Johnson & Johnson (NYSE:JNJ) Cut to Buy at StockNews.com

StockNews.com cut shares of Johnson & Johnson (NYSE:JNJ) from a strong-buy rating to a buy rating in a research note published on Saturday morning.

JNJ has been the subject of a number of other research reports. Cantor Fitzgerald reiterated an overweight rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Thursday, June 20th. The Goldman Sachs Group initiated coverage on shares of Johnson & Johnson in a research report on Thursday, May 30th. They set a neutral rating and a $160.00 price objective on the stock. HSBC raised shares of Johnson & Johnson from a hold rating to a buy rating and upped their target price for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Bank of America dropped their price target on Johnson & Johnson from $180.00 to $170.00 and set a neutral rating on the stock in a research report on Wednesday, April 17th. Finally, Morgan Stanley reduced their price objective on Johnson & Johnson from $168.00 to $167.00 and set an equal weight rating for the company in a research note on Wednesday, April 17th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $174.07.

Johnson & Johnson Stock Up 0.2 %

Johnson & Johnson stock opened at $149.10 on Friday. The stock’s fifty day moving average is $148.08 and its two-hundred day moving average is $154.29. The stock has a market cap of $358.84 billion, a PE ratio of 9.30, a P/E/G ratio of 2.46 and a beta of 0.53. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $21.39 billion. During the same quarter in the prior year, the firm posted $2.68 earnings per share. Johnson & Johnson’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts expect that Johnson & Johnson will post 10.63 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were paid a $1.24 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Hedge Funds Weigh In On Johnson & Johnson

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 4J Wealth Management LLC lifted its position in shares of Johnson & Johnson by 2.2% in the fourth quarter. 4J Wealth Management LLC now owns 2,835 shares of the company’s stock valued at $444,000 after acquiring an additional 62 shares in the last quarter. My Personal CFO LLC boosted its holdings in shares of Johnson & Johnson by 1.4% during the fourth quarter. My Personal CFO LLC now owns 4,550 shares of the company’s stock worth $713,000 after purchasing an additional 62 shares during the last quarter. Eagle Strategies LLC boosted its stake in Johnson & Johnson by 1.8% in the 4th quarter. Eagle Strategies LLC now owns 3,589 shares of the company’s stock worth $563,000 after buying an additional 63 shares during the last quarter. Clearview Wealth Advisors LLC grew its holdings in Johnson & Johnson by 1.5% in the 4th quarter. Clearview Wealth Advisors LLC now owns 4,373 shares of the company’s stock valued at $685,000 after buying an additional 64 shares during the period. Finally, Brookmont Capital Management boosted its position in shares of Johnson & Johnson by 0.4% in the fourth quarter. Brookmont Capital Management now owns 14,852 shares of the company’s stock worth $2,328,000 after acquiring an additional 64 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Company Profile

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.