Johnson & Johnson (NYSE:JNJ) Given New $170.00 Price Target at Bank of America

Johnson & Johnson (NYSE:JNJ) had its price target decreased by Bank of America from $180.00 to $170.00 in a report issued on Wednesday, Benzinga reports. Bank of America currently has a neutral rating on the stock.

Other research analysts also recently issued research reports about the company. Cantor Fitzgerald reaffirmed an overweight rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday. StockNews.com raised shares of Johnson & Johnson from a buy rating to a strong-buy rating in a research note on Tuesday, February 6th. Royal Bank of Canada reduced their price objective on shares of Johnson & Johnson from $181.00 to $175.00 and set an outperform rating on the stock in a research note on Wednesday. Raymond James raised their target price on Johnson & Johnson from $172.00 to $175.00 and gave the stock an outperform rating in a research report on Wednesday, January 3rd. Finally, Morgan Stanley decreased their price target on Johnson & Johnson from $170.00 to $169.00 and set an equal weight rating for the company in a research note on Wednesday, January 24th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson has an average rating of Moderate Buy and an average target price of $176.36.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $144.77 on Wednesday. Johnson & Johnson has a one year low of $143.39 and a one year high of $175.97. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 0.91. The company has a market cap of $348.86 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 2.45 and a beta of 0.53. The firm has a 50 day simple moving average of $156.54 and a 200 day simple moving average of $155.74.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. The company had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a return on equity of 37.27% and a net margin of 37.79%. Johnson & Johnson’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.68 EPS. Research analysts predict that Johnson & Johnson will post 10.66 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be issued a $1.24 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.43%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is currently 34.47%.

Insider Buying and Selling

In related news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the sale, the insider now directly owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the transaction, the insider now owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $156.27, for a total value of $9,281,969.19. Following the transaction, the executive vice president now directly owns 141,416 shares in the company, valued at $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Johnson & Johnson

Several institutional investors and hedge funds have recently made changes to their positions in JNJ. Hibernia Wealth Partners LLC purchased a new position in Johnson & Johnson in the 3rd quarter worth about $27,000. FNY Investment Advisers LLC bought a new position in Johnson & Johnson during the third quarter valued at approximately $37,000. Keener Financial Planning LLC purchased a new stake in Johnson & Johnson in the fourth quarter worth approximately $40,000. Tower View Wealth Management LLC raised its stake in Johnson & Johnson by 183.3% during the 3rd quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock valued at $40,000 after buying an additional 165 shares during the last quarter. Finally, WFA Asset Management Corp lifted its holdings in shares of Johnson & Johnson by 61.4% during the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after buying an additional 97 shares during the period. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.