Morgan Stanley Boosts Johnson & Johnson (NYSE:JNJ) Price Target to $169.00
Morgan Stanley raised the price target for Johnson & Johnson from $167 to $169 and gave it an "equal weight" rating. Other research firms have also commented on JNJ, with varying ratings. The stock opened at $156.58 and has a 52-week high of $175.97. Johnson & Johnson reported earnings per share of $2.82 for the quarter, beating estimates. Hedge funds have made changes to their positions in JNJ. The company, together with its subsidiaries, researches, develops, manufactures, and sells various healthcare products worldwide.
Johnson & Johnson (NYSE:JNJ - Get Free Report) had its price target increased by research analysts at Morgan Stanley from $167.00 to $169.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price target points to a potential upside of 7.93% from the stock's current price.
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Several other research firms have also commented on JNJ. Bank of America dropped their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a "neutral" rating for the company in a research note on Wednesday, April 17th. The Goldman Sachs Group assumed coverage on Johnson & Johnson in a research report on Thursday, May 30th. They set a "neutral" rating and a $160.00 target price for the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $175.00 target price on shares of Johnson & Johnson in a report on Monday, June 17th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Monday, July 1st. Finally, HSBC upgraded Johnson & Johnson from a "hold" rating to a "buy" rating and boosted their price target for the stock from $169.00 to $170.00 in a research note on Thursday, April 18th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.21.
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Johnson & Johnson Trading Up 3.7 %
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JNJ stock opened at $156.58 on Thursday. The firm has a fifty day moving average price of $148.15 and a 200 day moving average price of $153.39. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. The firm has a market cap of $376.84 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 2.54 and a beta of 0.52.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating analysts' consensus estimates of $2.71 by $0.11. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The firm had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. During the same period last year, the firm posted $2.80 earnings per share. Johnson & Johnson's revenue for the quarter was up 4.3% compared to the same quarter last year. Sell-side analysts anticipate that Johnson & Johnson will post 10.49 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Johnson & Johnson
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A number of hedge funds have recently made changes to their positions in JNJ. Norges Bank acquired a new stake in shares of Johnson & Johnson in the fourth quarter worth approximately $4,071,642,000. Wellington Management Group LLP boosted its stake in shares of Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company's stock worth $3,764,852,000 after acquiring an additional 3,391,657 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Johnson & Johnson by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company's stock worth $3,453,978,000 after acquiring an additional 3,139,499 shares during the last quarter. Swedbank AB acquired a new stake in shares of Johnson & Johnson in the first quarter worth approximately $331,178,000. Finally, International Assets Investment Management LLC grew its holdings in Johnson & Johnson by 7,875.8% in the 4th quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company's stock valued at $327,647,000 after buying an additional 2,064,175 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.
Johnson & Johnson Company Profile
(Get Free Report)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.
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