Citigroup Increases Johnson & Johnson (NYSE:JNJ) Price Target to $185.00

Johnson & Johnson (NYSE:JNJ) had its price target hoisted by research analysts at Citigroup from $180.00 to $185.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 12.18% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday. Royal Bank of Canada raised their target price on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Finally, Sanford C. Bernstein upped their price target on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus price target of $175.93.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ traded up $0.81 on Wednesday, hitting $164.91. 3,020,468 shares of the company were exchanged, compared to its average volume of 7,031,598. The stock’s 50 day moving average price is $162.70 and its 200 day moving average price is $154.52. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $396.89 billion, a P/E ratio of 10.26, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. The company had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.66 earnings per share. Sell-side analysts predict that Johnson & Johnson will post 10 EPS for the current year.

Insider Buying and Selling

In related news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Johnson & Johnson

Hedge funds and other institutional investors have recently made changes to their positions in the business. Innealta Capital LLC purchased a new stake in shares of Johnson & Johnson during the second quarter valued at approximately $27,000. MFA Wealth Advisors LLC purchased a new stake in Johnson & Johnson during the 2nd quarter worth approximately $43,000. Fairfield Financial Advisors LTD acquired a new position in shares of Johnson & Johnson in the 2nd quarter valued at approximately $46,000. Fairway Wealth LLC raised its holdings in Johnson & Johnson by 217.1% in the second quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock valued at $49,000 after acquiring an additional 228 shares in the last quarter. Finally, Quarry LP bought a new position in Johnson & Johnson during the 2nd quarter worth approximately $49,000. Institutional investors and hedge funds 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.