Johnson & Johnson (JNJ) Given a $147.00 Price Target by Cowen and Company Analysts
Johnson & Johnson (NYSE:JNJ) has been assigned a $147.00 target price by research analysts at Cowen and Company in a note issued to investors on Friday. The brokerage currently has a “buy” rating on the stock. Cowen and Company’s target price would suggest a potential upside of 10.34% from the stock’s previous close.
A number of other research analysts have also recently commented on the company. Zacks Investment Research upgraded Johnson & Johnson from a “sell” rating to a “hold” rating in a research note on Wednesday. Piper Jaffray Companies restated a “hold” rating and set a $120.00 price objective on shares of Johnson & Johnson in a research note on Wednesday. UBS AG restated a “buy” rating and set a $148.00 price objective on shares of Johnson & Johnson in a research note on Saturday, September 30th. Citigroup Inc. began coverage on Johnson & Johnson in a research note on Monday, September 25th. They set a “neutral” rating and a $140.00 price objective on the stock. Finally, Goldman Sachs Group, Inc. (The) cut Johnson & Johnson from a “neutral” rating to a “sell” rating and boosted their price objective for the stock from $125.00 to $130.00 in a research note on Wednesday, September 20th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $134.79.
Johnson & Johnson (NYSE:JNJ) traded up 0.02% during midday trading on Friday, hitting $133.22. The company had a trading volume of 2,469,473 shares. The firm has a market cap of $357.56 billion, a price-to-earnings ratio of 22.54 and a beta of 0.78. Johnson & Johnson has a 52-week low of $109.32 and a 52-week high of $137.08. The stock has a 50 day moving average of $132.23 and a 200 day moving average of $129.83.
Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, July 18th. The company reported $1.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.04. Johnson & Johnson had a return on equity of 26.76% and a net margin of 22.52%. The firm had revenue of $18.84 billion for the quarter, compared to analysts’ expectations of $18.94 billion. During the same quarter last year, the firm earned $1.74 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts anticipate that Johnson & Johnson will post $7.18 EPS for the current year.
In other Johnson & Johnson news, VP Paulus Stoffels sold 102,692 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $133.14, for a total value of $13,672,412.88. Following the completion of the sale, the vice president now directly owns 230,342 shares in the company, valued at $30,667,733.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Dominic J. Caruso sold 82,591 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $136.72, for a total value of $11,291,841.52. Following the completion of the sale, the vice president now owns 226,693 shares of the company’s stock, valued at $30,993,466.96. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harding Loevner LP acquired a new stake in Johnson & Johnson in the second quarter worth approximately $106,000. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its position in Johnson & Johnson by 29.9% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 870 shares of the company’s stock worth $115,000 after purchasing an additional 200 shares during the period. Lenox Wealth Advisors Inc. lifted its position in Johnson & Johnson by 0.6% in the second quarter. Lenox Wealth Advisors Inc. now owns 876 shares of the company’s stock worth $116,000 after purchasing an additional 5 shares during the period. IHT Wealth Management LLC lifted its position in Johnson & Johnson by 46.4% in the second quarter. IHT Wealth Management LLC now owns 10,942 shares of the company’s stock worth $122,000 after purchasing an additional 3,467 shares during the period. Finally, Mountain Capital Investment Advisors Inc acquired a new stake in Johnson & Johnson in the second quarter worth approximately $124,000. Hedge funds and other institutional investors own 65.90% 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. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.
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