Jefferies Group LLC Upgrades Johnson & Johnson (JNJ) to Buy

Johnson & Johnson (NYSE:JNJ) was upgraded by stock analysts at Jefferies Group LLC from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage presently has a $157.00 target price on the stock, up from their previous target price of $145.00. Jefferies Group LLC’s price objective suggests a potential upside of 14.74% from the company’s current price. Jefferies Group also issued estimates for Johnson & Johnson’s FY2017 earnings at $7.22 EPS, FY2018 earnings at $8.18 EPS, FY2019 earnings at $8.96 EPS, FY2020 earnings at $9.69 EPS and FY2021 earnings at $10.58 EPS.

A number of other equities analysts have also recently issued reports on JNJ. Cowen and Company set a $147.00 price objective on shares of Johnson & Johnson and gave the company a “buy” rating in a research note on Friday, October 6th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $120.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 4th. Zacks Investment Research raised shares of Johnson & Johnson from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. J P Morgan Chase & Co raised their price objective on shares of Johnson & Johnson from $140.00 to $148.00 and gave the company an “overweight” rating in a research note on Wednesday, August 16th. Finally, Citigroup Inc. assumed coverage on shares of Johnson & Johnson in a research note on Monday, September 25th. They issued a “neutral” rating and a $140.00 price objective on the stock. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $135.98.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, July 18th. The company reported $1.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.79 by $0.04. Johnson & Johnson had a net margin of 22.52% and a return on equity of 26.76%. The business had revenue of $18.84 billion for the quarter, compared to analysts’ expectations of $18.94 billion. During the same period in the prior year, the firm earned $1.74 earnings per share. Johnson & Johnson’s revenue was up 1.9% compared to the same quarter last year.

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In related news, VP Paulus Stoffels sold 102,692 shares of the stock in a transaction on Monday, July 24th. The shares were sold at an average price of $133.14, for a total transaction of $13,672,412.88. Following the transaction, the vice president now directly owns 230,342 shares of the company’s stock, valued at $30,667,733.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Dominic J. Caruso sold 82,591 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $136.72, for a total transaction of $11,291,841.52. Following the transaction, the vice president now directly owns 226,693 shares in the company, valued at $30,993,466.96. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of JNJ. Capital Asset Advisory Services LLC acquired a new position in Johnson & Johnson during the first quarter worth $219,000. First National Bank of Omaha raised its holdings in Johnson & Johnson by 8.0% during the first quarter. First National Bank of Omaha now owns 52,648 shares of the company’s stock worth $6,558,000 after buying an additional 3,919 shares during the last quarter. Stillwater Capital Advisors LLC raised its holdings in Johnson & Johnson by 46.2% during the first quarter. Stillwater Capital Advisors LLC now owns 87,867 shares of the company’s stock worth $10,944,000 after buying an additional 27,785 shares during the last quarter. TNB Financial acquired a new position in Johnson & Johnson during the first quarter worth $3,438,000. Finally, Horan Capital Management raised its holdings in Johnson & Johnson by 5.8% during the first quarter. Horan Capital Management now owns 66,552 shares of the company’s stock worth $8,289,000 after buying an additional 3,633 shares during the last quarter. 65.90% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Johnson & Johnson (NYSE:JNJ)

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