Johnson & Johnson (JNJ) Stock Rating Lowered by 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. “
Several other analysts have also recently weighed in on JNJ. BTIG Research reissued a “neutral” rating on shares of Johnson & Johnson in a report on Friday, June 3rd. Leerink Swann reissued a “buy” rating on shares of Johnson & Johnson in a report on Sunday, September 11th. Wells Fargo & Co. reissued a “buy” rating on shares of Johnson & Johnson in a report on Monday, July 11th. BMO Capital Markets reissued an “outperform” rating and set a $132.00 price target on shares of Johnson & Johnson in a report on Wednesday, July 20th. Finally, Jefferies Group dropped their price target on Johnson & Johnson from $119.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday, September 13th. 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 company currently has a consensus rating of “Hold” and an average target price of $119.57.
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Shares of Johnson & Johnson (NYSE:JNJ) traded up 0.37% during midday trading on Tuesday, hitting $118.10. The company had a trading volume of 3,320,400 shares. Johnson & Johnson has a 12-month low of $89.90 and a 12-month high of $126.07. The firm’s 50-day moving average is $120.64 and its 200-day moving average is $116.04. The firm has a market capitalization of $323.11 billion, a P/E ratio of 22.01 and a beta of 0.61.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, July 19th. The company reported $1.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.06. The business earned $18.50 billion during the quarter, compared to analysts’ expectations of $17.98 billion. Johnson & Johnson had a return on equity of 24.70% and a net margin of 20.97%. On average, analysts predict that Johnson & Johnson will post $6.69 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd were given a $0.80 dividend. The ex-dividend date of this dividend was Friday, August 19th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.72%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 60.15%.
In other Johnson & Johnson news, VP Dominic J. Caruso sold 41,146 shares of the company’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $125.01, for a total value of $5,143,661.46. Following the sale, the vice president now owns 157,819 shares in the company, valued at approximately $19,728,953.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Ronald A. Kapusta sold 2,935 shares of the company’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $125.01, for a total value of $366,904.35. Following the completion of the sale, the chief accounting officer now owns 28,660 shares in the company, valued at approximately $3,582,786.60. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in JNJ. Horizon Investments LLC raised its stake in shares of Johnson & Johnson by 0.3% in the second quarter. Horizon Investments LLC now owns 2,349 shares of the company’s stock valued at $285,000 after buying an additional 8 shares during the last quarter. Landmark Financial Advisors LLC raised its stake in shares of Johnson & Johnson by 0.5% in the second quarter. Landmark Financial Advisors LLC now owns 1,979 shares of the company’s stock valued at $240,000 after buying an additional 9 shares during the last quarter. Lbmc Investment Advisors LLC raised its stake in shares of Johnson & Johnson by 0.4% in the second quarter. Lbmc Investment Advisors LLC now owns 3,764 shares of the company’s stock valued at $457,000 after buying an additional 16 shares during the last quarter. Stratford Consulting LLC raised its stake in shares of Johnson & Johnson by 0.6% in the second quarter. Stratford Consulting LLC now owns 3,201 shares of the company’s stock valued at $388,000 after buying an additional 18 shares during the last quarter. Finally, Taylor Wealth Management Partners raised its stake in shares of Johnson & Johnson by 1.3% in the second quarter. Taylor Wealth Management Partners now owns 1,505 shares of the company’s stock valued at $183,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors 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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