Johnson & Johnson (NYSE:JNJ) Price Target Lowered to $175.00 at Royal Bank of Canada

Johnson & Johnson (NYSE:JNJ) had its price target decreased by stock analysts at Royal Bank of Canada from $181.00 to $175.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 21.23% from the company’s current price.

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

Johnson & Johnson Stock Down 0.1 %

Shares of Johnson & Johnson stock traded down $0.10 during trading on Wednesday, reaching $144.35. The company’s stock had a trading volume of 6,956,818 shares, compared to its average volume of 7,180,221. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. The company has a market cap of $347.85 billion, a price-to-earnings ratio of 10.44, a P/E/G ratio of 2.45 and a beta of 0.53. Johnson & Johnson has a 1-year low of $143.39 and a 1-year high of $175.97. The company has a 50-day simple moving average of $156.80 and a two-hundred day simple moving average of $155.82.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The firm 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%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.68 EPS. As a group, equities analysts forecast that Johnson & Johnson will post 10.66 earnings per share for the current year.

Insider Buying and Selling

In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the 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 transaction, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the 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 transaction, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jennifer L. Taubert sold 59,397 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction 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 insiders.

Hedge Funds Weigh In On Johnson & Johnson

Several hedge funds and other institutional investors have recently modified their holdings of JNJ. Hibernia Wealth Partners LLC acquired a new stake in Johnson & Johnson during the third quarter worth about $27,000. FNY Investment Advisers LLC acquired a new stake in Johnson & Johnson during the third quarter worth about $37,000. Keener Financial Planning LLC acquired a new stake in Johnson & Johnson during the fourth quarter worth about $40,000. Tower View Wealth Management LLC increased its position in Johnson & Johnson by 183.3% during the third quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 165 shares during the last quarter. Finally, WFA Asset Management Corp increased its position in Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

About Johnson & Johnson

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.