Raymond James Has Lowered Expectations for Johnson & Johnson (NYSE:JNJ) Stock Price

Johnson & Johnson (NYSE:JNJ) had its price target dropped by analysts at Raymond James from $170.00 to $165.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Raymond James’ target price would indicate a potential upside of 13.49% from the stock’s current price.

Several other research firms have also recently weighed in on JNJ. Guggenheim lifted their price objective on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Wells Fargo & Company lifted their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 17th. Morgan Stanley lifted their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Wolfe Research assumed coverage on Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $172.69.

Johnson & Johnson Stock Down 1.9 %

Shares of NYSE:JNJ opened at $145.39 on Thursday. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $168.85. The company has a market cap of $350.04 billion, a PE ratio of 21.04, a P/E/G ratio of 2.52 and a beta of 0.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The stock’s 50-day moving average is $148.10 and its 200 day moving average is $156.05.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company had revenue of $22.52 billion for the quarter, compared to the consensus estimate of $22,438,500 billion. During the same quarter in the previous year, the business earned $2.29 EPS. Johnson & Johnson’s revenue was up 5.3% compared to the same quarter last year. Sell-side analysts anticipate that Johnson & Johnson will post 9.95 EPS for the current year.

Insider Buying and Selling

In other news, Director Mark A. Weinberger acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the acquisition, the director now directly owns 1,000 shares in the company, valued at approximately $147,220. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On Johnson & Johnson

A number of hedge funds have recently added to or reduced their stakes in JNJ. International Assets Investment Management LLC raised its stake in Johnson & Johnson by 20,130.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock valued at $559,832,000 after buying an additional 3,437,397 shares during the last quarter. Janus Henderson Group PLC raised its stake in Johnson & Johnson by 228.1% during the 3rd quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company’s stock valued at $549,223,000 after buying an additional 2,356,359 shares during the last quarter. Franklin Resources Inc. raised its stake in Johnson & Johnson by 11.4% during the 3rd quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after buying an additional 1,729,281 shares during the last quarter. Holocene Advisors LP purchased a new stake in Johnson & Johnson during the 3rd quarter valued at $225,040,000. Finally, FMR LLC raised its stake in Johnson & Johnson by 7.4% during the 3rd quarter. FMR LLC now owns 18,316,920 shares of the company’s stock valued at $2,968,440,000 after buying an additional 1,265,748 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.