Johnson & Johnson (NYSE:JNJ) Price Target Lowered to $185.00 at TD Securities

Johnson & Johnson (NYSE:JNJ) had its price objective cut by TD Securities from $195.00 to $185.00 in a report released on Thursday morning, BayStreet.CA reports.

Several other research analysts have also issued reports on JNJ. TD Cowen decreased their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a buy rating for the company in a research note on Thursday. The Goldman Sachs Group started coverage on shares of Johnson & Johnson in a research note on Thursday, May 30th. They set a neutral rating and a $160.00 price objective for the company. Royal Bank of Canada restated an outperform rating and set a $175.00 price objective on shares of Johnson & Johnson in a research note on Thursday. Morgan Stanley raised their price objective on shares of Johnson & Johnson from $167.00 to $169.00 and gave the company an equal weight rating in a research note on Thursday. Finally, Cantor Fitzgerald restated an overweight rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, July 1st. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $174.64.

Johnson & Johnson Stock Down 0.5 %

Shares of Johnson & Johnson stock opened at $154.69 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The company has a 50-day moving average of $148.36 and a 200 day moving average of $153.29. The firm has a market cap of $372.29 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 2.70 and a beta of 0.52. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.11. The company had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.79%. Johnson & Johnson’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the business earned $2.80 EPS. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.07 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Tuesday, August 27th. Johnson & Johnson’s payout ratio is 30.92%.

Hedge Funds Weigh In On Johnson & Johnson

Large investors have recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc purchased a new position in Johnson & Johnson during the first quarter valued at approximately $31,000. Keener Financial Planning LLC purchased a new position in Johnson & Johnson during the fourth quarter valued at approximately $40,000. WFA Asset Management Corp lifted its holdings in Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in Johnson & Johnson during the fourth quarter valued at approximately $44,000. Finally, Disciplined Equity Management Inc. purchased a new position in Johnson & Johnson during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors 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.