Johnson & Johnson’s (JNJ) Overweight Rating Reiterated at Cantor Fitzgerald

Johnson & Johnson (NYSE:JNJ)‘s stock had its “overweight” rating reiterated by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $215.00 price target on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 47.23% from the company’s previous close.

A number of other research analysts have also weighed in on JNJ. The Goldman Sachs Group initiated coverage on shares of Johnson & Johnson in a research report on Thursday, May 30th. They set a “neutral” rating and a $160.00 target price for the company. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Morgan Stanley cut their price target on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research note on Monday, June 17th. Finally, HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price target for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.07.

Johnson & Johnson Trading Down 0.3 %

Johnson & Johnson stock opened at $146.03 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The company has a market capitalization of $351.45 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 2.43 and a beta of 0.52. The company’s fifty day moving average price is $148.09 and its two-hundred day moving average price is $153.97. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The firm had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. During the same quarter in the prior year, the business earned $2.68 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. On average, analysts forecast that Johnson & Johnson will post 10.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Johnson & Johnson

A number of hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new position in Johnson & Johnson during the fourth quarter worth $4,071,642,000. Wellington Management Group LLP increased its position in shares of Johnson & Johnson by 16.4% during the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after purchasing an additional 3,391,657 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Johnson & Johnson by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after purchasing an additional 3,139,499 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Johnson & Johnson by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock valued at $2,483,532,000 after buying an additional 241,799 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in Johnson & Johnson by 4.9% during the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock worth $1,664,620,000 after buying an additional 498,647 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

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.