Johnson & Johnson Rating Lowered to Sell at Goldman Sachs Group Inc. (JNJ)
Johnson & Johnson (NYSE:JNJ) was downgraded by research analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “sell” rating in a report released on Tuesday, Stock Ratings Network.com reports. They currently have a $104.00 price objective on the stock, up from their previous price objective of $40.00. Goldman Sachs Group Inc.’s target price indicates a potential upside of 12.64% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital upgraded shares of Johnson & Johnson from a “sector perform” rating to an “outperform” rating in a research note to investors on Tuesday. They now have a $104.00 price target on the stock, up previously from $88.00. Separately, analysts at Guggenheim raised their price target on shares of Johnson & Johnson from $47.00 to $60.00 in a research note to investors on Tuesday, December 17th. Finally, analysts at Robert W. Baird raised their price target on shares of Johnson & Johnson from $56.00 to $62.00 in a research note to investors on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. Johnson & Johnson presently has an average rating of “Hold” and a consensus target price of $85.00.
Shares of Johnson & Johnson (NYSE:JNJ) traded up 1.93% on Tuesday, hitting $94.11. The stock had a trading volume of 4,593,834 shares. Johnson & Johnson has a 52-week low of $71.25 and a 52-week high of $95.99. The stock has a 50-day moving average of $93.1 and a 200-day moving average of $90.7. The company has a market cap of $265.5 billion and a price-to-earnings ratio of 20.59.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be paid a dividend of 0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Friday, February 21st.
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.
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