Wells Fargo & Company upgraded shares of Johnson & Johnson (NYSE:JNJ) from a market perform rating to an outperform rating in a research note released on Monday morning, Marketbeat.com reports. Wells Fargo & Company currently has $149.00 price objective on the stock, up from their prior price objective of $140.00.
Other analysts have also issued research reports about the company. BidaskClub lowered Johnson & Johnson from a strong-buy rating to a buy rating in a research report on Saturday, July 1st. Royal Bank Of Canada reaffirmed a buy rating and set a $128.00 price objective on shares of Johnson & Johnson in a research report on Thursday, June 15th. UBS AG reissued a buy rating and issued a $148.00 target price (up previously from $136.00) on shares of Johnson & Johnson in a report on Wednesday, July 19th. Zacks Investment Research raised Johnson & Johnson from a hold rating to a buy rating and set a $148.00 target price on the stock in a report on Thursday, July 27th. Finally, Credit Suisse Group reissued a buy rating on shares of Johnson & Johnson in a report on Friday, August 4th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $135.98.
Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, July 18th. The company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.04. Johnson & Johnson had a return on equity of 26.76% and a net margin of 22.52%. The business had revenue of $18.84 billion for the quarter, compared to analyst estimates of $18.94 billion. During the same quarter in the prior year, the company earned $1.74 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis.
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In other news, VP Paulus Stoffels sold 102,692 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $133.14, for a total transaction of $13,672,412.88. Following the completion of the sale, the vice president now owns 230,342 shares in the company, valued at $30,667,733.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Dominic J. Caruso sold 82,591 shares of the stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $136.72, for a total transaction of $11,291,841.52. Following the sale, the vice president now owns 226,693 shares of the company’s stock, valued at approximately $30,993,466.96. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in JNJ. Harding Loevner LP acquired a new stake in shares of Johnson & Johnson during the second quarter worth about $106,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in shares of Johnson & Johnson by 29.9% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 870 shares of the company’s stock worth $115,000 after buying an additional 200 shares during the period. Lenox Wealth Advisors Inc. boosted its stake in shares of Johnson & Johnson by 0.6% during the second quarter. Lenox Wealth Advisors Inc. now owns 876 shares of the company’s stock worth $116,000 after buying an additional 5 shares during the period. IHT Wealth Management LLC boosted its stake in shares of Johnson & Johnson by 46.4% during the second quarter. IHT Wealth Management LLC now owns 10,942 shares of the company’s stock worth $122,000 after buying an additional 3,467 shares during the period. Finally, Mountain Capital Investment Advisors Inc acquired a new stake in shares of Johnson & Johnson during the second quarter worth about $124,000. Institutional investors and hedge funds own 65.90% of the company’s stock.
Johnson & Johnson Company Profile
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.
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