Raymond James Issues Pessimistic Forecast for Johnson & Johnson (NYSE:JNJ) Stock Price

Johnson & Johnson (NYSE:JNJ) had its price objective trimmed by Raymond James from $170.00 to $165.00 in a report issued on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also weighed in on JNJ. Morgan Stanley upped their price objective on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Barclays reduced their price objective on Johnson & Johnson from $160.00 to $159.00 and set an “equal weight” rating for the company in a research report on Tuesday. Wolfe Research started coverage on Johnson & Johnson in a research report on Friday, November 15th. They issued an “outperform” rating and a $190.00 target price on the stock. Finally, Citigroup lowered their price target on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $170.06.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $146.58 on Thursday. The company’s fifty day moving average is $148.10 and its two-hundred day moving average is $156.05. The company has a market cap of $352.91 billion, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 2.52 and a beta of 0.51. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $168.85. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45.

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

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be paid a $1.24 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.38%. Johnson & Johnson’s payout ratio is presently 71.78%.

Insider Buying and Selling at Johnson & Johnson

In related news, Director Mark A. Weinberger bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the purchase, the director now directly owns 1,000 shares in the company, valued at $147,220. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in JNJ. State Street Corp increased its stake in Johnson & Johnson by 0.9% during the third quarter. State Street Corp now owns 134,245,811 shares of the company’s stock valued at $21,755,874,000 after acquiring an additional 1,154,088 shares during the period. Geode Capital Management LLC grew its holdings in shares of Johnson & Johnson by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock worth $9,064,149,000 after purchasing an additional 1,004,763 shares in the last quarter. 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 valued at $2,968,440,000 after purchasing an additional 1,265,748 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Johnson & Johnson by 0.6% in 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 purchasing an additional 102,502 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Johnson & Johnson by 11.4% during the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock worth $2,721,355,000 after buying an additional 1,729,281 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

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.