Royal Bank of Canada Cuts Johnson & Johnson (NYSE:JNJ) Price Target to $175.00

Johnson & Johnson (NYSE:JNJ) had its price target lowered by Royal Bank of Canada from $181.00 to $175.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

JNJ has been the subject of a number of other reports. Cantor Fitzgerald reiterated an overweight rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, April 15th. StockNews.com raised shares of Johnson & Johnson from a buy rating to a strong-buy rating in a research note on Tuesday, February 6th. Morgan Stanley lowered their target price on shares of Johnson & Johnson from $170.00 to $169.00 and set an equal weight rating on the stock in a research note on Wednesday, January 24th. Finally, Raymond James increased their price target on Johnson & Johnson from $172.00 to $175.00 and gave the stock an outperform rating in a research note on Wednesday, January 3rd. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $175.86.

Johnson & Johnson Trading Up 1.5 %

Johnson & Johnson stock opened at $147.93 on Wednesday. The business has a 50-day simple moving average of $156.15 and a two-hundred day simple moving average of $155.63. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. The company has a market cap of $356.48 billion, a P/E ratio of 9.22, a P/E/G ratio of 2.40 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. The business had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.68 earnings per share. Analysts predict that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.35%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is currently 29.68%.

Insiders Place Their Bets

In other news, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the sale, the insider now owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 59,397 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $156.27, for a total value of $9,281,969.19. Following the sale, the executive vice president now owns 141,416 shares in the company, valued at $22,099,078.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the transaction, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Johnson & Johnson

Large investors have recently added to or reduced their stakes in the stock. Maryland State Retirement & Pension System boosted its holdings in shares of Johnson & Johnson by 0.6% in the first quarter. Maryland State Retirement & Pension System now owns 188,638 shares of the company’s stock valued at $27,204,000 after purchasing an additional 1,204 shares during the period. Cohen Investment Advisors LLC lifted its holdings in shares of Johnson & Johnson by 10.0% in the 1st quarter. Cohen Investment Advisors LLC now owns 19,483 shares of the company’s stock worth $3,082,000 after buying an additional 1,773 shares during the period. Kesler Norman & Wride LLC increased its stake in shares of Johnson & Johnson by 6.3% during the first quarter. Kesler Norman & Wride LLC now owns 48,533 shares of the company’s stock valued at $7,678,000 after buying an additional 2,864 shares during the period. FORVIS Wealth Advisors LLC raised its holdings in shares of Johnson & Johnson by 28.7% in the first quarter. FORVIS Wealth Advisors LLC now owns 55,050 shares of the company’s stock valued at $8,708,000 after acquiring an additional 12,286 shares in the last quarter. Finally, GenTrust LLC bought a new position in Johnson & Johnson during the 1st quarter worth about $230,000. 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.