Thomson Reuters/Verus Downgrades Johnson & Johnson to Sell (JNJ)
Johnson & Johnson (NYSE:JNJ) was downgraded by equities researchers at Thomson Reuters/Verus from a “hold” rating to a “sell” rating in a research report issued on Monday, Analyst RN reports.
Johnson & Johnson (NYSE:JNJ) traded up 0.12% on Monday, hitting $89.56. 3,220,497 shares of the company’s stock traded hands. Johnson & Johnson has a one year low of $68.07 and a one year high of $94.42. The stock’s 50-day moving average is $87.67 and its 200-day moving average is $87.14. The company has a market cap of $252.4 billion and a P/E ratio of 19.86.
Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, July 16th. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.39 by $0.09. The company had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $17.71 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis. On average, analysts predict that Johnson & Johnson will post $5.46 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs Group Inc. upgraded shares of Johnson & Johnson from a “sell” rating to a “neutral” rating in a research note to investors on Friday. They now have a $95.00 price target on the stock, up previously from $87.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Johnson & Johnson in a research note to investors on Friday, August 30th. They now have a $91.00 price target on the stock. Finally, analysts at Argus raised their price target on shares of Johnson & Johnson from $8.00 to $104.00 in a research note to investors on Thursday, July 18th. They now have a “buy” rating on the stock. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. Johnson & Johnson currently has an average rating of “Hold” and an average price target of $88.29.
Johnson & Johnson is a holding company. The Company is engaged in the research and development, manufacture and sale of a broad range of products in the health care field.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.