Johnson & Johnson (NYSE:JNJ) Lowered to “Buy” at StockNews.com

StockNews.com downgraded shares of Johnson & Johnson (NYSE:JNJ) from a strong-buy rating to a buy rating in a research note released on Saturday.

JNJ has been the subject of a number of other research reports. Cantor Fitzgerald reiterated an overweight rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Thursday. The Goldman Sachs Group assumed coverage on Johnson & Johnson in a research note on Thursday, May 30th. They issued a neutral rating and a $160.00 price target for the company. HSBC upgraded Johnson & Johnson from a hold rating to a buy rating and lifted their price target for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Morgan Stanley cut their price target on Johnson & Johnson from $168.00 to $167.00 and set an equal weight rating for the company in a research note on Wednesday, April 17th. Finally, Bank of America cut their price target on Johnson & Johnson from $180.00 to $170.00 and set a neutral rating for the company in a research note on Wednesday, April 17th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson currently has an average rating of Hold and an average target price of $174.07.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $148.75 on Friday. The stock has a 50-day moving average of $148.05 and a two-hundred day moving average of $154.35. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. The stock has a market cap of $357.99 billion, a P/E ratio of 9.27, a P/E/G ratio of 2.46 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. The business had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $2.68 EPS. As a group, research analysts predict that Johnson & Johnson will post 10.63 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were issued a dividend of $1.24 per share. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Monday, May 20th. Johnson & Johnson’s payout ratio is currently 30.92%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in JNJ. Christopher J. Hasenberg Inc acquired a new position in Johnson & Johnson in the first quarter valued at approximately $31,000. Keener Financial Planning LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter worth $40,000. WFA Asset Management Corp increased its holdings in Johnson & Johnson by 61.4% in the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after buying an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in Johnson & Johnson in the fourth quarter valued at $44,000. Finally, Disciplined Equity Management Inc. purchased a new position in Johnson & Johnson in the fourth quarter valued at $45,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Company Profile

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.