Bank of America Issues Pessimistic Forecast for Johnson & Johnson (NYSE:JNJ) Stock Price

Johnson & Johnson (NYSE:JNJ) had its price target decreased by equities researchers at Bank of America from $166.00 to $160.00 in a report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s target price suggests a potential upside of 8.82% from the company’s current price.

JNJ has been the subject of a number of other research reports. Royal Bank of Canada lifted their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Morgan Stanley boosted their price target on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, Wolfe Research initiated coverage on Johnson & Johnson in a research report on Friday, November 15th. They issued an “outperform” rating and a $190.00 price target for the company. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.29.

Johnson & Johnson Price Performance

JNJ opened at $147.03 on Friday. The stock has a market cap of $353.99 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 2.30 and a beta of 0.51. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $168.85. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The stock has a fifty day moving average price of $148.51 and a 200 day moving average price of $155.96.

Insider Activity at Johnson & Johnson

In other news, Director Mark A. Weinberger purchased 1,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $147,220. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Johnson & Johnson

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFS Advisors LLC grew its stake in shares of Johnson & Johnson by 138.9% in the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the period. Highline Wealth Partners LLC bought a new stake in shares of Johnson & Johnson in the 3rd quarter valued at approximately $31,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Johnson & Johnson in the 3rd quarter valued at approximately $35,000. Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 91 shares during the period. Finally, Activest Wealth Management bought a new stake in shares of Johnson & Johnson in the 3rd quarter valued at approximately $40,000. 69.55% of the stock is currently owned by 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.