Johnson & Johnson’s (JNJ) Overweight Rating Reaffirmed at Cantor Fitzgerald

Johnson & Johnson (NYSE:JNJ)‘s stock had its “overweight” rating reissued by equities research analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They currently have a $215.00 target price on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 28.69% from the stock’s previous close.

A number of other research firms also recently commented on JNJ. Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Sanford C. Bernstein upped their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. TD Securities dropped their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research note on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

Johnson & Johnson Trading Up 0.0 %

NYSE:JNJ opened at $167.07 on Monday. The company has a market capitalization of $402.08 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The stock has a fifty day simple moving average of $160.38 and a 200-day simple moving average of $154.01.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter in the previous year, the company posted $2.80 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Johnson & Johnson

Several institutional investors and hedge funds have recently made changes to their positions in the business. Meridian Financial Partners LLC bought a new position in shares of Johnson & Johnson in the second quarter worth $1,626,000. Summit Financial Wealth Advisors LLC grew its stake in shares of Johnson & Johnson by 26.3% in the first quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock worth $853,000 after purchasing an additional 1,122 shares in the last quarter. Gilbert & Cook Inc. grew its stake in shares of Johnson & Johnson by 3.3% in the fourth quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock worth $1,428,000 after purchasing an additional 288 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC grew its stake in shares of Johnson & Johnson by 0.7% in the first quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock worth $7,464,000 after purchasing an additional 325 shares in the last quarter. Finally, Capital Asset Advisory Services LLC boosted its stake in Johnson & Johnson by 8.8% during the first quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock valued at $4,044,000 after buying an additional 2,151 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other 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.