Johnson & Johnson (NYSE:JNJ) Price Target Cut to $185.00 by Analysts at TD Cowen

Johnson & Johnson (NYSE:JNJ) had its price objective trimmed by TD Cowen from $195.00 to $185.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also issued reports on JNJ. StockNews.com upgraded Johnson & Johnson from a buy rating to a strong-buy rating in a research report on Sunday, June 30th. HSBC upgraded shares of Johnson & Johnson from a hold rating to a buy rating and increased their target price for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Bank of America decreased their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a neutral rating for the company in a report on Wednesday, April 17th. Cantor Fitzgerald reiterated an overweight rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Monday, July 1st. Finally, Morgan Stanley increased their price target on Johnson & Johnson from $167.00 to $169.00 and gave the stock an equal weight rating in a report on Thursday. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $175.29.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $155.44 on Thursday. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97. The company’s 50-day moving average is $148.26 and its two-hundred day moving average is $153.40. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The company has a market cap of $374.09 billion, a PE ratio of 9.69, a PEG ratio of 2.76 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.79%. The firm had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. During the same quarter in the previous year, the business earned $2.80 EPS. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. Equities analysts anticipate that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be given a dividend of $1.24 per share. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.19%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Institutional Inflows and Outflows

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

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.