Johnson & Johnson (NYSE:JNJ) Coverage Initiated by Analysts at Daiwa Capital Markets

Daiwa Capital Markets initiated coverage on shares of Johnson & Johnson (NYSE:JNJGet Rating) in a research report released on Wednesday morning, The Fly reports. The firm issued an outperform rating on the stock.

Other research analysts also recently issued reports about the stock. StockNews.com upgraded shares of Johnson & Johnson from a buy rating to a strong-buy rating in a report on Tuesday, May 17th. The Goldman Sachs Group upped their price target on shares of Johnson & Johnson from $163.00 to $181.00 and gave the stock a neutral rating in a report on Tuesday, April 12th. Sanford C. Bernstein cut shares of Johnson & Johnson from an outperform rating to a market perform rating and boosted their price objective for the stock from $180.00 to $183.00 in a research note on Wednesday, March 16th. Raymond James boosted their price objective on shares of Johnson & Johnson from $195.00 to $196.00 and gave the stock an outperform rating in a research note on Wednesday, April 20th. Finally, Citigroup reduced their price objective on shares of Johnson & Johnson from $210.00 to $205.00 in a research note on Tuesday, May 17th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $190.50.

Shares of JNJ opened at $175.74 on Wednesday. The firm has a 50 day simple moving average of $177.66 and a two-hundred day simple moving average of $173.09. The company has a market cap of $462.44 billion, a P/E ratio of 23.68, a P/E/G ratio of 3.35 and a beta of 0.66. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.39 and a quick ratio of 1.14. Johnson & Johnson has a one year low of $155.72 and a one year high of $186.69.

Johnson & Johnson (NYSE:JNJGet Rating) last announced its quarterly earnings results on Tuesday, April 19th. The company reported $2.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.60 by $0.07. The company had revenue of $23.43 billion during the quarter, compared to the consensus estimate of $23.62 billion. Johnson & Johnson had a net margin of 20.90% and a return on equity of 36.59%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.59 earnings per share. On average, analysts expect that Johnson & Johnson will post 10.23 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 7th. Shareholders of record on Tuesday, May 24th were given a dividend of $1.13 per share. The ex-dividend date of this dividend was Monday, May 23rd. This represents a $4.52 dividend on an annualized basis and a yield of 2.57%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.06. Johnson & Johnson’s dividend payout ratio is 60.92%.

In other news, insider William Hait sold 29,699 shares of the stock in a transaction dated Thursday, April 21st. The shares were sold at an average price of $183.58, for a total transaction of $5,452,142.42. Following the transaction, the insider now owns 80,236 shares of the company’s stock, valued at approximately $14,729,724.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kathryn E. Wengel sold 40,000 shares of the stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $173.00, for a total transaction of $6,920,000.00. Following the transaction, the executive vice president now directly owns 71,311 shares in the company, valued at approximately $12,336,803. The disclosure for this sale can be found here. Insiders have sold 78,161 shares of company stock worth $13,895,302 in the last ninety days. Insiders own 0.35% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in JNJ. Norges Bank bought a new position in shares of Johnson & Johnson during the 4th quarter worth about $4,172,929,000. BlackRock Inc. raised its holdings in shares of Johnson & Johnson by 2.6% in the 4th quarter. BlackRock Inc. now owns 200,021,352 shares of the company’s stock worth $34,217,654,000 after acquiring an additional 4,982,885 shares during the last quarter. GQG Partners LLC raised its holdings in shares of Johnson & Johnson by 1,109.4% in the 4th quarter. GQG Partners LLC now owns 3,954,383 shares of the company’s stock worth $676,375,000 after acquiring an additional 3,627,424 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Johnson & Johnson by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock worth $42,205,749,000 after acquiring an additional 3,358,478 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Johnson & Johnson by 1.8% in the 4th quarter. State Street Corp now owns 144,677,639 shares of the company’s stock worth $24,750,004,000 after acquiring an additional 2,492,359 shares during the last quarter. 68.78% of the stock is currently owned by institutional investors.

Johnson & Johnson Company Profile (Get Rating)

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

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