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

Johnson & Johnson (NYSE:JNJ) had its price objective increased by Bank of America from $159.00 to $171.00 in a report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts also recently weighed in on JNJ. Argus upgraded Johnson & Johnson to a “strong-buy” rating in a research note on Friday, January 24th. Guggenheim raised their target price on shares of Johnson & Johnson from $162.00 to $166.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 25th. Barclays raised their price objective on shares of Johnson & Johnson from $159.00 to $166.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 28th. Finally, Wolfe Research started coverage on Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 target price on the stock. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average price target of $171.33.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $165.22 on Wednesday. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The business has a 50-day simple moving average of $152.11 and a 200-day simple moving average of $156.19. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. The company has a market cap of $397.79 billion, a PE ratio of 24.85, a P/E/G ratio of 2.56 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The firm had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22.44 billion. During the same period in the prior year, the firm earned $2.29 EPS. The business’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is currently 74.59%.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 6,999 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total value of $1,160,994.12. Following the sale, the vice president now owns 21,001 shares of the company’s stock, valued at approximately $3,483,645.88. The trade was a 25.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Weinberger purchased 1,000 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was acquired at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the transaction, the director now 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. 0.16% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Johnson & Johnson

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFS Advisors LLC grew its stake in Johnson & Johnson by 138.9% during the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. WealthTrak Capital Management LLC purchased a new position in Johnson & Johnson during the fourth quarter valued at approximately $26,000. Mountain Hill Investment Partners Corp. acquired a new position in Johnson & Johnson in the 4th quarter valued at approximately $29,000. Bay Harbor Wealth Management LLC purchased a new stake in Johnson & Johnson in the 4th quarter worth approximately $32,000. Finally, Conquis Financial LLC acquired a new stake in shares of Johnson & Johnson during the 4th quarter valued at $33,000. 69.55% of the stock is currently owned by hedge funds and other 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.