Johnson & Johnson (NYSE:JNJ) Price Target Raised to $215.00

Key Points

• Citigroup has raised the price target for Johnson & Johnson's stock from $213.00 to $215.00, indicating a potential upside of 12.22% from its current price.
• The stock currently has a consensus rating of "Moderate Buy" with an average target price of $199.88, and has been rated as "buy" by multiple analysts.
• As of the latest trading session, Johnson & Johnson's shares were priced at $191.59, with a market capitalization of $461.42 billion and a price-to-earnings ratio of 20.48.

Johnson & Johnson (NYSE:JNJ - Get Free Report) had its price target raised by equities researchers at Citigroup from $213.00 to $215.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's target price indicates a potential upside of 12.22% from the stock's current price.

Other equities research analysts have also recently issued research reports about the stock. Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company set a $212.00 target price on shares of Johnson & Johnson and gave the stock an "overweight" rating in a research note on Friday, October 3rd. Guggenheim raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $167.00 to $206.00 in a research note on Tuesday, September 23rd. HSBC boosted their price target on shares of Johnson & Johnson from $188.00 to $210.00 in a research report on Tuesday, September 30th. Finally, Morgan Stanley set a $190.00 price target on shares of Johnson & Johnson in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $199.88.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock traded up $0.74 during midday trading on Wednesday, hitting $191.59. The company had a trading volume of 1,626,702 shares, compared to its average volume of 8,896,752. The stock has a market cap of $461.42 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 2.40 and a beta of 0.40. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The company has a fifty day simple moving average of $179.28 and a 200 day simple moving average of $164.16. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $194.40.

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

Insider Buying and Selling

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the business's stock in a transaction dated Thursday, September 4th. The stock was 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 owned 178,013 shares in the company, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by company insiders.

Hedge Funds Weigh In On Johnson & Johnson

A number of institutional investors have recently made changes to their positions in JNJ. Vanguard Group Inc. lifted its stake in shares of Johnson & Johnson by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 237,047,859 shares of the company's stock worth $36,209,060,000 after acquiring an additional 3,085,180 shares during the period. Geode Capital Management LLC lifted its stake in Johnson & Johnson by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 60,609,476 shares of the company's stock worth $9,227,988,000 after acquiring an additional 1,225,676 shares in the last quarter. Norges Bank purchased a new stake in shares of Johnson & Johnson during the 2nd quarter worth about $4,877,174,000. Northern Trust Corp grew its holdings in Johnson & Johnson by 0.4% during the first quarter. Northern Trust Corp now owns 30,943,820 shares of the company's stock valued at $5,131,723,000 after purchasing an additional 130,645 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Johnson & Johnson by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 23,802,503 shares of the company's stock valued at $3,635,832,000 after purchasing an additional 620,039 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

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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