Johnson & Johnson (NYSE:JNJ) Given New $171.00 Price Target at Bank of America

Johnson & Johnson (NYSE:JNJ) had its price target lifted by Bank of America from $159.00 to $171.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s target price would indicate a potential upside of 3.89% from the company’s previous close.

Several other brokerages also recently weighed in on JNJ. Stifel Nicolaus decreased their target price on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Citigroup lowered their price target on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Argus upgraded shares of Johnson & Johnson to a “strong-buy” rating in a report on Friday, January 24th. Wolfe Research assumed coverage on Johnson & Johnson in a research note on Friday, November 15th. They set an “outperform” rating and a $190.00 target price for the company. Finally, Barclays boosted their price target on Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 28th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $171.33.

Johnson & Johnson Stock Performance

Shares of JNJ stock traded down $0.82 during trading hours on Wednesday, reaching $164.60. 4,196,561 shares of the company’s stock were exchanged, compared to its average volume of 6,994,079. The company’s 50 day moving average is $151.73 and its two-hundred day moving average is $156.12. The company has a market cap of $396.30 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 2.56 and a beta of 0.52. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.05. The company had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. Johnson & Johnson’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.29 earnings per share. Equities research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Timothy Schmid sold 403 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the completion of the sale, the executive vice president now owns 15,098 shares in the company, valued at $2,357,552.70. This represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Weinberger purchased 1,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were acquired 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 $147,220. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Johnson & Johnson

Institutional investors have recently bought and sold shares of the business. Knuff & Co LLC increased its stake in Johnson & Johnson by 0.7% in the 3rd quarter. Knuff & Co LLC now owns 9,466 shares of the company’s stock valued at $1,534,000 after buying an additional 64 shares during the period. Vertex Planning Partners LLC increased its stake in shares of Johnson & Johnson by 1.3% in the third quarter. Vertex Planning Partners LLC now owns 5,211 shares of the company’s stock worth $844,000 after acquiring an additional 65 shares during the last quarter. MRP Capital Investments LLC raised its holdings in shares of Johnson & Johnson by 4.1% during the fourth quarter. MRP Capital Investments LLC now owns 1,640 shares of the company’s stock worth $237,000 after acquiring an additional 65 shares in the last quarter. Syverson Strege & Co boosted its position in Johnson & Johnson by 4.9% during the fourth quarter. Syverson Strege & Co now owns 1,394 shares of the company’s stock valued at $202,000 after purchasing an additional 65 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management raised its stake in shares of Johnson & Johnson by 3.3% during the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,080 shares of the company’s stock worth $301,000 after purchasing an additional 66 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Company Profile

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.