Johnson & Johnson (NYSE:JNJ) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Johnson & Johnson (NYSE:JNJ) in a research note issued to investors on Monday morning, Benzinga reports. They currently have a $215.00 target price on the stock.

JNJ has been the topic of a number of other research reports. HSBC upgraded Johnson & Johnson from a hold rating to a buy rating and lifted their target price for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Bank of America reduced their price objective on Johnson & Johnson from $180.00 to $170.00 and set a neutral rating for the company in a research note on Wednesday, April 17th. Royal Bank of Canada restated an outperform rating and set a $175.00 target price on shares of Johnson & Johnson in a research report on Monday, June 17th. The Goldman Sachs Group started coverage on shares of Johnson & Johnson in a research report on Thursday, May 30th. They issued a neutral rating and a $160.00 price target for the company. Finally, StockNews.com raised shares of Johnson & Johnson from a buy rating to a strong-buy rating in a research report on Sunday, June 30th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $174.07.

Johnson & Johnson Trading Down 0.2 %

NYSE:JNJ opened at $145.69 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97. The stock has a market cap of $350.63 billion, a P/E ratio of 9.08, a P/E/G ratio of 2.43 and a beta of 0.52. The stock has a 50-day simple moving average of $147.96 and a 200-day simple moving average of $153.85.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 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 company had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. During the same period in the prior year, the firm posted $2.68 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. As a group, analysts anticipate that Johnson & Johnson will post 10.62 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were issued a $1.24 dividend. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

Institutional Investors Weigh In On Johnson & Johnson

Several institutional investors have recently made changes to their positions in JNJ. Alerus Financial NA increased its position in shares of Johnson & Johnson by 1.7% in the third quarter. Alerus Financial NA now owns 4,299 shares of the company’s stock valued at $670,000 after buying an additional 71 shares in the last quarter. Elevatus Welath Management lifted its stake in Johnson & Johnson by 29.1% in the 3rd quarter. Elevatus Welath Management now owns 1,802 shares of the company’s stock valued at $281,000 after buying an additional 406 shares in the last quarter. Legacy Advisors LLC grew its holdings in Johnson & Johnson by 6.3% during the 3rd quarter. Legacy Advisors LLC now owns 72,571 shares of the company’s stock valued at $11,303,000 after buying an additional 4,279 shares during the last quarter. Lakeshore Financial Planning Inc. purchased a new position in Johnson & Johnson during the third quarter worth $460,000. Finally, KPP Advisory Services LLC acquired a new position in shares of Johnson & Johnson in the third quarter worth $1,828,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

About Johnson & Johnson

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.