Johnson & Johnson (NYSE:JNJ) Given New $230.00 Price Target at Wells Fargo & Company

Johnson & Johnson (NYSE:JNJ) had its price objective boosted by Wells Fargo & Company from $212.00 to $230.00 in a research note issued on Friday,MarketScreener reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 8.67% from the stock’s current price.

Several other research firms have also recently issued reports on JNJ. Argus set a $210.00 price target on Johnson & Johnson in a research note on Wednesday, October 15th. Daiwa America raised shares of Johnson & Johnson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Sanford C. Bernstein raised their price objective on shares of Johnson & Johnson from $172.00 to $193.00 and gave the company a “market perform” rating in a research note on Monday, October 6th. Raymond James Financial boosted their target price on Johnson & Johnson from $174.00 to $209.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Finally, Cowen reaffirmed a “buy” rating on shares of Johnson & Johnson in a research note on Tuesday, October 14th. Four analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.55.

Johnson & Johnson Trading Up 0.8%

Shares of JNJ stock traded up $1.64 during mid-day trading on Friday, reaching $211.65. The company’s stock had a trading volume of 6,919,148 shares, compared to its average volume of 9,422,986. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $212.27. The firm has a market capitalization of $509.93 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.34 and a beta of 0.36. The company’s 50 day simple moving average is $196.09 and its 200-day simple moving average is $177.08.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. The business had revenue of $24.02 billion for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%. On average, research analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Institutional Trading of Johnson & Johnson

Institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC increased its position in Johnson & Johnson by 13.9% in the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock worth $7,502,000 after buying an additional 6,332 shares during the period. United Bank boosted its position in Johnson & Johnson by 110.7% in the first quarter. United Bank now owns 9,279 shares of the company’s stock valued at $1,539,000 after buying an additional 4,876 shares in the last quarter. Cookson Peirce & Co. Inc. acquired a new stake in shares of Johnson & Johnson in the first quarter valued at $208,000. EverSource Wealth Advisors LLC lifted its position in shares of Johnson & Johnson by 10.5% during the first quarter. EverSource Wealth Advisors LLC now owns 19,646 shares of the company’s stock worth $3,258,000 after purchasing an additional 1,863 shares in the last quarter. Finally, Forvis Mazars Wealth Advisors LLC increased its stake in shares of Johnson & Johnson by 37.6% in the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 58,656 shares of the company’s stock valued at $9,728,000 after buying an additional 16,019 shares during the period. 69.55% of the stock is currently 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.