Bank of America Cuts Johnson & Johnson (NYSE:JNJ) Price Target to $159.00

Johnson & Johnson (NYSE:JNJ) had its price objective reduced by Bank of America from $160.00 to $159.00 in a report issued on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued research reports about the company. Wolfe Research began coverage on Johnson & Johnson in a research note on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective on the stock. Morgan Stanley raised their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Citigroup cut their price objective on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Guggenheim raised their target price on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada boosted their price target on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.06.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $146.76 on Thursday. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $168.85. The company has a market capitalization of $353.34 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 2.45 and a beta of 0.51. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average price of $147.85 and a two-hundred day moving average price of $155.99.

Johnson & Johnson (NYSE:JNJ) last issued 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. The firm had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22,438,500 billion. Johnson & Johnson had a return on equity of 34.35% and a net margin of 18.20%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.29 EPS. As a group, research analysts expect that Johnson & Johnson will post 10.56 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 annualized dividend and a yield of 3.38%. Johnson & Johnson’s payout ratio is 74.59%.

Insiders Place Their Bets

In related news, Director Mark A. Weinberger acquired 1,000 shares of Johnson & Johnson stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the purchase, the director now directly owns 1,000 shares in the company, valued at $147,220. This trade represents a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

Hedge Funds Weigh In On Johnson & Johnson

Institutional investors and hedge funds have recently bought and sold shares of the stock. IFS Advisors LLC boosted its stake in shares of Johnson & Johnson by 138.9% in the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the period. Highline Wealth Partners LLC acquired a new position in Johnson & Johnson in the 3rd quarter worth $31,000. RPg Family Wealth Advisory LLC purchased a new position in Johnson & Johnson in the 3rd quarter valued at about $35,000. Mowery & Schoenfeld Wealth Management LLC grew 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 acquiring an additional 91 shares in the last quarter. Finally, Activest Wealth Management purchased a new stake in shares of Johnson & Johnson during the third quarter worth about $40,000. 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.