Johnson & Johnson (NYSE:JNJ) Price Target Raised to $200.00 at Citigroup

Key Points

• Citigroup has raised its target price for Johnson & Johnson (NYSE:JNJ) from $185.00 to $200.00, suggesting a potential upside of 11.31% from the previous close.
• Johnson & Johnson reported earnings of $2.77 per share, surpassing expectations and achieving a quarterly revenue of $23.74 billion, marking a 5.8% increase year-over-year.
• Institutional investors have significantly increased their positions in Johnson & Johnson, with 69.55% of the company's stock now owned by these entities.

Johnson & Johnson (NYSE:JNJ - Get Free Report) had its target price boosted by research analysts at Citigroup from $185.00 to $200.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's target price indicates a potential upside of 11.31% from the stock's previous close.

JNJ has been the topic of several other research reports. Guggenheim restated a "neutral" rating and issued a $167.00 target price (up previously from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Royal Bank Of Canada increased their price target on shares of Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Leerink Partnrs lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Bank of America raised their price objective on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $176.29.

Johnson & Johnson Stock Up 0.5%

NYSE JNJ traded up $0.8330 on Thursday, reaching $179.6730. The company had a trading volume of 3,292,491 shares, compared to its average volume of 9,008,139. The firm has a market capitalization of $432.71 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 2.26 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $180.61. The company's fifty day moving average is $162.59 and its 200-day moving average is $158.87.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. The company had revenue of $23.74 billion for 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 quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.82 EPS. Johnson & Johnson has set its FY 2025 guidance at 10.800-10.900 EPS. On average, research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Johnson & Johnson

A number of institutional investors and hedge funds have recently made changes to their positions in JNJ. Norges Bank bought a new position in shares of Johnson & Johnson in the second quarter worth $4,877,174,000. Nuveen LLC acquired a new position in shares of Johnson & Johnson in the first quarter worth approximately $1,369,188,000. Laurel Wealth Advisors LLC increased its holdings in Johnson & Johnson by 15,040.6% in the second quarter. Laurel Wealth Advisors LLC now owns 7,420,699 shares of the company's stock worth $1,133,512,000 after purchasing an additional 7,371,687 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Johnson & Johnson by 24,450.4% during the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock valued at $1,196,596,000 after acquiring an additional 7,185,977 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Johnson & Johnson by 26.4% during the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock valued at $3,844,580,000 after acquiring an additional 4,842,582 shares in the last quarter. 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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