Johnson & Johnson (NYSE:JNJ) Upgraded by Daiwa Capital Markets to Outperform Rating

Key Points

• Johnson & Johnson was upgraded by Daiwa Capital Markets from a "neutral" rating to an "outperform" rating, with a new price target of $203.00, indicating a potential upside of 5.04%.
• Other firms have also raised their price targets, with Sanford C. Bernstein increasing its target from $172.00 to $193.00 and Raymond James lifting it to $209.00.
• Currently, Johnson & Johnson has a consensus rating of "Moderate Buy" and an average target price of $200.06, supported by strong quarterly earnings reported recently.

Johnson & Johnson (NYSE:JNJ - Get Free Report) was upgraded by equities research analysts at Daiwa Capital Markets from a "neutral" rating to an "outperform" rating in a research report issued on Monday, Marketbeat Ratings reports. The firm presently has a $203.00 price target on the stock. Daiwa Capital Markets' price target would indicate a potential upside of 5.04% from the company's current price.

Several other research firms have also recently issued reports on JNJ. Sanford C. Bernstein raised their price objective on Johnson & Johnson from $172.00 to $193.00 and gave the stock a "market perform" rating in a report on Monday, October 6th. Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Barclays lifted their target price on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Raymond James Financial lifted their target price on Johnson & Johnson from $174.00 to $209.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $209.00 target price on shares of Johnson & Johnson in a report on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $200.06.

Johnson & Johnson Price Performance

JNJ stock opened at $193.27 on Monday. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $194.40. The stock's fifty day simple moving average is $180.49 and its 200-day simple moving average is $164.90. 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 stock has a market capitalization of $465.45 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 2.27 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. Johnson & Johnson had a return on equity of 33.08% and a net margin of 27.26%.The business had revenue of $24.02 billion for the quarter. Equities research analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the firm's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the transaction, the executive vice president directly owned 178,013 shares of the company's stock, valued at $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Evolution Wealth Management Inc. purchased a new stake in shares of Johnson & Johnson during the second quarter worth about $27,000. Clayton Financial Group LLC purchased a new stake in shares of Johnson & Johnson during the third quarter worth about $28,000. Semmax Financial Advisors Inc. increased its position in shares of Johnson & Johnson by 55.0% during the second quarter. Semmax Financial Advisors Inc. now owns 203 shares of the company's stock worth $31,000 after acquiring an additional 72 shares during the last quarter. GFG Capital LLC purchased a new stake in shares of Johnson & Johnson during the second quarter worth about $35,000. Finally, Stone House Investment Management LLC purchased a new stake in shares of Johnson & Johnson during the first quarter worth about $47,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

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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