Johnson & Johnson (NYSE:JNJ) Earns “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Johnson & Johnson (NYSE:JNJFree Report) in a report released on Monday, Benzinga reports. The brokerage currently has a $175.00 price target on the stock.

JNJ has been the subject of several other reports. Bank of America cut their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a neutral rating for the company in a research report on Wednesday, April 17th. The Goldman Sachs Group started coverage on Johnson & Johnson in a research note on Thursday, May 30th. They issued a neutral rating and a $160.00 target price on the stock. HSBC upgraded shares of Johnson & Johnson from a hold rating to a buy rating and upped their price objective for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Cantor Fitzgerald reissued an overweight rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, May 6th. Finally, cut Johnson & Johnson from a strong-buy rating to a buy rating in a research note on Monday, June 10th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Johnson & Johnson currently has a consensus rating of Hold and an average price target of $174.07.

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Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $145.65 on Monday. The firm has a market capitalization of $350.53 billion, a P/E ratio of 9.08, a P/E/G ratio of 2.43 and a beta of 0.53. The firm’s 50-day moving average price is $148.04 and its 200-day moving average price is $154.49. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97.

Johnson & Johnson (NYSE:JNJGet Free Report) last released its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The company had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. During the same period last year, the firm earned $2.68 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Equities research analysts anticipate that Johnson & Johnson will post 10.63 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.41%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, May 20th. Johnson & Johnson’s dividend payout ratio is 30.92%.

Institutional Trading of Johnson & Johnson

Several institutional investors and hedge funds have recently bought and sold shares of JNJ. Christopher J. Hasenberg Inc purchased a new stake in shares of Johnson & Johnson in the 1st quarter valued at approximately $31,000. Keener Financial Planning LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter worth $40,000. WFA Asset Management Corp grew its stake in Johnson & Johnson by 61.4% in the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Johnson & Johnson in the 4th quarter worth about $44,000. Finally, Disciplined Equity Management Inc. acquired a new stake in shares of Johnson & Johnson during the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

About Johnson & Johnson

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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.

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Analyst Recommendations for Johnson & Johnson (NYSE:JNJ)

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