Johnson & Johnson (NYSE:JNJ) Price Target Raised to $244.00

Johnson & Johnson (NYSE:JNJ) had its target price hoisted by equities research analysts at Guggenheim from $240.00 to $244.00 in a research note issued on Tuesday,MarketScreener reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price target would indicate a potential upside of 3.06% from the company’s previous close.

JNJ has been the subject of several other research reports. The Goldman Sachs Group reissued a “buy” rating and set a $250.00 price target on shares of Johnson & Johnson in a research report on Thursday, January 22nd. UBS Group restated a “buy” rating on shares of Johnson & Johnson in a report on Monday, January 5th. JPMorgan Chase & Co. lifted their price objective on Johnson & Johnson from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Rothschild & Co Redburn raised their price target on Johnson & Johnson from $180.00 to $210.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. Finally, HSBC lifted their price target on shares of Johnson & Johnson from $265.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $237.57.

Johnson & Johnson Price Performance

JNJ opened at $236.74 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 0.77 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $570.22 billion, a P/E ratio of 21.46, a PEG ratio of 2.41 and a beta of 0.34. The stock has a 50-day moving average price of $240.25 and a 200-day moving average price of $213.73. Johnson & Johnson has a 12-month low of $141.50 and a 12-month high of $251.71.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Saturday, January 31st. The company reported $2.46 earnings per share for the quarter. The company had revenue of $24.28 billion during the quarter. Johnson & Johnson had a return on equity of 33.04% and a net margin of 28.46%. Equities analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Timothy Schmid sold 22,623 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $244.33, for a total value of $5,527,477.59. Following the sale, the executive vice president directly owned 26,769 shares of the company’s stock, valued at approximately $6,540,469.77. The trade was a 45.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Vanessa Broadhurst sold 6,197 shares of Johnson & Johnson stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $243.39, for a total value of $1,508,287.83. Following the completion of the transaction, the executive vice president directly owned 23,003 shares of the company’s stock, valued at approximately $5,598,700.17. This represents a 21.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,142 shares of company stock valued at $7,360,528 in the last quarter. 0.16% of the stock is owned by company insiders.

Institutional Trading of Johnson & Johnson

A number of institutional investors and hedge funds have recently modified their holdings of JNJ. Blueline Advisors LLC bought a new stake in Johnson & Johnson in the 4th quarter worth about $25,000. Cresta Advisors Ltd. purchased a new stake in shares of Johnson & Johnson during the 4th quarter valued at about $26,000. Abich Financial Wealth Management LLC bought a new stake in shares of Johnson & Johnson in the third quarter worth approximately $26,000. DecisionPoint Financial LLC raised its holdings in shares of Johnson & Johnson by 104.2% during the fourth quarter. DecisionPoint Financial LLC now owns 147 shares of the company’s stock valued at $30,000 after purchasing an additional 75 shares during the last quarter. Finally, Bay Harbor Wealth Management LLC boosted its holdings in Johnson & Johnson by 49.0% in the fourth quarter. Bay Harbor Wealth Management LLC now owns 149 shares of the company’s stock worth $31,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Company Profile

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.