Morgan Stanley Cuts Johnson & Johnson (NYSE:JNJ) Price Target to $163.00

Johnson & Johnson (NYSE:JNJ) had its price target cut by analysts at Morgan Stanley from $175.00 to $163.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 11.02% from the company’s current price.

Other analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Friday, January 17th. Guggenheim upped their target price on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Wells Fargo & Company dropped their price target on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a report on Thursday. Citigroup cut their price target on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Finally, Bank of America lowered their price objective on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating on the stock in a research report on Thursday. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus target price of $170.06.

Johnson & Johnson Stock Up 1.1 %

Shares of JNJ traded up $1.54 during trading hours on Thursday, reaching $146.81. The stock had a trading volume of 3,294,219 shares, compared to its average volume of 8,967,120. The company has a market capitalization of $353.47 billion, a price-to-earnings ratio of 21.25, a P/E/G ratio of 2.52 and a beta of 0.51. The firm has a 50-day simple moving average of $148.10 and a 200 day simple moving average of $156.05. 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 12 month low of $140.68 and a 12 month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.99 by $0.05. The firm had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22,438,500 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.29 earnings per share. Equities research analysts predict that Johnson & Johnson will post 9.95 earnings per share for the current fiscal year.

Insider Activity

In other Johnson & Johnson news, Director Mark A. Weinberger purchased 1,000 shares of the stock in a transaction on Thursday, December 12th. The shares were purchased at an average price of $147.22 per share, with a total value of $147,220.00. Following the acquisition, the director now directly owns 1,000 shares in the company, valued at approximately $147,220. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Johnson & Johnson

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fred Alger Management LLC raised its position in Johnson & Johnson by 6.1% in the 2nd quarter. Fred Alger Management LLC now owns 42,968 shares of the company’s stock worth $6,280,000 after purchasing an additional 2,488 shares during the period. AQR Capital Management LLC increased its stake in shares of Johnson & Johnson by 38.6% in the second quarter. AQR Capital Management LLC now owns 3,350,292 shares of the company’s stock worth $489,176,000 after buying an additional 932,477 shares during the period. Ameriprise Financial Inc. raised its holdings in Johnson & Johnson by 5.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock valued at $2,100,427,000 after buying an additional 754,200 shares during the last quarter. Drucker Wealth 3.0 LLC bought a new stake in Johnson & Johnson in the 2nd quarter worth $612,000. Finally, Daymark Wealth Partners LLC increased its position in shares of Johnson & Johnson by 2.0% in the second quarter. Daymark Wealth Partners LLC now owns 304,204 shares of the company’s stock valued at $44,462,000 after acquiring an additional 6,033 shares during the period. 69.55% of the stock is 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.