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 report sent to investors on Friday.

Several other research analysts have also recently weighed in on JNJ. Bank of America restated a “neutral” rating and issued a $166.00 price objective on shares of Johnson & Johnson in a research report on Tuesday, December 10th. Royal Bank of Canada upped their price target on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Guggenheim lifted their price objective on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Morgan Stanley upped their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.29.

Johnson & Johnson Stock Down 0.5 %

Shares of NYSE:JNJ opened at $147.03 on Friday. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $168.85. The firm has a market cap of $353.99 billion, a P/E ratio of 21.28, a P/E/G ratio of 2.30 and a beta of 0.51. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The company’s 50-day moving average price is $148.51 and its two-hundred day moving average price is $156.03.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a yield of 3.37%. Johnson & Johnson’s payout ratio is 71.78%.

Insider Transactions at Johnson & Johnson

In related news, Director Mark A. Weinberger acquired 1,000 shares of the stock in a transaction dated Thursday, December 12th. The stock was bought at an average price of $147.22 per share, with a total value of $147,220.00. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $147,220. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Johnson & Johnson

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vinva Investment Management Ltd raised its holdings in shares of Johnson & Johnson by 6.8% in the third quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company’s stock valued at $17,988,000 after purchasing an additional 7,110 shares during the last quarter. Financial Counselors Inc. increased its stake in Johnson & Johnson by 5.3% in the 3rd quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock valued at $29,996,000 after buying an additional 9,309 shares during the last quarter. Meridian Investment Counsel Inc. lifted its position in Johnson & Johnson by 19.6% during the 3rd quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock worth $3,667,000 after buying an additional 3,710 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Johnson & Johnson by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock valued at $2,858,543,000 after acquiring an additional 102,502 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Johnson & Johnson in the third quarter valued at about $69,859,000. 69.55% of the stock is owned by institutional investors and hedge funds.

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.