Guggenheim Issues Positive Forecast for Johnson & Johnson (NYSE:JNJ) Stock Price

Johnson & Johnson (NYSE:JNJ) had its price target boosted by Guggenheim from $156.00 to $162.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also issued reports on JNJ. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Wells Fargo & Company boosted their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group cut their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Morgan Stanley boosted their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, Citigroup raised their target price on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $175.00.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ traded down $1.05 on Wednesday, hitting $156.83. 1,173,398 shares of the company were exchanged, compared to its average volume of 6,953,800. The firm has a market capitalization of $377.59 billion, a P/E ratio of 22.83, a price-to-earnings-growth ratio of 2.81 and a beta of 0.53. 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 has a 1-year low of $143.13 and a 1-year high of $168.85. The stock’s 50 day moving average price is $162.96 and its 200 day moving average price is $155.76.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter in the previous year, the firm posted $2.66 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. Sell-side analysts predict that Johnson & Johnson will post 9.94 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s payout ratio is 71.78%.

Insiders Place Their Bets

In related news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On Johnson & Johnson

Institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in Johnson & Johnson by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after acquiring an additional 3,139,499 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Johnson & Johnson by 10.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock worth $2,744,979,000 after purchasing an additional 1,831,751 shares during the period. Ameriprise Financial Inc. increased its position in shares of Johnson & Johnson by 5.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock worth $2,100,427,000 after purchasing an additional 754,200 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Johnson & Johnson by 16.2% in the second quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock valued at $1,921,565,000 after buying an additional 1,829,257 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Johnson & Johnson by 5.8% during the second quarter. American Century Companies Inc. now owns 8,014,213 shares of the company’s stock worth $1,171,357,000 after buying an additional 437,637 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

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.