Market Analysts see Johnson & Johnson [JNJ] gaining to $170. Time to buy?

Johnson & Johnson [NYSE: JNJ] loss -1.03% on the last trading session, reaching $175.67 price per share at the time. The company report on December 14, 2022 that Johnson & Johnson Announces Extension of Abiomed Tender Offer to December 21, 2022.

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Johnson & Johnson (NYSE: JNJ), the world’s largest, most diversified healthcare products company, today announced that Athos Merger Sub, Inc. (“Offeror”), a wholly owned subsidiary of Johnson & Johnson, has extended the expiration date of its offer (the “Offer”) to acquire all of the outstanding shares of common stock of Abiomed, Inc. (NASDAQ: ABMD), for an upfront payment of $380.00 per share in cash, plus one non-tradeable contingent value right entitling the holder to receive up to $35.00 per share in cash if certain commercial and clinical milestones are achieved.

The Offer, which was previously scheduled to expire at 11:59 p.m., New York City time, on December 13, 2022, has been extended until 11:59 p.m., New York City time, on December 21, 2022.

Johnson & Johnson represents 2.63 billion in outstanding shares, while the company has a total market value of $464.04 billion with the latest information. JNJ stock price has been found in the range of $174.86 to $177.00.

If compared to the average trading volume of 7.05M shares, JNJ reached a trading volume of 18834877 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Johnson & Johnson [JNJ]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for JNJ shares is $184.29 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on JNJ stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Credit Suisse have made an estimate for Johnson & Johnson shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 18, 2022. While these analysts kept the previous recommendation, Barclays raised their target price to Equal Weight. The new note on the price target was released on October 18, 2022, representing the official price target for Johnson & Johnson stock. Previously, the target price had yet another drop from $185 to $178, while BofA Securities kept a Neutral rating on JNJ stock.

The Average True Range (ATR) for Johnson & Johnson is set at 2.47, with the Price to Sales ratio for JNJ stock in the period of the last 12 months amounting to 4.83. The Price to Book ratio for the last quarter was 6.19, with the Price to Cash per share for the same quarter was set at 12.90. Price to Free Cash Flow for JNJ in the course of the last twelve months was 74.61 with Quick ratio for the last quarter at 1.20.

Trading performance analysis for JNJ stock

Johnson & Johnson [JNJ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.04. With this latest performance, JNJ shares gained by 1.27% in over the last four-week period, additionally plugging by 3.66% over the last 6 months – not to mention a rise of 1.54% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for JNJ stock in for the last two-week period is set at 49.19, with the RSI for the last a single of trading hit 43.75, and the three-weeks RSI is set at 51.95 for Johnson & Johnson [JNJ]. The present Moving Average for the last 50 days of trading for this stock 172.61, while it was recorded at 177.99 for the last single week of trading, and 173.23 for the last 200 days.

Johnson & Johnson [JNJ]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Johnson & Johnson [JNJ] shares currently have an operating margin of +26.11 and a Gross Margin at +68.14. Johnson & Johnson’s Net Margin is presently recorded at +22.27.

Return on Equity for this stock inclined to 30.41, with Return on Assets sitting at 11.70.

Johnson & Johnson’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.40.

Johnson & Johnson [JNJ]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for JNJ. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Johnson & Johnson go to 3.65%.

An analysis of insider ownership at Johnson & Johnson [JNJ]

There are presently around $319,817 million, or 70.80% of JNJ stock, in the hands of institutional investors. The top three institutional holders of JNJ stocks are: VANGUARD GROUP INC with ownership of 245,340,875, which is approximately 1.161% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 199,892,348 shares of the stock with an approximate value of $35.12 billion in JNJ stocks shares; and STATE STREET CORP, currently with $24.93 billion in JNJ stock with ownership of nearly 0.569% of the company’s market capitalization.

Positions in Johnson & Johnson stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 1,792 institutional holders increased their position in Johnson & Johnson [NYSE:JNJ] by around 40,868,827 shares. Additionally, 1,593 investors decreased positions by around 50,943,719 shares, while 375 investors held positions by with 1,728,741,589 shares. The mentioned changes placed institutional holdings at 1,820,554,135 shares, according to the latest SEC report filing. JNJ stock had 105 new institutional investments in for a total of 3,535,626 shares, while 124 institutional investors sold positions of 4,041,705 shares during the same period.


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