Wells Fargo & Company Cuts Johnson & Johnson (NYSE:JNJ) Price Target to $152.00

Johnson & Johnson (NYSE:JNJ) had its price target cut by stock analysts at Wells Fargo & Company from $166.00 to $152.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 4.12% from the company’s current price.

JNJ has been the subject of a number of other reports. Bank of America lowered their target price on Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating for the company in a report on Thursday. Wolfe Research began coverage on Johnson & Johnson in a report on Friday, November 15th. They set an “outperform” rating and a $190.00 target price for the company. Morgan Stanley raised their target price on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Friday, January 17th. Finally, Barclays decreased their price objective on Johnson & Johnson from $160.00 to $159.00 and set an “equal weight” rating for the company in a research note on Tuesday. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average target price of $171.81.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $145.98 on Thursday. The stock has a market cap of $351.47 billion, a PE ratio of 21.12, a P/E/G ratio of 2.52 and a beta of 0.51. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $168.85. The stock has a fifty day simple moving average of $148.10 and a 200-day simple moving average of $156.05.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. The business had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22,438,500 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.29 EPS. Equities analysts anticipate that Johnson & Johnson will post 9.95 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Mark A. Weinberger purchased 1,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $147.22 per share, with a total value of $147,220.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $147,220. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC lifted its holdings in shares of Johnson & Johnson by 20,130.0% during the third quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock worth $559,832,000 after purchasing an additional 3,437,397 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Johnson & Johnson by 228.1% during the third quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company’s stock worth $549,223,000 after purchasing an additional 2,356,359 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Johnson & Johnson by 11.4% during the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock worth $2,721,355,000 after purchasing an additional 1,729,281 shares during the period. Holocene Advisors LP acquired a new stake in Johnson & Johnson in the third quarter valued at $225,040,000. Finally, FMR LLC lifted its holdings in Johnson & Johnson by 7.4% in the third quarter. FMR LLC now owns 18,316,920 shares of the company’s stock valued at $2,968,440,000 after acquiring an additional 1,265,748 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.