Bank of America Forecasts Strong Price Appreciation for Johnson & Johnson (NYSE:JNJ) Stock

Key Points

• Bank of America has raised its price target for Johnson & Johnson's stock from $175.00 to $198.00, indicating a potential upside of 5.82% from its current price.
• Other analysts have also increased their targets and ratings for Johnson & Johnson, with Goldman Sachs and Guggenheim giving it a "buy" rating, reflecting a consensus average target price of $187.47.
• Johnson & Johnson reported strong earnings, with an EPS of $2.77, surpassing expectations, and a revenue of $23.74 billion, marking a year-over-year increase of 5.8%.

Johnson & Johnson (NYSE:JNJ - Get Free Report) had its price target increased by equities researchers at Bank of America from $175.00 to $198.00 in a report released on Friday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Bank of America's price target would suggest a potential upside of 5.82% from the stock's current price.

A number of other equities research analysts have also weighed in on JNJ. The Goldman Sachs Group boosted their price objective on shares of Johnson & Johnson from $185.00 to $186.00 and gave the company a "buy" rating in a report on Friday, September 19th. Erste Group Bank raised Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada lifted their target price on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Guggenheim upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and increased their price target for the stock from $167.00 to $206.00 in a report on Tuesday, September 23rd. Finally, Barclays lifted their price objective on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $187.47.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $187.11 on Friday. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $187.29. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The firm has a market capitalization of $450.62 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 2.37 and a beta of 0.40. The stock's 50-day simple moving average is $175.78 and its 200-day simple moving average is $162.66.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. The company had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. Johnson & Johnson's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the business earned $2.82 EPS. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. As a group, equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the sale, the executive vice president directly owned 178,013 shares of the company's stock, valued at $31,652,491.53. This represents a 24.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.16% of the company's stock.

Hedge Funds Weigh In On Johnson & Johnson

A number of hedge funds have recently bought and sold shares of the business. Shorepoint Capital Partners LLC purchased a new stake in shares of Johnson & Johnson in the third quarter valued at approximately $6,434,000. St. Louis Financial Planners Asset Management LLC acquired a new position in Johnson & Johnson during the third quarter worth $3,072,000. GAMMA Investing LLC lifted its holdings in Johnson & Johnson by 10.4% during the third quarter. GAMMA Investing LLC now owns 54,509 shares of the company's stock valued at $10,107,000 after purchasing an additional 5,142 shares in the last quarter. First Hawaiian Bank increased its stake in shares of Johnson & Johnson by 26.5% during the third quarter. First Hawaiian Bank now owns 1,879 shares of the company's stock worth $348,000 after purchasing an additional 394 shares in the last quarter. Finally, Capital Asset Advisory Services LLC raised its position in shares of Johnson & Johnson by 5.1% during the 3rd quarter. Capital Asset Advisory Services LLC now owns 27,635 shares of the company's stock worth $5,124,000 after purchasing an additional 1,335 shares during the last quarter. Hedge funds and other institutional investors 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.

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