Stock market today: Nasdaq closes above 23,000 for first time as tech rebounds
Johnson and Johnson stock has reached an all-time high, hitting a price of 189.92 USD, with a substantial year-to-date return of 33.76%. According to InvestingPro analysis, the stock currently shows signs of being slightly undervalued despite trading near its 52-week high. This milestone marks a significant achievement for the company, reflecting investor confidence and strong market performance. Over the past year, Johnson and Johnson’s stock has seen a notable increase, supported by a healthy P/E ratio of 20.33 and an impressive market capitalization of $457 billion. The company’s robust financial health, including a steady dividend yield of 2.75% and a 54-year history of consecutive dividend increases, has contributed to this growth. InvestingPro subscribers can access 12 additional key insights and a comprehensive Pro Research Report, essential for understanding JNJ’s full investment potential.
In other recent news, Johnson & Johnson has been the subject of several noteworthy developments. Goldman Sachs raised its price target for the company to $212, maintaining a Conviction Buy rating due to strong performance in its Innovative Medicines segment. The firm anticipates Johnson & Johnson will surpass earnings estimates for key products such as Tremfya, Darzalyx, and Carvykti. Meanwhile, Guggenheim reiterated its Buy rating with a price target of $206, highlighting positive investor reception since its initial upgrade. In legal matters, a Los Angeles jury ordered Johnson & Johnson to pay $966 million in a baby powder lawsuit, marking another significant case in ongoing litigation. On the research front, the company reported promising results for its ulcerative colitis treatments. The Phase 3 ASTRO study showed TREMFYA achieved notable clinical and endoscopic remission rates at 48 weeks. Additionally, the Phase 2b ANTHEM-UC study revealed that the investigational oral drug icotrokinra met its primary endpoint, with the highest dose showing a 63.5% clinical response rate. These developments reflect a mix of legal challenges and promising pharmaceutical advancements for Johnson & Johnson.
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