Johnson & Johnson (NYSE:JNJ) Rating Reiterated by Royal Bank of Canada

Johnson & Johnson (NYSE:JNJ)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a research note issued on Friday, Benzinga reports. They presently have a $175.00 target price on the stock. Royal Bank of Canada’s target price indicates a potential upside of 6.72% from the company’s current price.

Several other research analysts have also commented on the company. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. The Goldman Sachs Group dropped their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Morgan Stanley boosted their price objective on shares of Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Price Performance

NYSE JNJ traded down $0.84 during trading on Friday, hitting $163.98. 1,789,392 shares of the stock traded hands, compared to its average volume of 7,124,047. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The firm has a 50-day simple moving average of $161.02 and a 200-day simple moving average of $154.17. The company has a market capitalization of $394.65 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53.

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

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Institutional Trading of Johnson & Johnson

Hedge funds have recently bought and sold shares of the stock. Summit Wealth Partners LLC boosted its position in Johnson & Johnson by 0.6% during the second quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock valued at $1,463,000 after purchasing an additional 61 shares in the last quarter. Citizens & Northern Corp boosted its holdings in shares of Johnson & Johnson by 3.5% in the 2nd quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock valued at $275,000 after buying an additional 63 shares in the last quarter. Carolinas Wealth Consulting LLC grew its position in shares of Johnson & Johnson by 0.4% in the 4th 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 last quarter. Epic Trust Investment Advisors LLC raised its stake in shares of Johnson & Johnson by 3.6% during the 2nd quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock worth $268,000 after acquiring an additional 64 shares in the last quarter. Finally, Pine Harbor Wealth Management LLC lifted its position in Johnson & Johnson by 1.9% during the second quarter. Pine Harbor Wealth Management LLC now owns 3,472 shares of the company’s stock valued at $507,000 after acquiring an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

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.