Bank of America Issues Pessimistic Forecast for Johnson & Johnson (NYSE:JNJ) Stock Price

Johnson & Johnson (NYSE:JNJ) had its target price reduced by Bank of America from $166.00 to $160.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price target points to a potential upside of 8.61% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley increased their price objective on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Guggenheim raised their price target on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Wolfe Research initiated coverage on Johnson & Johnson in a research note on Friday, November 15th. They issued an “outperform” rating and a $190.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada increased their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and an average price target of $174.29.

Johnson & Johnson Stock Performance

Johnson & Johnson stock traded down $0.46 during trading hours on Friday, hitting $147.31. The stock had a trading volume of 4,449,899 shares, compared to its average volume of 8,001,819. The company has a 50-day moving average of $148.86 and a two-hundred day moving average of $156.01. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $168.85. The company has a market cap of $354.67 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 2.30 and a beta of 0.51.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. During the same period in the prior year, the company posted $2.66 earnings per share. Johnson & Johnson’s revenue was up 5.2% on a year-over-year basis. On average, equities research analysts anticipate that Johnson & Johnson will post 9.94 EPS for the current fiscal year.

Insider Buying and Selling at Johnson & Johnson

In related news, Director Mark A. Weinberger purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were acquired at an average cost of $147.22 per share, with a total value of $147,220.00. Following the completion of the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at $147,220. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of JNJ. International Assets Investment Management LLC grew its position in shares of Johnson & Johnson by 20,130.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock worth $559,832,000 after buying an additional 3,437,397 shares during the period. Marshall Wace LLP boosted its stake in Johnson & Johnson by 506.9% in the second quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock valued at $567,826,000 after acquiring an additional 3,244,862 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Johnson & Johnson by 228.1% during the 3rd quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company’s stock worth $549,223,000 after acquiring an additional 2,356,359 shares during the period. Franklin Resources Inc. lifted its stake in shares of Johnson & Johnson by 11.4% in the 3rd quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after purchasing an additional 1,729,281 shares during the period. Finally, Holocene Advisors LP bought a new position in shares of Johnson & Johnson in the 3rd quarter worth $225,040,000. Institutional investors and hedge funds 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.