The Goldman Sachs Group Begins Coverage on Johnson & Johnson (NYSE:JNJ)

The Goldman Sachs Group started coverage on shares of Johnson & Johnson (NYSE:JNJFree Report) in a report released on Thursday morning, StockNewsAPI reports. The firm issued a neutral rating and a $160.00 price objective on the stock.

Several other research firms have also recently issued reports on JNJ. Morgan Stanley decreased their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an equal weight rating for the company in a research note on Wednesday, April 17th. Royal Bank of Canada reiterated an outperform rating and issued a $175.00 target price on shares of Johnson & Johnson in a research note on Wednesday, May 22nd. Bank of America decreased their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a neutral rating for the company in a research note on Wednesday, April 17th. Cantor Fitzgerald reissued an overweight rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Monday, May 6th. Finally, HSBC raised shares of 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 report on Thursday, April 18th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $174.07.

View Our Latest Analysis on JNJ

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $146.67 on Thursday. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The company has a 50 day simple moving average of $150.28 and a two-hundred day simple moving average of $155.02. The stock has a market cap of $352.99 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 2.44 and a beta of 0.55.

Johnson & Johnson (NYSE:JNJGet Free Report) last posted its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The firm 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 posted $2.68 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. As a group, analysts predict that Johnson & Johnson will post 10.64 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be issued a dividend of $1.24 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.38%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Institutional Investors Weigh In On Johnson & Johnson

A number of large investors have recently modified their holdings of JNJ. Norges Bank purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $4,071,642,000. Wellington Management Group LLP grew its holdings in shares of Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after purchasing an additional 3,391,657 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Johnson & Johnson by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after purchasing an additional 3,139,499 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Johnson & Johnson by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock valued at $2,483,532,000 after purchasing an additional 241,799 shares during the period. Finally, California Public Employees Retirement System grew its holdings in shares of Johnson & Johnson by 4.9% in the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock valued at $1,664,620,000 after purchasing an additional 498,647 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Company Profile

(Get Free Report)

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.

Featured Articles

Analyst Recommendations for Johnson & Johnson (NYSE:JNJ)

Receive News & Ratings for Johnson & Johnson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Johnson & Johnson and related companies with MarketBeat.com's FREE daily email newsletter.