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Investment analysts at BMO Capital Markets initiated coverage on shares of Johnson & Johnson (NYSE:JNJ) in a note issued to investors on Friday. The firm set an “outperform” rating on the stock.

Johnson & Johnson (NYSE:JNJ) opened at 103.84 on Friday. Johnson & Johnson has a 52-week low of $85.50 and a 52-week high of $106.74. The stock’s 50-day moving average is $102.0 and its 200-day moving average is $100.0. The company has a market cap of $292.9 billion and a price-to-earnings ratio of 19.18. Johnson & Johnson also was the target of a large drop in short interest in August. As of August 15th, there was short interest totalling 22,154,213 shares, a drop of 13.2% from the July 31st total of 25,520,772 shares. Based on an average daily volume of 6,286,904 shares, the days-to-cover ratio is presently 3.5 days. Currently, 0.8% of the company’s stock are short sold.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, July 15th. The company reported $1.66 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.48 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts predict that Johnson & Johnson will post $5.93 earnings per share for the current fiscal year.

A number of other firms have also recently commented on JNJ. Analysts at Jefferies Group reiterated a “hold” rating on shares of Johnson & Johnson in a research note on Monday, August 11th. They now have a $108.00 price target on the stock, down previously from $114.00. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Johnson & Johnson in a research note on Wednesday, July 16th. They now have a $122.00 price target on the stock, up previously from $117.00. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Johnson & Johnson in a research note on Wednesday, July 16th. They now have a $107.00 price target on the stock, up previously from $102.00. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $98.00.

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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