Bank of America Cuts Johnson & Johnson (NYSE:JNJ) Price Target to $160.00

Johnson & Johnson (NYSE:JNJ) had its price target lowered by Bank of America from $166.00 to $160.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other analysts have also recently issued reports on the stock. 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. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, October 16th. StockNews.com cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Friday. Citigroup dropped their price target on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company raised their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus target price of $174.29.

Johnson & Johnson Stock Down 0.5 %

Shares of JNJ opened at $147.03 on Friday. The business’s 50 day simple moving average is $148.51 and its 200-day simple moving average is $156.03. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $168.85. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The stock has a market capitalization of $353.99 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 2.30 and a beta of 0.51.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.37%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, Director Mark A. Weinberger purchased 1,000 shares of the stock in a transaction on Thursday, December 12th. The stock was acquired at an average price of $147.22 per share, with a total value of $147,220.00. Following the completion of the acquisition, the director now owns 1,000 shares in the company, valued at $147,220. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is owned by insiders.

Hedge Funds Weigh In On Johnson & Johnson

Hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC raised its stake in shares of Johnson & Johnson by 20,130.0% in the third quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock worth $559,832,000 after purchasing an additional 3,437,397 shares during the last quarter. Marshall Wace LLP increased its holdings in Johnson & Johnson by 506.9% in the 2nd quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock worth $567,826,000 after buying an additional 3,244,862 shares during the period. Janus Henderson Group PLC lifted its stake in Johnson & Johnson by 228.1% during the 3rd quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company’s stock valued at $549,223,000 after acquiring an additional 2,356,359 shares during the period. Franklin Resources Inc. increased its stake in shares of Johnson & Johnson by 11.4% in the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock worth $2,721,355,000 after acquiring an additional 1,729,281 shares during the period. Finally, Holocene Advisors LP purchased a new position in shares of Johnson & Johnson during the third quarter worth $225,040,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

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.