Johnson & Johnson (NYSE:JNJ) Upgraded by StockNews.com to Strong-Buy

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

Several other analysts have also recently commented on the company. Morgan Stanley dropped their price target on Johnson & Johnson from $168.00 to $167.00 and set an equal weight rating for the company in a research report on Wednesday, April 17th. Bank of America dropped their price target on Johnson & Johnson from $180.00 to $170.00 and set a neutral rating for the company in a research report on Wednesday, April 17th. HSBC upgraded Johnson & Johnson from a hold rating to a buy rating and boosted their price target for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Cantor Fitzgerald reissued an overweight rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Thursday, June 20th. Finally, The Goldman Sachs Group assumed coverage on Johnson & Johnson in a research note on Thursday, May 30th. They set a neutral rating and a $160.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of Moderate Buy and an average price target of $174.07.

Johnson & Johnson Stock Up 0.2 %

Johnson & Johnson stock opened at $146.16 on Friday. The stock has a market capitalization of $351.76 billion, a PE ratio of 9.11, a price-to-earnings-growth ratio of 2.43 and a beta of 0.53. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The business has a 50 day simple moving average of $148.14 and a 200-day simple moving average of $154.05. 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 posted its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The business had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. During the same period in the previous year, the business earned $2.68 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. On average, analysts anticipate that Johnson & Johnson will post 10.62 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.39%. The ex-dividend date was Monday, May 20th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio is 30.92%.

Hedge Funds Weigh In On Johnson & Johnson

Several hedge funds have recently bought and sold shares of JNJ. Christopher J. Hasenberg Inc acquired a new position in Johnson & Johnson during the 1st quarter worth about $31,000. Keener Financial Planning LLC acquired a new position in Johnson & Johnson during the 4th quarter worth about $40,000. WFA Asset Management Corp lifted its stake in 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 acquiring an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Johnson & Johnson during the 4th quarter worth about $44,000. Finally, Disciplined Equity Management Inc. acquired a new position in Johnson & Johnson during the 4th quarter worth about $45,000. 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.