The stock of Johnson & Johnson (NYSE:JNJ) is now priced at $151.52 and the shares are -1.89 points down or -1.23% lower compared to its previous closing price of $153.41. The stock had 5.991 million contracts set over the past session. JNJ shares’ daily volume is compared to its average trading volume at 6.491 million shares. However, it has a float of 2630 million and although its performance was -0.36% over the week, it’s one to watch. Analysts have given the JNJ stock a yearly average price target of $165.06 per share. It means the stock’s upside potential is 8.94% with the JNJ share price recently placing at $150.07 to $154.08. However, some brokerage firms have priced the stock below the average, including one that has called $142.
The shorts are running away from the Johnson & Johnson stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the JNJ shares have declined. Short interest in the stock represents just 0.36% of its float, but the volume has dropped by 0.
In the last trading session, Johnson & Johnson (NYSE:JNJ) dropped by -$0.54 over the week and gained $4.3 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $157. The stock recorded its established 52-week high on 04/23/20.
Since 03/23/20, the stock has traded to a low of $109.16 at 38.81%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.68. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Johnson & Johnson’s two-week RSI is 58.51. This suggests that the stock is neutral at the moment and that JNJ shares’ price movement remains stable. The stochastic readings are equally revealing at 80.98% meaning the JNJ share price is currently in oversold territory.
The technical chart shows that the JNJ stock will likely settle at between $153.71 and $155.9 per share. However, if the stock dips below $149.7, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $147.88.
Currently, the stock is trading in the green of MACD, with a reading of 0.39. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at UBS cut their recommendation for JNJ from Buy to Neutral in April 28 review while maintai their target price of $163 to $160. BofA/Merrill analysts upgraded their recommendation of the stock from Neutral to Buy while keeping its target price at $150 to $175 in a flash note released to investors on April 22. Citigroup analysts see the stock as Buy when the analysts initiated the share price coverage on March 05, placing it at $163.
The average rating for the JNJ equity is 1.95 and is currently gathering a bullish momentum. Of 18 analysts tracking Johnson & Johnson polled by Reuters, 5 rated JNJ as a hold. The remaining 13 analysts were split evenly. However, the split wasn’t equal as a majority (13) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the JNJ stock price is 16.76X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 26.6 above the group’s average of 22.2. Johnson & Johnson has its P/E ratio at 6.3, which means that the stock is currently trading at a premium relative to the 5.4 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Johnson & Johnson (NYSE:JNJ) will increase by about 9.44%, which will see them reach $20100 million. The company’s full-year revenues are, however, expected to diminish by about -1.77%, down from $82100 million to $80600 million. JNJ’s expected adjusted earnings should drop almost -7.55% to end up at $1.96 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -9.33% to record $7.87/share.