Johnson & Johnson (NYSE:JNJ) Given New $169.00 Price Target at Leerink Partners

Johnson & Johnson (NYSE:JNJ) had its price target reduced by Leerink Partners from $182.00 to $169.00 in a report issued on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other analysts have also issued reports about the stock. Morgan Stanley upped their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Bank of America dropped their price objective on Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating on the stock in a research note on Thursday. Guggenheim raised their target price on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus cut their price target on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a report on Thursday. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $170.06.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $146.58 on Thursday. The business has a 50 day simple moving average of $148.10 and a 200 day simple moving average of $156.05. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The firm has a market capitalization of $352.91 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 2.52 and a beta of 0.51. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. The company had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22,438,500 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $2.29 earnings per share. On average, equities research analysts anticipate that Johnson & Johnson will post 9.95 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a $1.24 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.38%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were bought at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the acquisition, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $147,220. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fred Alger Management LLC raised its holdings in shares of Johnson & Johnson by 6.1% during the second quarter. Fred Alger Management LLC now owns 42,968 shares of the company’s stock worth $6,280,000 after acquiring an additional 2,488 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Johnson & Johnson by 38.6% during the 2nd quarter. AQR Capital Management LLC now owns 3,350,292 shares of the company’s stock worth $489,176,000 after purchasing an additional 932,477 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Johnson & Johnson by 5.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock valued at $2,100,427,000 after buying an additional 754,200 shares during the last quarter. Drucker Wealth 3.0 LLC acquired a new position in Johnson & Johnson in the second quarter worth approximately $612,000. Finally, Daymark Wealth Partners LLC raised its position in Johnson & Johnson by 2.0% during the second quarter. Daymark Wealth Partners LLC now owns 304,204 shares of the company’s stock valued at $44,462,000 after acquiring an additional 6,033 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.