Johnson & Johnson tops 1Q profit forecasts

Johnson & Johnson products at a triathlon

Image source Johnson & Johnson

The institutional investor owned 156,800 shares of the company's stock after buying an additional 11,100 shares during the period.

Newer blood cancer drugs Darzalex and Imbruvica demonstrated very strong growth, while prostate cancer drug Zytiga struggled with USA sales off 14.3 percent. Share performance for the month is now at -2.13%. Finally, Goldman Sachs Group Inc lowered their price objective on shares of Johnson & Johnson from $120.00 to $115.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 25th. Lenox Wealth Advisors Inc. raised its position in Johnson & Johnson by 0.7% in the first quarter. AlphaOne also assigned headlines about the company an impact score of 19 out of 100, meaning that recent media coverage is very unlikely to have an effect on the company's share price in the immediate future. Envestnet Asset Management Inc. now owns 661,507 shares of the company's stock worth $76,207,000 after buying an additional 39,645 shares in the last quarter. Stock traders acquired 3,039 put options on the company.

Several sell side analysts reviewed their recommendations on Johnson & Johnson (JNJ) where 4 analyst have rated the stock as Strong Buy, 4 analysts said it's a Buy, 12 rated the stock as Hold, 0 analysts reported Underperform and 0 analysts gave their recommendations as Sell. The firm has a market capitalization of $341.12 billion, a P/E ratio of 21.20 and a beta of 0.74.

Stock is now moving with a positive distance from the 200 day simple moving average of approximately 6.66%, and has a solid year to date (YTD) performance of 9.84% which means the stock is constantly adding to its value from the previous fiscal year end price.

Johnson & Johnson reports financial earnings Tuesday, April 18, 2017. The firm earned $17.77 billion during the quarter, compared to analyst estimates of $18.02 billion. The Return on Investment (ROI) is at 17% while it's Return on Equity (ROE) value stands at 22.9%.

During the quarter, the company completed the acquisition of Abbott Medical Optics, a wholly-owned subsidiary of Abbott and global leader in ophthalmic surgery, for approximately $4.3 billion.

Net earnings in the first quarter were $4.42 billion, or $1.61 per share, compared with $4.46 billion, or $1.59 per share, in the year-earlier period. The company reported $1.83 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.06. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of USA & worldwide trademark and copyright law.

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Argus Research Upgrades Johnson & Johnson (JNJ) to Buy with a price target of $145. Barclays PLC reissued an "equal weight" rating and set a $130.00 price objective (up previously from $125.00) on shares of Johnson & Johnson in a report on Monday. Jefferies Group LLC reiterated a "hold" rating and issued a $107.00 target price on shares of Johnson & Johnson in a research note on Tuesday, December 20th.

The target price for Johnson & Johnson (JNJ) is $128.56/share according to the consensus of analysts working on the stock, with an expected EPS of $1.77/share for the current quarter.

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