Wells Fargo & Company Issues Positive Forecast for Johnson & Johnson (NYSE:JNJ) Stock Price

Johnson & Johnson (NYSE:JNJ) had its target price increased by analysts at Wells Fargo & Company from $212.00 to $230.00 in a research report issued on Friday,MarketScreener reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 8.67% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. Daiwa America upgraded shares of Johnson & Johnson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Johnson & Johnson in a report on Thursday. Stifel Nicolaus raised their target price on shares of Johnson & Johnson from $165.00 to $190.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Daiwa Capital Markets upgraded Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price objective for the company in a research report on Monday, October 20th. Finally, The Goldman Sachs Group boosted their target price on Johnson & Johnson from $186.00 to $212.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus price target of $207.55.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ traded up $1.64 during trading on Friday, reaching $211.65. The company had a trading volume of 6,919,148 shares, compared to its average volume of 9,422,986. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $509.93 billion, a P/E ratio of 20.43, a price-to-earnings-growth ratio of 2.34 and a beta of 0.36. The company has a fifty day moving average of $196.09 and a two-hundred day moving average of $177.08. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $212.27.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. The business had revenue of $24.02 billion for the quarter. Equities research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Saranac Partners Ltd acquired a new stake in Johnson & Johnson in the third quarter worth about $275,000. Allworth Financial LP increased its stake in Johnson & Johnson by 2.3% during the 3rd quarter. Allworth Financial LP now owns 381,319 shares of the company’s stock valued at $70,704,000 after purchasing an additional 8,640 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Johnson & Johnson by 2.1% in the third quarter. IFP Advisors Inc now owns 32,442 shares of the company’s stock worth $6,016,000 after buying an additional 654 shares during the last quarter. Steadtrust LLC lifted its stake in shares of Johnson & Johnson by 10.4% during the third quarter. Steadtrust LLC now owns 2,735 shares of the company’s stock worth $507,000 after buying an additional 258 shares during the period. Finally, Stillwater Wealth Management Group purchased a new stake in shares of Johnson & Johnson during the third quarter valued at $375,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Company Profile

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.