Wealth Management purchased a new position in Johnson & Johnson in the 3rd quarter worth about $40,000. 69.55% of the stock is owned by institutional investors.

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.