Johnson & Johnson (JNJ) Rating Lowered to Hold at Vetr Inc.
Johnson & Johnson (NYSE:JNJ) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday. They currently have a $123.13 price target on the stock. Vetr‘s price objective suggests a potential upside of 3.55% from the company’s current price.
Several other research analysts also recently weighed in on the company. Zacks Investment Research downgraded Johnson & Johnson from a “buy” rating to a “hold” rating in a research note on Tuesday. Credit Suisse Group AG restated a “neutral” rating and issued a $123.00 price target on shares of Johnson & Johnson in a research note on Monday. 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 research note on Tuesday, September 13th. Leerink Swann restated a “buy” rating on shares of Johnson & Johnson in a research note on Sunday, September 11th. Finally, BTIG Research restated a “neutral” rating on shares of Johnson & Johnson in a research note on Wednesday, September 7th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $119.53.
Shares of Johnson & Johnson (NYSE:JNJ) traded up 0.81% during midday trading on Wednesday, reaching $118.91. 6,337,292 shares of the company were exchanged. The company has a 50 day moving average price of $120.26 and a 200-day moving average price of $116.14. The stock has a market capitalization of $325.32 billion, a P/E ratio of 22.16 and a beta of 0.61. Johnson & Johnson has a 12-month low of $89.90 and a 12-month high of $126.07.
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Johnson & Johnson (NYSE:JNJ) last posted 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. Johnson & Johnson had a return on equity of 24.70% and a net margin of 20.97%. The business earned $18.50 billion during the quarter, compared to the consensus estimate of $17.98 billion. On average, analysts forecast that Johnson & Johnson will post $6.69 earnings per share 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 given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Friday, August 19th. Johnson & Johnson’s payout ratio is currently 60.15%.
In related news, CAO Ronald A. Kapusta sold 2,935 shares of the firm’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $125.01, for a total transaction of $366,904.35. Following the sale, the chief accounting officer now owns 28,660 shares of the company’s stock, valued at $3,582,786.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Dominic J. Caruso sold 41,146 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $125.01, for a total value of $5,143,661.46. Following the sale, the vice president now directly owns 157,819 shares in the company, valued at approximately $19,728,953.19. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.
A number of large investors have recently modified their holdings of JNJ. Avalon Advisors LLC increased its stake in shares of Johnson & Johnson by 32.7% in the first quarter. Avalon Advisors LLC now owns 410,880 shares of the company’s stock worth $44,457,000 after buying an additional 101,250 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Johnson & Johnson by 0.4% in the first quarter. Fisher Asset Management LLC now owns 10,854,263 shares of the company’s stock valued at $1,195,923,000 after buying an additional 38,299 shares in the last quarter. British Columbia Investment Management Corp increased its stake in shares of Johnson & Johnson by 1.0% in the second quarter. British Columbia Investment Management Corp now owns 1,649,232 shares of the company’s stock valued at $200,052,000 after buying an additional 17,000 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Johnson & Johnson by 1.7% in the first quarter. Legal & General Group Plc now owns 13,449,262 shares of the company’s stock valued at $1,455,269,000 after buying an additional 226,357 shares in the last quarter. Finally, Investec Asset Management LTD increased its stake in shares of Johnson & Johnson by 49.2% in the first quarter. Investec Asset Management LTD now owns 5,050,411 shares of the company’s stock valued at $546,454,000 after buying an additional 1,665,644 shares in the last quarter. 65.32% of the stock is currently owned by institutional investors.
Johnson & Johnson Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
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