Barclays Forecasts Strong Price Appreciation for Johnson & Johnson (NYSE:JNJ) Stock

Johnson & Johnson (NYSE:JNJ) had its target price lifted by equities researchers at Barclays from $159.00 to $166.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential upside of 8.56% from the stock’s current price.

JNJ has been the subject of a number of other reports. Bank of America lowered their price target on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company lowered their target price on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Guggenheim boosted their price target on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Citigroup dropped their price objective on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.44.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $152.91 on Tuesday. The firm has a market cap of $368.15 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 2.45 and a beta of 0.51. The company’s 50-day moving average is $147.85 and its two-hundred day moving average is $156.10. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $168.85. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share 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 net margin of 18.20% and a return on equity of 34.35%. Johnson & Johnson’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $2.29 EPS. Research analysts expect that Johnson & Johnson will post 10.56 EPS for the current year.

Insider Activity at Johnson & Johnson

In other news, Director Mark A. Weinberger bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the purchase, the director now owns 1,000 shares of the company’s stock, valued at $147,220. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Johnson & Johnson

Large investors have recently modified their holdings of the stock. Dark Forest Capital Management LP acquired a new stake in shares of Johnson & Johnson during the second quarter worth approximately $223,000. Invst LLC boosted its stake in Johnson & Johnson by 11.7% in the second quarter. Invst LLC now owns 2,083 shares of the company’s stock worth $305,000 after purchasing an additional 218 shares in the last quarter. Quarry LP acquired a new stake in shares of Johnson & Johnson in the second quarter valued at $49,000. Gateway Wealth Partners LLC raised its holdings in shares of Johnson & Johnson by 12.6% in the second quarter. Gateway Wealth Partners LLC now owns 2,412 shares of the company’s stock valued at $352,000 after buying an additional 270 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in Johnson & Johnson by 4.9% during the 2nd quarter. Truist Financial Corp now owns 2,122,856 shares of the company’s stock worth $310,277,000 after acquiring an additional 98,903 shares during the last quarter. 69.55% of the stock is currently owned by 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.