Market Update (NYSE:JNJ): California AG sues Johnson & Johnson over marketing for pelvic mesh
May 24, 2016 at 15:07 PM EDT
[Reuters] – California’s attorney general filed a lawsuit on Tuesday accusing Johnson & Johnson of failing to warn doctors and patients about the severity and frequency of complications associated with its pelvic … Read more on this. Johnson & Johnson (JNJ) , with a current market cap of $309.97B, opened at $112.52. Today’s price range has been between $112.52 and $113.50 per share with the price of the stock fluctuating between $81.79 to $115.00 over the last 52 weeks. Johnson & Johnson (JNJ) shares are currently priced at 16.97x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 5.55x earnings multiple for the same period. The company pays shareholders $3.20 per share in dividend income per year, for a current yield of 2.85%. Consensus earnings for the current quarter by the 19 sell-side analysts covering the stock is an estimate of $1.69 per share, which would be $0.02 worse than the year-ago quarter and a $0.03 sequential increase. What we find to be interesting is that the full-year EPS estimate of $6.61 is a $0.41 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $17.98 Billion. If reported, that would be a 1.07% increase over the year-ago quarter. In terms of ratings, Standpoint Research Initiated JNJ at Sell (May 20, 2016). Previously, Goldman upgraded JNJ from Sell to Neutral. The average price target for JNJ shares by the analysts covering it is $117.44, which is 4.37% above where the stock opened. See more in (NYSE:JNJ) Similar Articles: Market Update: Johnson & Johnson (NYSE:JNJ) – Johnson & Johnson Joins First Industry-wide Call for New Collective Action to Address Antimicrobial Resistance Market Update: Johnson & Johnson (NYSE:JNJ) – Johnson & Johnson to cut about 3000 jobs Market Update: Johnson & Johnson (NYSE:JNJ) – U.S. justices reject Johnson & Johnson unit’s anti-psychotic drug appeal
