Royal Bank of Canada Reaffirms Buy Rating for Johnson & Johnson (NYSE:JNJ)

Royal Bank of Canada restated their buy rating on shares of Johnson & Johnson (NYSE:JNJ) in a research note published on Tuesday, Borsen Zeitung reports.

Several other research analysts have also recently issued reports on JNJ. Zacks Investment Research raised Jack Henry & Associates from a sell rating to a hold rating in a research note on Wednesday, March 27th. Wells Fargo & Co increased their target price on Wingstop from $76.00 to $84.00 and gave the company an outperform rating in a research report on Monday, May 6th. Morgan Stanley set a $60.00 target price on Berry Global Group and gave the company a hold rating in a research report on Wednesday, April 17th. Goldman Sachs Group set a $27.00 target price on Melco Resorts & Entertainment and gave the company a buy rating in a research report on Tuesday, May 28th. Finally, Bank of America raised First Horizon National from an underperform rating to a neutral rating and set a $16.00 target price on the stock in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $148.56.

Shares of NYSE:JNJ opened at $132.07 on Tuesday. Johnson & Johnson has a 52-week low of $121.00 and a 52-week high of $148.99. The company has a market capitalization of $350.10 billion, a PE ratio of 16.15, a P/E/G ratio of 2.28 and a beta of 0.70. The business has a 50 day moving average price of $138.36. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 1.44.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, July 16th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.16. Johnson & Johnson had a return on equity of 38.57% and a net margin of 20.08%. The company had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.39 billion. During the same quarter in the prior year, the firm earned $2.10 earnings per share. Johnson & Johnson’s revenue was down 1.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Johnson & Johnson will post 8.59 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $3.80 annualized dividend and a yield of 2.88%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 46.45%.

In related news, Director Marillyn A. Hewson bought 3,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were acquired at an average price of $139.68 per share, with a total value of $419,040.00. Following the transaction, the director now owns 3,000 shares of the company’s stock, valued at $419,040. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.23% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Evolution Wealth Advisors LLC purchased a new stake in shares of Johnson & Johnson during the 4th quarter valued at $40,000. Horan Securities Inc. lifted its holdings in shares of Johnson & Johnson by 122.3% during the 4th quarter. Horan Securities Inc. now owns 438 shares of the company’s stock valued at $56,000 after purchasing an additional 241 shares during the last quarter. Stuart Chaussee & Associates Inc. lifted its holdings in shares of Johnson & Johnson by 20.7% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 466 shares of the company’s stock valued at $60,000 after purchasing an additional 80 shares during the last quarter. Thor Advisors LLC purchased a new stake in shares of Johnson & Johnson during the 1st quarter valued at $69,000. Finally, FNY Investment Advisers LLC lifted its holdings in shares of Johnson & Johnson by 594.4% during the 4th quarter. FNY Investment Advisers LLC now owns 500 shares of the company’s stock valued at $64,000 after purchasing an additional 428 shares during the last quarter. 66.85% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

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Analyst Recommendations for Johnson & Johnson (NYSE:JNJ)

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