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.”
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.
COPYRIGHT VIOLATION NOTICE: This piece was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this piece can be read at https://www.dispatchtribunal.com/2018/04/15/johnson-johnson-jnj-stock-rating-upgraded-by-zacks-investment-research.html.
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.
Get a free copy of the Zacks research report on Johnson & Johnson (JNJ)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.