Bank of America Increases Johnson & Johnson (NYSE:JNJ) Price Target to $204.00

Key Points

• Bank of America has increased its price target for Johnson & Johnson from $198 to $204, indicating a potential 6.87% upside from the stock's previous close.
• Other analysts have also raised their price targets, with UBS Group setting a new target of $214 and maintaining a "buy" rating.
• Currently, Johnson & Johnson's stock has a consensus rating of "Moderate Buy" and a price target average of $199.76, with significant institutional ownership at 69.55%.

Johnson & Johnson (NYSE:JNJ - Get Free Report) had its price target increased by stock analysts at Bank of America from $198.00 to $204.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Bank of America's price objective points to a potential upside of 6.87% from the stock's previous close.

A number of other equities analysts have also commented on the stock. UBS Group increased their price target on shares of Johnson & Johnson from $190.00 to $214.00 and gave the stock a "buy" rating in a report on Tuesday. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Barclays upped their price objective on Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Erste Group Bank raised Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Finally, Guggenheim raised Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their target price for the stock from $167.00 to $206.00 in a research note on Tuesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $199.76.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $190.88 on Wednesday. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $194.40. The stock has a fifty day moving average of $179.28 and a 200 day moving average of $164.16. 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 $459.70 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 2.40 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The firm had revenue of $24.02 billion for the quarter. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. On average, research analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Insider Transactions 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 completion of the sale, the executive vice president directly owned 178,013 shares in the company, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Johnson & Johnson

Several institutional investors and hedge funds have recently bought and sold shares of the business. Brighton Jones LLC boosted its position in Johnson & Johnson by 13.9% during the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock valued at $7,502,000 after acquiring an additional 6,332 shares in the last quarter. Wealth Group Ltd. purchased a new stake in Johnson & Johnson in the first quarter worth $218,000. GAMMA Investing LLC raised its holdings in Johnson & Johnson by 48.0% in the first quarter. GAMMA Investing LLC now owns 43,508 shares of the company's stock worth $7,215,000 after purchasing an additional 14,118 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Johnson & Johnson by 6.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,698,831 shares of the company's stock valued at $281,734,000 after buying an additional 107,009 shares during the period. Finally, Stephens Consulting LLC grew its position in shares of Johnson & Johnson by 13.8% in the 1st quarter. Stephens Consulting LLC now owns 4,714 shares of the company's stock worth $782,000 after buying an additional 571 shares during the period. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Company Profile

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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