Johnson & Johnson (NYSE:JNJ) Given New $167.00 Price Target at Morgan Stanley

Johnson & Johnson (NYSE:JNJ) had its target price lowered by Morgan Stanley from $168.00 to $167.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Cantor Fitzgerald reaffirmed an overweight rating and set a $215.00 price target on shares of Johnson & Johnson in a research note on Monday. Raymond James upped their price target on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an outperform rating in a research report on Wednesday, January 3rd. Royal Bank of Canada lowered 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. StockNews.com raised Johnson & Johnson from a buy rating to a strong-buy rating in a research report on Tuesday, February 6th. Finally, Bank of America lowered their price target on Johnson & Johnson from $180.00 to $170.00 and set a neutral rating for the company in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $176.21.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $144.77 on Wednesday. Johnson & Johnson has a 12-month low of $143.39 and a 12-month high of $175.97. The stock has a market capitalization of $348.86 billion, a P/E ratio of 9.03, a P/E/G ratio of 2.40 and a beta of 0.53. The firm’s 50-day moving average is $156.54 and its two-hundred day moving average is $155.74. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 0.91.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The company had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. During the same period last year, the company earned $2.68 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities analysts predict that Johnson & Johnson will post 10.65 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a dividend of $1.24 per share. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s dividend payout ratio is 29.68%.

Insider Buying and Selling

In related news, EVP Jennifer L. Taubert sold 59,397 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the transaction, the executive vice president now directly owns 141,416 shares in the company, valued at $22,099,078.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction on 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 directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jennifer L. Taubert sold 59,397 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $156.27, for a total value of $9,281,969.19. Following the completion of the sale, the executive vice president now directly owns 141,416 shares in the company, valued at $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Hibernia Wealth Partners LLC acquired a new position in shares of Johnson & Johnson during the third quarter valued at $27,000. Tower View Wealth Management LLC boosted its position in shares of Johnson & Johnson by 183.3% in the 3rd quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 165 shares during the period. Keener Financial Planning LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at $40,000. WFA Asset Management Corp boosted its position in shares of Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 97 shares during the period. Finally, Vermillion & White Wealth Management Group LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at $44,000. 69.55% of the stock is owned by institutional investors and hedge funds.

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.