Johnson & Johnson Given “Neutral” Rating at Zacks (JNJ)
Johnson & Johnson (NYSE:JNJ)‘s stock had its “neutral” rating reaffirmed by Zacks in a note issued to investors on Wednesday. They currently have a $108.00 price objective on the stock. Zacks‘s target price would indicate a potential upside of 5.68% from the company’s current price.
Zacks’ analyst wrote, “J&J beat expectations yet again with second-quarter earnings coming in at $1.66 per share, above the Zacks Consensus Estimate of $1.54 per share and 12.2% above the year-ago earnings. The company recorded growth on the back of strong pharma product sales with newly launched products like Olysio performing well. Sales jumped 9.1% year-over-year to $19.5 billion, beating the Zacks Consensus Estimate of $18.9 billion. With the company reporting strong results, earnings guidance was increased again. While we expect the company to continue facing headwinds in the form of pricing pressure, manufacturing issues, and U.S. healthcare reform, we believe the diversified business model, lack of cyclicality and strong financial position will continue helping the company pave its way through tough situations. We remain Neutral on the stock.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group reiterated a “hold” rating on shares of Johnson & Johnson in a research note on Monday. They now have a $114.00 price target on the stock, up previously from $110.00. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of Johnson & Johnson in a research note on Wednesday, July 2nd. They now have a $102.00 price target on the stock, up previously from $99.00. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Johnson & Johnson in a research note on Monday, June 30th. They now have a $108.00 price target on the stock, up previously from $100.00. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. Johnson & Johnson presently has an average rating of “Hold” and an average target price of $98.40.
Shares of Johnson & Johnson (NYSE:JNJ) traded down 1.13% on Wednesday, hitting $102.115. The stock had a trading volume of 8,309,229 shares. Johnson & Johnson has a 52-week low of $85.50 and a 52-week high of $106.74. The stock has a 50-day moving average of $103.8 and a 200-day moving average of $97.5. The company has a market cap of $288.9 billion and a P/E ratio of 19.76. Johnson & Johnson also saw unusually large options trading on Tuesday. Stock traders bought 14,753 call options on the stock. This represents an increase of approximately 300% compared to the average daily volume of 3,684 call options.
Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.12. The company had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $18.86 billion. During the same quarter in the previous year, the company posted $1.48 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, analysts predict that Johnson & Johnson will post $5.90 earnings per share for the current fiscal year.
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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