Johnson & Johnson (JNJ) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Johnson & Johnson (NYSE:JNJ) from a hold rating to a buy rating in a research report report published on Wednesday morning. The firm currently has $145.00 target price on the stock.

According to Zacks, “J&J’s sales growth accelerated in the second half of 2017 backed by higher sales in the Pharmaceutical segment and improving performance in Medical Devices. Though quite a few key products in J&J’s portfolio like Remicade and Concerta are facing generic competition, we believe that new products in all segments, label expansion of drugs like Imbruvica and Darzalex and contribution from recent acquisitions – mainly Actelion – can support top-line growth.  Meanwhile, share buybacks and the restructuring initiative should provide bottom-line support. J&J is also making rapid progress with its pipeline and line extensions. J&J’s shares have outperformed the industry in the past six months. However, headwinds like generics, pricing pressure and soft global market conditions remain. Estimates have risen slightly ahead of Q1 results. J&J has a positive record of earnings surprises in the recent quarters.”

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JNJ has been the topic of several other research reports. Vetr downgraded shares of Johnson & Johnson from a hold rating to a sell rating and set a $124.55 target price on the stock. in a research note on Thursday, April 5th. JPMorgan Chase downgraded shares of Johnson & Johnson from an overweight rating to a neutral rating in a research report on Tuesday, January 2nd. BMO Capital Markets increased their price objective on shares of Johnson & Johnson to $161.00 and gave the company an outperform rating in a research report on Tuesday, December 12th. Jefferies Group set a $165.00 price objective on shares of Johnson & Johnson and gave the company a buy rating in a research report on Monday, February 26th. Finally, BTIG Research restated a sell rating and set a $110.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, January 24th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $144.03.

Shares of NYSE JNJ opened at $130.62 on Wednesday. The company has a market capitalization of $349,930.91, a PE ratio of 17.89, a PEG ratio of 2.07 and a beta of 0.74. Johnson & Johnson has a 52-week low of $120.95 and a 52-week high of $148.32. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.12 and a current ratio of 1.41.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, January 23rd. The company reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.02. The firm had revenue of $20.20 billion for the quarter, compared to the consensus estimate of $20.08 billion. Johnson & Johnson had a net margin of 1.70% and a return on equity of 29.00%. The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.58 earnings per share. research analysts anticipate that Johnson & Johnson will post 8.11 earnings per share for the current year.

In other Johnson & Johnson news, VP Paulus Stoffels sold 155,342 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $129.86, for a total transaction of $20,172,712.12. Following the completion of the sale, the vice president now directly owns 357,906 shares of the company’s stock, valued at $46,477,673.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.22% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Goodman Financial Corp purchased a new stake in shares of Johnson & Johnson in the fourth quarter worth $104,000. Stelac Advisory Services LLC purchased a new stake in shares of Johnson & Johnson in the fourth quarter worth $108,000. Harding Loevner LP purchased a new stake in shares of Johnson & Johnson in the second quarter worth $106,000. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Johnson & Johnson in the second quarter worth $124,000. Finally, Financial Gravity Companies Inc. purchased a new stake in shares of Johnson & Johnson in the fourth quarter worth $143,000. 67.24% of the stock is owned by institutional investors and hedge funds.

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About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. Its Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, RoC, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

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