Spotlight on Johnson & Johnson: Analyzing the Surge in Options Activity
Portfolio Pulse from Benzinga Insights
Significant bearish options activity has been observed in Johnson & Johnson (NYSE:JNJ), with a notable volume of puts compared to calls. The sentiment among big-money traders is predominantly bearish, with a price target range of $145.0 to $155.0. Despite this, analysts have varied ratings on JNJ, with a consensus target price of $179.4. The stock's current price is $145.22, with indicators suggesting it may be oversold. The company is preparing to divest its consumer group under the name Kenvue in 2023.
April 30, 2024 | 6:46 pm
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Johnson & Johnson has seen a surge in bearish options activity, with analysts holding varied views on its stock price. The company is also undergoing significant changes with the divestiture of its consumer group.
The bearish options activity indicates a short-term negative sentiment towards JNJ, despite some analysts maintaining positive outlooks. The divestiture of the consumer group could introduce volatility and uncertainty, impacting the stock's short-term performance.
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IMPORTANCE 90
RELEVANCE 100