Johnson & Johnson (JNJ) Rating Lowered to Hold at Zacks Investment Research
Johnson & Johnson (NYSE:JNJ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “J&J’s Pharma segment is performing well despite challenges like generic competition for a few products, currency impact and lower HCV revenues. Contribution from new as well as core products, share buybacks and the restructuring initiative should help drive results. We believe J&J’s diversified business model, deep pipeline, lack of cyclicality and strong financial position will continue helping the company pave its way through tough situations. We expect the company to continue pursuing bolt-on acquisitions and deals to boost its portfolio. J&J has a deep and promising pipeline with a good new product launch record. However, challenges for the company remain in the form of generic competition, pricing pressure and pipeline setbacks. “
Other research analysts have also issued reports about the stock. Wells Fargo & Co. restated a “buy” rating on shares of Johnson & Johnson in a report on Monday, June 6th. Deutsche Bank AG reiterated a “buy” rating and set a $142.00 price objective on shares of Johnson & Johnson in a report on Friday, August 19th. Vetr upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $124.21 price objective on the stock in a report on Monday, August 22nd. Leerink Swann reiterated a “buy” rating on shares of Johnson & Johnson in a report on Sunday, September 11th. Finally, Jefferies Group increased their price objective on shares of Johnson & Johnson from $109.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $119.57.
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Johnson & Johnson (NYSE:JNJ) traded up 0.28% on Tuesday, reaching $117.99. 2,273,166 shares of the company’s stock traded hands. The firm has a market capitalization of $322.81 billion, a P/E ratio of 21.99 and a beta of 0.61. Johnson & Johnson has a 52 week low of $89.90 and a 52 week high of $126.07. The stock has a 50-day moving average of $120.64 and a 200 day moving average of $116.04.
Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, July 19th. The company reported $1.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.06. The company had revenue of $18.50 billion for the quarter, compared to analyst estimates of $17.98 billion. Johnson & Johnson had a net margin of 20.97% and a return on equity of 24.70%. On average, equities analysts expect that Johnson & Johnson will post $6.69 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date was Friday, August 19th. Johnson & Johnson’s dividend payout ratio is currently 60.15%.
In related news, CAO Ronald A. Kapusta sold 2,935 shares of Johnson & Johnson stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $125.01, for a total transaction of $366,904.35. Following the sale, the chief accounting officer now directly owns 28,660 shares in the company, valued at $3,582,786.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Dominic J. Caruso sold 41,146 shares of Johnson & Johnson stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $125.01, for a total transaction of $5,143,661.46. Following the sale, the vice president now owns 157,819 shares in the company, valued at $19,728,953.19. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.
Several large investors have recently modified their holdings of JNJ. Norges Bank bought a new stake in shares of Johnson & Johnson during the fourth quarter worth $2,532,680,000. TRUE Private Wealth Advisors bought a new stake in shares of Johnson & Johnson during the fourth quarter worth $1,207,000. Investment Counsel Inc. bought a new stake in shares of Johnson & Johnson during the fourth quarter worth $4,078,000. Feltz Wealth PLAN Inc. bought a new stake in shares of Johnson & Johnson during the fourth quarter worth $2,410,000. Finally, Choate Investment Advisors boosted its stake in shares of Johnson & Johnson by 10.6% in the fourth quarter. Choate Investment Advisors now owns 78,607 shares of the company’s stock worth $8,220,000 after buying an additional 7,523 shares in the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.
About Johnson & Johnson
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. The Company’s segments include Consumer, Pharmaceutical and Medical Devices. The Consumer segment includes a range of products used in the baby care, oral care, skin care, over-the-counter pharmaceutical, women’s health and wound care markets.
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