Wells Fargo & Company Reiterates Market Perform Rating for Johnson & Johnson (JNJ)

Johnson & Johnson (NYSE:JNJ)‘s stock had its “market perform” rating reiterated by research analysts at Wells Fargo & Company in a research report issued on Thursday. They presently have a $135.00 price objective on the stock, up from their prior price objective of $132.00. Wells Fargo & Company’s price target would indicate a potential upside of 1.86% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Vetr raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $132.33 price target on the stock in a research report on Thursday, May 18th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $128.00 price target (up previously from $124.00) on shares of Johnson & Johnson in a research report on Thursday, May 18th. BidaskClub raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Barclays PLC reaffirmed an “equal weight” rating and issued a $130.00 price target (up previously from $125.00) on shares of Johnson & Johnson in a research report on Monday, April 17th. Finally, J P Morgan Chase & Co raised shares of Johnson & Johnson from a “neutral” rating to an “overweight” rating and raised their price target for the company from $123.64 to $140.00 in a research report on Monday, May 15th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $132.69.

Shares of Johnson & Johnson (NYSE JNJ) opened at 132.54 on Thursday. The stock has a 50 day moving average price of $130.42 and a 200-day moving average price of $122.68. Johnson & Johnson has a one year low of $109.32 and a one year high of $137.00. The company has a market capitalization of $357.04 billion, a price-to-earnings ratio of 22.28 and a beta of 0.78.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, April 18th. The company reported $1.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.06. The company had revenue of $17.77 billion during the quarter, compared to the consensus estimate of $18.02 billion. Johnson & Johnson had a return on equity of 26.50% and a net margin of 22.87%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the business posted $1.68 EPS. On average, equities research analysts expect that Johnson & Johnson will post $7.10 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 13th. Stockholders of record on Tuesday, May 30th were given a dividend of $0.84 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Thursday, May 25th. Johnson & Johnson’s payout ratio is 56.47%.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Johnson & Johnson during the fourth quarter worth approximately $343,000. Twin Capital Management Inc. raised its position in Johnson & Johnson by 0.7% in the fourth quarter. Twin Capital Management Inc. now owns 246,330 shares of the company’s stock worth $28,380,000 after buying an additional 1,690 shares during the period. Cedar Hill Associates LLC increased its stake in Johnson & Johnson by 1.5% in the fourth quarter. Cedar Hill Associates LLC now owns 4,348 shares of the company’s stock worth $501,000 after buying an additional 64 shares in the last quarter. Highland Private Wealth Management increased its stake in Johnson & Johnson by 5.3% in the fourth quarter. Highland Private Wealth Management now owns 7,435 shares of the company’s stock worth $857,000 after buying an additional 371 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its stake in Johnson & Johnson by 24.2% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 651,026 shares of the company’s stock worth $75,005,000 after buying an additional 127,036 shares in the last quarter. Hedge funds and other institutional investors own 66.03% of the company’s stock.

About Johnson & Johnson

Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.

Analyst Recommendations for Johnson & Johnson (NYSE:JNJ)

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