Johnson & Johnson (NYSE:JNJ) Price Target Cut to $167.00

Johnson & Johnson (NYSE:JNJ - Get Free Report) had its price objective cut by Morgan Stanley from $168.00 to $167.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's price objective suggests a potential upside of 14.59% from the company's current price.

JNJ has been the subject of a number of other reports. Bank of America decreased their price objective on Johnson & Johnson from $180.00 to $170.00 and set a "neutral" rating for the company in a report on Wednesday. Raymond James lifted their price target on Johnson & Johnson from $172.00 to $175.00 and gave the company an "outperform" rating in a report on Wednesday, January 3rd. Cantor Fitzgerald reiterated an "overweight" rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Monday. Royal Bank of Canada reduced their price objective on shares of Johnson & Johnson from $181.00 to $175.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, StockNews.com raised Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, February 6th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $175.86.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock traded up $0.97 on Wednesday, reaching $145.74. 9,867,856 shares of the company were exchanged, compared to its average volume of 7,254,172. The firm has a market cap of $351.20 billion, a price-to-earnings ratio of 9.09, a P/E/G ratio of 2.40 and a beta of 0.53. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.91 and a current ratio of 1.16. The company's 50-day moving average is $156.32 and its two-hundred day moving average is $155.68.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.07. The firm had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the company earned $2.68 earnings per share. As a group, research analysts expect that Johnson & Johnson will post 10.65 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder & Johnson Johnson sold 3,725 shares of the company's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the sale, the insider now directly owns 4,099,575 shares of the company's stock, valued at approximately $105,810,030.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of Johnson & Johnson stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the sale, the insider now owns 4,099,575 shares of the company's stock, valued at approximately $105,810,030.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the sale, the executive vice president now owns 141,416 shares in the company, valued at $22,099,078.32. The disclosure for this sale can be found here. Insiders own 0.16% of the company's stock.

Hedge Funds Weigh In On Johnson & Johnson

Several institutional investors and hedge funds have recently made changes to their positions in the company. Plimoth Trust Co. LLC increased its position in shares of Johnson & Johnson by 4.6% in the first quarter. Plimoth Trust Co. LLC now owns 34,163 shares of the company's stock worth $5,404,000 after purchasing an additional 1,513 shares during the period. Silverlake Wealth Management LLC lifted its holdings in Johnson & Johnson by 1.3% during the 1st quarter. Silverlake Wealth Management LLC now owns 24,449 shares of the company's stock worth $3,868,000 after buying an additional 302 shares during the period. Naviter Wealth LLC raised its holdings in Johnson & Johnson by 43.8% during the 1st quarter. Naviter Wealth LLC now owns 20,281 shares of the company's stock worth $3,208,000 after purchasing an additional 6,174 shares during the last quarter. Quattro Financial Advisors LLC lifted its holdings in Johnson & Johnson by 27,610.8% in the first quarter. Quattro Financial Advisors LLC now owns 43,506 shares of the company's stock valued at $6,882,000 after buying an additional 43,349 shares during the period. Finally, MV Capital Management Inc. raised its position in shares of Johnson & Johnson by 5.3% in the 1st quarter. MV Capital Management Inc. now owns 18,942 shares of the company's stock worth $2,996,000 after acquiring an additional 947 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.