Johnson & Johnson (NYSE:JNJ) Earns “Overweight” Rating from Cantor Fitzgerald

Johnson & Johnson (NYSE:JNJ)‘s stock had its “overweight” rating reaffirmed by equities researchers at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They currently have a $215.00 price objective on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 33.42% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research note on Tuesday, July 30th. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Morgan Stanley upped their price objective on Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 30th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Price Performance

Shares of JNJ stock traded down $3.00 during mid-day trading on Monday, hitting $161.14. 8,379,537 shares of the stock were exchanged, compared to its average volume of 7,371,128. The company has a market cap of $387.90 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 2.63 and a beta of 0.52. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average of $149.73 and a 200 day moving average of $153.09.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. During the same period in the previous year, the business earned $2.80 earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year. Research analysts anticipate that Johnson & Johnson will post 10.07 earnings per share for the current year.

Hedge Funds Weigh In On Johnson & Johnson

Several large investors have recently added to or reduced their stakes in JNJ. Norges Bank purchased a new stake in shares of Johnson & Johnson during the 4th quarter worth about $4,071,642,000. Wellington Management Group LLP raised its holdings in shares of Johnson & Johnson by 16.4% during the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after purchasing an additional 3,391,657 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Johnson & Johnson by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after acquiring an additional 3,139,499 shares during the last quarter. Ninety One UK Ltd increased its stake in shares of Johnson & Johnson by 59.0% in the second quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after purchasing an additional 2,489,925 shares during the period. Finally, Swedbank AB acquired a new stake in shares of Johnson & Johnson in the first quarter worth $331,178,000. 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.