Joaquin Duato Becomes CEO of Johnson & Johnson, Joins Board

According to Johnson & Johnson’s (NYSE: JNJ) SEC Filings, Joaquin Duato has assumed the role of CEO, effective January 3, 2022. Previously, Duato was the Vice-Chairman of the company’s Executive Committee. He has also been appointed to JNJ’s Board.

Additionally, former CEO and Chairman Alex Gorsky has transitioned to Executive Chairman of the multinational company, also effective January 3.

About Johnson & Johnson

New Jersey-based Johnson & Johnson develops medical devices, pharmaceuticals, and consumer packaged goods. The company has 250 subsidiaries with operations in 60 countries and products sold in over 175 countries. Its brands include Band-Aid, Tylenol, Neutrogena, Clean & Clear and Acuvue, among others.

Wall Street’s Take

Last month, Credit Suisse (NYSE: CS) analyst Matt Miksic reiterated a Buy rating on the stock with a $200 price target (16.5% upside potential).

Additionally, Chris Shibutani, an analyst with Goldman Sachs (NYSE: GS), initiated coverage of Johnson & Johnson with a Hold rating and a price target of $161 (6.2% downside potential).

Overall, the stock has a Strong Buy consensus rating based on 6 Buys and 1 Hold. The average JNJ stock forecast of $189.83 implies 10.6% upside potential. Shares have gained 10% over the past year.

Smart Score

Johnson & Johnson scores a “Perfect 10” on TipRanks’ Smart Score rating system. This makes it one of TipRanks Top Stocks and implies that it has strong potential to outperform market expectations.

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