Zacks Investment Research upgraded shares of Johnson & Johnson (NYSE:JNJ) from a hold rating to a buy rating in a research note issued to investors on Wednesday. The firm currently has $145.00 price target on the stock.
According to Zacks, “J&J’s sales growth accelerated in the second half of 2017 backed by higher sales in the Pharmaceutical segment and improving performance in Medical Devices. Though quite a few key products in J&J’s portfolio like Remicade and Concerta are facing generic competition, we believe that new products in all segments, label expansion of drugs like Imbruvica and Darzalex and contribution from recent acquisitions – mainly Actelion – can support top-line growth. Meanwhile, share buybacks and the restructuring initiative should provide bottom-line support. J&J is also making rapid progress with its pipeline and line extensions. J&J’s shares have outperformed the industry in the past six months. However, headwinds like generics, pricing pressure and soft global market conditions remain. Estimates have risen slightly ahead of Q1 results. J&J has a positive record of earnings surprises in the recent quarters.”
Several other brokerages have also recently issued reports on JNJ. Wells Fargo restated an outperform rating and issued a $160.00 target price (up from $155.00) on shares of Johnson & Johnson in a report on Friday, January 12th. Vetr upgraded Johnson & Johnson from a hold rating to a buy rating and set a $150.89 target price for the company in a report on Thursday, January 11th. Credit Suisse Group set a $154.00 target price on Johnson & Johnson and gave the company a hold rating in a report on Monday, January 22nd. Royal Bank of Canada reiterated a buy rating on shares of Johnson & Johnson in a report on Tuesday, January 9th. Finally, BTIG Research reiterated a sell rating and set a $110.00 price target on shares of Johnson & Johnson in a report on Wednesday, January 24th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $144.03.
Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, January 23rd. The company reported $1.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.02. The company had revenue of $20.20 billion during the quarter, compared to analysts’ expectations of $20.08 billion. Johnson & Johnson had a return on equity of 29.00% and a net margin of 1.70%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.58 EPS. equities analysts expect that Johnson & Johnson will post 8.11 earnings per share for the current fiscal year.
In related news, VP Paulus Stoffels sold 155,342 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $129.86, for a total transaction of $20,172,712.12. Following the completion of the transaction, the vice president now directly owns 357,906 shares in the company, valued at approximately $46,477,673.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.22% of the company’s stock.
A number of institutional investors have recently made changes to their positions in JNJ. BlackRock Inc. raised its position in Johnson & Johnson by 2.6% in the 2nd quarter. BlackRock Inc. now owns 174,073,764 shares of the company’s stock valued at $23,028,219,000 after purchasing an additional 4,332,612 shares in the last quarter. Janus Henderson Group PLC raised its position in Johnson & Johnson by 717.9% in the 2nd quarter. Janus Henderson Group PLC now owns 3,748,008 shares of the company’s stock valued at $495,837,000 after purchasing an additional 3,289,763 shares in the last quarter. Vanguard Group Inc. raised its position in Johnson & Johnson by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 200,450,985 shares of the company’s stock valued at $26,517,661,000 after purchasing an additional 3,023,110 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in Johnson & Johnson by 47.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 7,970,670 shares of the company’s stock valued at $1,054,433,000 after purchasing an additional 2,581,562 shares in the last quarter. Finally, Stifel Financial Corp raised its position in Johnson & Johnson by 6,715.9% in the 3rd quarter. Stifel Financial Corp now owns 2,572,663 shares of the company’s stock valued at $334,777,000 after purchasing an additional 2,534,918 shares in the last quarter. Institutional investors own 67.24% of the company’s stock.
Johnson & Johnson Company Profile
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. Its Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, RoC, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.
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