Daiwa Capital Markets Initiates Coverage on Johnson & Johnson (NYSE:JNJ)

Stock analysts at Daiwa Capital Markets assumed coverage on shares of Johnson & Johnson (NYSE:JNJGet Rating) in a report released on Wednesday, The Fly reports. The firm set an “outperform” rating on the stock.

Several other equities analysts have also recently weighed in on the company. Sanford C. Bernstein cut Johnson & Johnson from an “outperform” rating to a “market perform” rating and raised their price target for the company from $180.00 to $183.00 in a report on Wednesday, March 16th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 17th. Credit Suisse Group raised their price target on Johnson & Johnson from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, April 20th. Bank of America initiated coverage on Johnson & Johnson in a report on Wednesday, March 2nd. They issued a “neutral” rating for the company. Finally, Morgan Stanley dropped their target price on Johnson & Johnson from $175.00 to $173.00 and set an “equal weight” rating for the company in a report on Wednesday, April 6th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $190.50.

Shares of JNJ opened at $179.66 on Wednesday. The business’s 50 day moving average is $177.65 and its 200 day moving average is $173.20. The company has a market capitalization of $472.76 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 3.42 and a beta of 0.66. Johnson & Johnson has a 12-month low of $155.72 and a 12-month high of $186.69. The company has a current ratio of 1.39, a quick ratio of 1.14 and a debt-to-equity ratio of 0.39.

Johnson & Johnson (NYSE:JNJGet Rating) last issued its earnings results on Tuesday, April 19th. The company reported $2.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.60 by $0.07. The company had revenue of $23.43 billion for the quarter, compared to the consensus estimate of $23.62 billion. Johnson & Johnson had a return on equity of 36.59% and a net margin of 20.90%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company earned $2.59 EPS. Equities research analysts predict that Johnson & Johnson will post 10.23 earnings per share for the current year.

In other Johnson & Johnson news, insider William Hait sold 29,699 shares of Johnson & Johnson stock in a transaction on Thursday, April 21st. The stock was sold at an average price of $183.58, for a total transaction of $5,452,142.42. Following the completion of the sale, the insider now directly owns 80,236 shares of the company’s stock, valued at approximately $14,729,724.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kathryn E. Wengel sold 40,000 shares of Johnson & Johnson stock in a transaction on Friday, June 10th. The shares were sold at an average price of $173.00, for a total value of $6,920,000.00. Following the sale, the executive vice president now directly owns 71,311 shares of the company’s stock, valued at $12,336,803. The disclosure for this sale can be found here. Insiders have sold a total of 78,161 shares of company stock valued at $13,895,302 over the last three months. 0.35% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of JNJ. Norges Bank bought a new position in shares of Johnson & Johnson in the 4th quarter worth $4,172,929,000. BlackRock Inc. raised its position in shares of Johnson & Johnson by 2.6% in the 4th quarter. BlackRock Inc. now owns 200,021,352 shares of the company’s stock worth $34,217,654,000 after acquiring an additional 4,982,885 shares in the last quarter. GQG Partners LLC raised its position in shares of Johnson & Johnson by 1,109.4% in the 4th quarter. GQG Partners LLC now owns 3,954,383 shares of the company’s stock worth $676,375,000 after acquiring an additional 3,627,424 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Johnson & Johnson by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock worth $42,205,749,000 after acquiring an additional 3,358,478 shares in the last quarter. Finally, State Street Corp raised its position in shares of Johnson & Johnson by 1.8% in the 4th quarter. State Street Corp now owns 144,677,639 shares of the company’s stock worth $24,750,004,000 after acquiring an additional 2,492,359 shares in the last quarter. 68.78% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Company Profile (Get Rating)

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

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