Johnson & Johnson (NYSE:JNJ) Given New $240.00 Price Target at Wolfe Research

by · The Markets Daily

Johnson & Johnson (NYSE:JNJ – Get Free Report) had its price objective lifted by research analysts at Wolfe Research from $225.00 to $240.00 in a report issued on Monday,MarketScreener reports. The firm presently has an “outperform” rating on the stock. Wolfe Research’s price target would indicate a potential upside of 17.32% from the company’s current price.

A number of other research firms also recently issued reports on JNJ. UBS Group increased their price target on Johnson & Johnson from $190.00 to $214.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Cowen reissued a “buy” rating on shares of Johnson & Johnson in a research report on Tuesday, October 14th. Johnson Rice set a $190.00 price target on shares of Johnson & Johnson and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Daiwa America raised shares of Johnson & Johnson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Finally, Wall Street Zen upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.62.

Read Our Latest Research Report on JNJ

Johnson & Johnson Trading Down 1.3%

JNJ stock opened at $204.56 on Monday. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $215.18. The firm’s 50-day moving average is $201.17 and its 200 day moving average is $183.07. The company has a market capitalization of $492.86 billion, a PE ratio of 19.81, a P/E/G ratio of 2.13 and a beta of 0.34. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last issued its earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. The business had revenue of $24.02 billion for the quarter. On average, research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Institutional Investors Weigh In On Johnson & Johnson

A number of large investors have recently modified their holdings of JNJ. Abich Financial Wealth Management LLC acquired a new position in shares of Johnson & Johnson in the 3rd quarter valued at $26,000. Evolution Wealth Management Inc. purchased a new position in shares of Johnson & Johnson in the second quarter worth about $27,000. Clayton Financial Group LLC acquired a new stake in shares of Johnson & Johnson during the third quarter worth about $28,000. Semmax Financial Advisors Inc. boosted its position in Johnson & Johnson by 55.0% in the second quarter. Semmax Financial Advisors Inc. now owns 203 shares of the company’s stock valued at $31,000 after buying an additional 72 shares during the last quarter. Finally, GFG Capital LLC acquired a new position in Johnson & Johnson in the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Company Profile

(Get Free Report)

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.

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