Johnson & Johnson Upgraded to “Outperform” at Raymond James Following Synthes Merger Approval, $12.9 Billion Share Buyback (JNJ)

By Staff,

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Diversified healthcare giant Johnson & Johnson ( JNJ ) on Wednesday caught a big upgrade from analysts at Raymond James.

The firm said it boosted its rating on JNJ from "Market Perform" to "Outperform." The move comes following J&J's announcement late Tuesday that its proposed $19.7 billion cash/stock acquisition of Swiss medical device maker Synthes has received regulatory approval.

In pursuant to the deal, J&J's Janssen unit will begin repurchasing up to $12.9 billion of JNJ's common stock.

Johnson & Johnson shares rose $1.32, or +2.1%, in premarket trading Wednesday.

The Bottom Line
We began recommending shares of Johnson & Johnson ( JNJ ) on Apr.27, when the stock was trading at $64.75. The company has a 3.87% dividend yield, based on last night's closing stock price of $63.08.

Johnson & Johnson ( JNJ ) is a "Recommended" dividend stock, holding a DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: JNJ

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