Johnson & Johnson (JNJ) Upgraded by Vetr Inc. to Buy
Vetr upgraded shares of Johnson & Johnson (NYSE:JNJ) from a hold rating to a buy rating in a report published on Tuesday. The brokerage currently has $117.64 price target on the stock.
A number of other brokerages have also recently issued reports on JNJ. Zacks Investment Research cut shares of Johnson & Johnson from a buy rating to a hold rating in a research note on Thursday, August 4th. Jefferies Group lifted their price objective on shares of Johnson & Johnson from $113.00 to $119.00 and gave the company a hold rating in a research note on Thursday, August 4th. Deutsche Bank AG reissued a buy rating and issued a $142.00 price objective on shares of Johnson & Johnson in a research note on Friday, August 19th. BTIG Research reissued a neutral rating on shares of Johnson & Johnson in a research note on Wednesday, September 7th. Finally, Leerink Swann reissued a buy rating on shares of Johnson & Johnson in a research note on Sunday, September 11th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $121.03.
Johnson & Johnson (NYSE:JNJ) opened at 112.48 on Tuesday. The stock has a 50 day moving average price of $115.85 and a 200-day moving average price of $118.43. The firm has a market cap of $306.01 billion, a P/E ratio of 19.74 and a beta of 0.75. Johnson & Johnson has a 1-year low of $94.28 and a 1-year high of $126.07.
Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, October 18th. The company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The business had revenue of $17.80 billion for the quarter, compared to analysts’ expectations of $17.71 billion. Johnson & Johnson had a net margin of 22.03% and a return on equity of 25.30%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $1.49 earnings per share. Equities research analysts forecast that Johnson & Johnson will post $6.72 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Tuesday, November 22nd will be given a dividend of $0.80 per share. The ex-dividend date is Friday, November 18th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $0.29. This represents a $3.20 annualized dividend and a dividend yield of 2.84%. Johnson & Johnson’s payout ratio is presently 56.64%.
In other Johnson & Johnson news, Director Charles Prince bought 875 shares of the firm’s stock in a transaction dated Friday, October 21st. The stock was bought at an average cost of $114.11 per share, with a total value of $99,846.25. Following the completion of the transaction, the director now directly owns 26,520 shares in the company, valued at approximately $3,026,197.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.11% of the company’s stock.
Large investors have recently bought and sold shares of the company. Canandaigua National Bank & Trust Co. increased its stake in Johnson & Johnson by 0.3% in the first quarter. Canandaigua National Bank & Trust Co. now owns 97,516 shares of the company’s stock valued at $10,551,000 after buying an additional 291 shares during the last quarter. Royal Bank of Scotland Group PLC increased its stake in Johnson & Johnson by 1.7% in the first quarter. Royal Bank of Scotland Group PLC now owns 10,950 shares of the company’s stock valued at $1,184,000 after buying an additional 182 shares during the last quarter. USS Investment Management Ltd increased its stake in Johnson & Johnson by 38.9% in the first quarter. USS Investment Management Ltd now owns 211,814 shares of the company’s stock valued at $22,913,000 after buying an additional 59,314 shares during the last quarter. Shufro Rose & Co. LLC increased its stake in Johnson & Johnson by 22.8% in the first quarter. Shufro Rose & Co. LLC now owns 50,889 shares of the company’s stock valued at $5,506,000 after buying an additional 9,440 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in Johnson & Johnson by 77.1% in the first quarter. Bessemer Group Inc. now owns 748,552 shares of the company’s stock valued at $80,994,000 after buying an additional 325,913 shares during the last quarter. 64.13% of the stock is owned by institutional investors.
About Johnson & Johnson
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. The Company’s segments include Consumer, Pharmaceutical and Medical Devices. The Consumer segment includes a range of products used in the baby care, oral care, skin care, over-the-counter pharmaceutical, women’s health and wound care markets.
To view Vetr’s full report, visit Vetr’s official website.
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