Company Update: Johnson & Johnson (NYSE:JNJ) – Texas Federal Court Rules DePuy Hip Implant Trials in Dallas Will Proceed

[PR Newswire] – DALLAS, July 6, 2016 /PRNewswire/ — A federal judge in Dallas has cleared the way for a September trial in the ongoing multidistrict litigation filed against DePuy Orthopaedics Inc., a subsidiary of Johnson & Johnson (JNJ), by patients who suffered medical problems after receiving the company’s Pinnacle metal-on-metal hip implants. Attorney Mark Lanier of The Lanier Law Firm represents many hip implant victims whose cases are still pending. Read more on this. Johnson & Johnson (JNJ) , with a current market cap of $335.36B, started the session at $121.93. Shares have traded today between $121.54 and $122.64 per share with its 52-week range being $81.79 to $123.23. Priced at 18.50x this year’s forecasted earnings, JNJ shares are relatively expensive compared to the industry’s 5.35x forward p/e ratio. The company pays shareholders $3.20 per share annually in dividends, yielding 2.64%. According to a consensus of 19 analysts, the earnings estimate of $1.69 per share would be $0.02 worse than the year-ago quarter and a $0.03 sequential increase. The full-year EPS estimate is $6.61 which would be a $0.41 better than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $17.99 Billion. If reported, that would be a 1.12% 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. When considering if the stock is under or overvalued, the average price target is $117.89, which is 3.31% below where the stock opened this morning. See more in (NYSE:JNJ) Similar Articles: Company Update: Johnson & Johnson (NYSE:JNJ) – Jim Cramer’s Top Takeaways: Oracle, Johnson & Johnson Stock Update: Johnson & Johnson (NYSE:JNJ) – Retired Johnson & Johnson CEO Ralph Larsen, 77, dies in Fla. Market Update: Johnson & Johnson (NYSE:JNJ) – Johnson & Johnson to cut about 3000 jobs