Johnson & Johnson (JNJ) Downgraded by Zacks Investment Research to Hold

Johnson & Johnson (NYSE:JNJ) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Sales in J&J’s domestic Pharma segment decelerated in the first half of 2017 as a number of key growth drivers like Remicade and Concerta are facing competition.  However, sales growth accelerated in Q3 and the positive trend is expected to continue in Q4. We believe that new products in all segments, label expansion of drugs like Imbruvica and Darzalex and contribution from recent acquisitions – mainly Actelion – can support top-line growth.  Meanwhile, share buybacks and the restructuring initiative should provide bottom-line support. J&J is also making rapid progress with its pipeline and line extensions. J&J’s shares have outperformed the industry this year so far.  However, headwinds like generics, pricing pressure and soft global market conditions remain. Sluggish growth in the Consumer segment is also a concern.”

Other equities research analysts have also issued reports about the stock. J P Morgan Chase & Co boosted their price objective on shares of Johnson & Johnson from $140.00 to $148.00 and gave the stock an “overweight” rating in a report on Wednesday, August 16th. Jefferies Group set a $145.00 price objective on shares of Johnson & Johnson and gave the stock a “hold” rating in a report on Tuesday, August 15th. Cowen set a $147.00 price objective on shares of Johnson & Johnson and gave the stock a “buy” rating in a report on Thursday, August 24th. UBS restated an “underweight” rating on shares of Johnson & Johnson in a report on Thursday, August 24th. Finally, BMO Capital Markets restated a “buy” rating and issued a $145.00 price objective on shares of Johnson & Johnson in a report on Friday, September 1st. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $144.59.

Shares of Johnson & Johnson (JNJ) traded up $1.89 during trading hours on Tuesday, reaching $143.03. 2,035,944 shares of the company traded hands, compared to its average volume of 5,861,946. The stock has a market capitalization of $377,697.84, a PE ratio of 19.69, a P/E/G ratio of 2.86 and a beta of 0.80. Johnson & Johnson has a 12 month low of $110.76 and a 12 month high of $144.35. The company has a current ratio of 1.32, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, October 17th. The company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.80 by $0.10. Johnson & Johnson had a net margin of 21.28% and a return on equity of 27.38%. The company had revenue of $19.65 billion during the quarter, compared to analysts’ expectations of $19.29 billion. During the same quarter in the previous year, the company earned $1.68 earnings per share. Johnson & Johnson’s revenue for the quarter was up 10.3% on a year-over-year basis. equities analysts anticipate that Johnson & Johnson will post 7.28 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the company. Harding Loevner LP bought a new stake in shares of Johnson & Johnson in the second quarter valued at about $106,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its holdings in Johnson & Johnson by 29.9% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 870 shares of the company’s stock worth $115,000 after purchasing an additional 200 shares in the last quarter. Lenox Wealth Advisors Inc. raised its holdings in Johnson & Johnson by 0.6% in the second quarter. Lenox Wealth Advisors Inc. now owns 876 shares of the company’s stock worth $116,000 after purchasing an additional 5 shares in the last quarter. IHT Wealth Management LLC raised its holdings in Johnson & Johnson by 46.4% in the second quarter. IHT Wealth Management LLC now owns 10,942 shares of the company’s stock worth $122,000 after purchasing an additional 3,467 shares in the last quarter. Finally, Mountain Capital Investment Advisors Inc bought a new position in Johnson & Johnson in the second quarter worth about $124,000. 65.89% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Johnson & Johnson (NYSE:JNJ)

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