StockNews.com Downgrades Johnson & Johnson (NYSE:JNJ) to Buy

Johnson & Johnson (NYSE:JNJ) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.

Other analysts have also recently issued research reports about the stock. Wolfe Research initiated coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective on the stock. Citigroup reduced their price target on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Wells Fargo & Company raised their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley upped their target price on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Bank of America restated a “neutral” rating and issued a $166.00 target price on shares of Johnson & Johnson in a research note on Tuesday, December 10th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $174.71.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $147.78 on Friday. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $168.85. The firm has a market cap of $355.79 billion, a P/E ratio of 21.39, a P/E/G ratio of 2.30 and a beta of 0.51. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average of $148.86 and a 200-day moving average of $156.01.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. The firm had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $2.66 EPS. Sell-side analysts expect that Johnson & Johnson will post 9.94 EPS for the current year.

Insider Activity at Johnson & Johnson

In other news, Director Mark A. Weinberger bought 1,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of $147.22 per share, with a total value of $147,220.00. Following the completion of the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $147,220. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Johnson & Johnson

Several institutional investors and hedge funds have recently made changes to their positions in JNJ. WCG Wealth Advisors LLC raised its position in Johnson & Johnson by 13.0% in the 2nd quarter. WCG Wealth Advisors LLC now owns 12,124 shares of the company’s stock worth $1,772,000 after buying an additional 1,395 shares during the last quarter. Richardson Financial Services Inc. grew its stake in shares of Johnson & Johnson by 21.5% in the second quarter. Richardson Financial Services Inc. now owns 497 shares of the company’s stock worth $73,000 after acquiring an additional 88 shares during the period. Brighton Jones LLC lifted its position in Johnson & Johnson by 35.9% during the second quarter. Brighton Jones LLC now owns 49,470 shares of the company’s stock valued at $7,231,000 after purchasing an additional 13,078 shares during the period. Trust Investment Advisors purchased a new stake in Johnson & Johnson in the second quarter worth approximately $291,000. Finally, Retirement Investment Advisors Inc. bought a new stake in Johnson & Johnson in the 2nd quarter worth approximately $208,000. 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.