Cantor Fitzgerald Reiterates Overweight Rating for Johnson & Johnson (NYSE:JNJ)

Cantor Fitzgerald reissued their overweight rating on shares of Johnson & Johnson (NYSE:JNJ) in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a $215.00 price target on the stock. Cantor Fitzgerald also issued estimates for Johnson & Johnson’s FY2024 earnings at $9.88 EPS.

Several other equities analysts also recently issued reports on JNJ. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Wells Fargo & Company boosted their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research note on Wednesday. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Morgan Stanley increased their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, TD Cowen decreased their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average price target of $175.93.

Johnson & Johnson Trading Up 0.4 %

NYSE:JNJ opened at $165.12 on Wednesday. The company has a market cap of $397.39 billion, a PE ratio of 10.29, a P/E/G ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The business’s 50 day moving average is $162.98 and its two-hundred day moving average is $154.69. 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 (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.21 by $0.21. The business had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.66 EPS. On average, analysts predict that Johnson & Johnson will post 10 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.00%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Insider Transactions at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction on Friday, August 30th. The stock was 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 of the company’s stock, valued at $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Johnson & Johnson

Several hedge funds have recently made changes to their positions in JNJ. Butensky & Cohen Financial Security Inc. increased its holdings in shares of Johnson & Johnson by 3.7% in the 1st quarter. Butensky & Cohen Financial Security Inc. now owns 24,220 shares of the company’s stock valued at $3,831,000 after purchasing an additional 864 shares during the period. Chickasaw Capital Management LLC lifted its position in Johnson & Johnson by 1.8% in the 1st quarter. Chickasaw Capital Management LLC now owns 18,237 shares of the company’s stock worth $2,885,000 after buying an additional 314 shares in the last quarter. Beese Fulmer Investment Management Inc. boosted its stake in shares of Johnson & Johnson by 2.9% during the 1st quarter. Beese Fulmer Investment Management Inc. now owns 121,402 shares of the company’s stock valued at $19,205,000 after buying an additional 3,459 shares during the period. Benchmark Wealth Management LLC grew its holdings in shares of Johnson & Johnson by 74.2% during the 1st quarter. Benchmark Wealth Management LLC now owns 2,716 shares of the company’s stock valued at $430,000 after acquiring an additional 1,157 shares in the last quarter. Finally, Atlas Brown Inc. increased its stake in shares of Johnson & Johnson by 7.6% in the first quarter. Atlas Brown Inc. now owns 34,599 shares of the company’s stock worth $5,473,000 after acquiring an additional 2,448 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

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.