Johnson & Johnson (NYSE:JNJ) Receives “Outperform” Rating from Royal Bank of Canada

Johnson & Johnson (NYSE:JNJ)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a report released on Friday, Benzinga reports. They currently have a $175.00 price objective on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 6.60% from the company’s current price.

A number of other research firms also recently weighed in on JNJ. TD Securities reduced their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Morgan Stanley upped their price target on Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Finally, Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Trading Down 0.4 %

Shares of JNJ opened at $164.16 on Friday. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The firm’s 50-day moving average price is $161.30 and its 200-day moving average price is $154.16. The firm has a market capitalization of $395.08 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 2.71 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. The firm had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.80 EPS. Sell-side analysts anticipate that Johnson & Johnson will post 10.02 EPS for the current year.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Johnson & Johnson

A number of large investors have recently made changes to their positions in JNJ. Summit Wealth Partners LLC boosted its stake in shares of Johnson & Johnson by 0.6% during the second quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock worth $1,463,000 after buying an additional 61 shares during the period. Citizens & Northern Corp boosted its stake in shares of Johnson & Johnson by 3.5% during the second quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock worth $275,000 after buying an additional 63 shares during the period. Carolinas Wealth Consulting LLC boosted its stake in shares of Johnson & Johnson by 0.4% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 16,861 shares of the company’s stock worth $2,643,000 after buying an additional 64 shares during the period. Epic Trust Investment Advisors LLC boosted its stake in shares of Johnson & Johnson by 3.6% during the second quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock worth $268,000 after buying an additional 64 shares during the period. Finally, Pine Harbor Wealth Management LLC boosted its stake in shares of Johnson & Johnson by 1.9% during the second quarter. Pine Harbor Wealth Management LLC now owns 3,472 shares of the company’s stock worth $507,000 after buying an additional 64 shares during the period. 69.55% of the stock is currently owned by institutional investors.

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.