Published: November 22, 2025
Johnson & Johnson stock (NYSE: JNJ) is heading into the weekend of November 22, 2025 sitting close to its 52‑week highs, buoyed by a powerful year‑to‑date rally, strong third‑quarter earnings and fresh oncology deal-making. At the same time, investors are still weighing multi‑billion‑dollar talc litigation risks and a major portfolio reshaping.
Here’s what’s happening with JNJ stock right now, what’s driving the move, and the key dates and catalysts to watch.
Johnson & Johnson stock today: price, range and recent move
As of Friday’s close on November 21, 2025, Johnson & Johnson stock finished around $203.90 after trading between roughly $203 and $207 during the session, with volume a bit above its usual levels. [1]
Over the past year, JNJ shares have climbed more than 30%, moving from a 52‑week low near $141 to new highs above $205–206, putting the stock right near the top of its trading range. [2]
Some quick snapshot stats for context:
- Last close: ≈ $203.9–204.4 (Nov 21, 2025) [3]
- 52‑week range: about $140.68 – $206.94 [4]
- Average daily volume: ~13 million shares [5]
- Beta: around 0.2–0.25, implying lower volatility than the overall market [6]
On Friday, JNJ gained roughly 0.4%, slightly lagging the S&P 500’s near 1% advance, but the move capped off a notably strong run into the weekend. [7]
A powerful 2025 comeback: JNJ’s 10‑day rally and year‑to‑date surge
The headline number many traders are watching: JNJ is up about 44% year‑to‑date in 2025, crushing the S&P 500’s roughly 12% gain over the same period. [8]
A recent analysis highlights just how strong the recent momentum has been:
- Last 10 trading days: JNJ up 9.3% vs. the S&P 500 down about 1.9%
- 1‑month (21 trading days): JNJ +5.9% vs. S&P 500 –2.0%
- 3‑month (63 trading days): JNJ +15.1% vs. S&P 500 +2.5% [9]
That rally has transformed Johnson & Johnson from a “steady defensive” name that lagged in 2023–2024 into one of 2025’s standout large‑cap healthcare performers.
Earnings momentum: Q3 2025 results and upgraded guidance
A big driver of the move in Johnson & Johnson stock has been strong third‑quarter 2025 results:
- Q3 2025 revenue: about $24.0 billion, up 6.8% year over year
- Operational sales growth: roughly 5.4%
- Reported EPS:$2.12; adjusted EPS:$2.80, modestly beating consensus forecasts [10]
Management also raised full‑year 2025 sales guidance, now targeting revenue of roughly $93.5–$93.9 billion, up from a prior range around $93.2–$93.6 billion, implying about 5.7% growth over 2024. [11]
Growth is being driven primarily by:
- Innovative Medicine (pharmaceuticals):
Strong performance from oncology drugs like Darzalex and Carvykti, and immunology therapy Tremfya, helping offset patent‑related pressure on legacy products like Stelara. [12] - MedTech (medical devices):
Mid‑single‑digit growth supported by heart devices (including Abiomed and Shockwave), surgical vision and wound closure products. [13]
Taken together, these results reinforce the narrative that Johnson & Johnson is leaning into faster‑growing pharma and medtech categories while reshaping the rest of its portfolio.
Deal-making and portfolio reshaping: Halda, Intra‑Cellular and the orthopedics spin‑off
Halda Therapeutics: $3+ billion oncology bet
This week, JNJ grabbed headlines again by announcing a $3.0–3.05 billion all‑cash acquisition of Halda Therapeutics, a privately held cancer drug developer. [14]
Key points from the deal:
- Halda’s lead candidate, HLD‑0915, targets metastatic prostate cancer and is in early clinical trials.
- The company uses a RiPTAC platform – an oral precision‑medicine approach designed to selectively kill tumor cells and overcome treatment resistance. [15]
- J&J expects the deal to modestly dilute adjusted EPS in 2026 (about $0.15 per share) but bolster its long‑term oncology pipeline. [16]
Earlier in 2025, Johnson & Johnson also closed a $14.6 billion acquisition of Intra‑Cellular Therapies, further strengthening its neuroscience and psychiatry franchise. [17]
Together, these deals underscore a clear strategy: use JNJ’s strong cash flow and balance sheet to deepen its presence in higher‑growth therapeutic areas, even if that means some short‑term margin pressure.
Orthopedics spin‑off: DePuy Synthes set to separate
Alongside the Halda deal, JNJ is preparing another major structural move: spinning off its orthopedics business, DePuy Synthes, into a separate public company. [18]
- The unit generates over $9 billion in annual sales and will be led by former Smith & Nephew CEO Namal Nawana. [19]
- The separation is targeted to complete within 18–24 months, echoing the earlier Kenvue consumer‑health spin‑off that made J&J a more focused pharma/medtech player. [20]
For shareholders, these moves collectively aim to:
- Concentrate JNJ’s resources on higher‑margin, higher‑growth businesses;
- Unlock potential valuation re‑rating by simplifying the corporate structure;
- Maintain the company’s capacity to fund dividends and acquisitions.
Valuation check: JNJ is no longer “cheap,” but not obviously expensive
After the 2025 rally, Johnson & Johnson stock is no longer trading at the depressed levels seen in late 2023–2024. Key valuation metrics now sit around:
- Trailing P/E: roughly 19–20x earnings (TTM) [21]
- Forward P/E: high‑teens, around 18x based on 2025–2026 estimates [22]
That places JNJ:
- In line with or slightly above its long‑term historical median P/E (around the high teens); [23]
- Roughly in line with the broader pharmaceuticals industry, and below some faster‑growing peers that trade in the low‑ to mid‑20s. [24]
On the Wall Street side, most analyst services still rate Johnson & Johnson as some form of “Buy” or “Moderate Buy,” with average 12‑month price targets clustering around $200–$207 — very close to where the shares trade today. [25]
Price targets from major aggregators suggest:
- Average target: roughly $201–$207
- High end: around $230
- Low end: in the mid‑$170s to $190s [26]
In other words, after the recent surge, analysts as a group see only modest upside – or even slight downside – over the next year, unless earnings or sentiment improve further.
Dividend appeal: income, yield and a near-term ex‑dividend date
For income‑focused investors, Johnson & Johnson stock remains a classic dividend growth name.
- The Board has declared a Q4 2025 dividend of $1.30 per share, payable on December 9, 2025 to shareholders of record as of November 25, 2025. [27]
- The ex‑dividend date is November 25, 2025 — meaning buyers must own the stock before that date to receive the next payout. [28]
- Over the last 12 months, JNJ has paid about $5.08 per share in dividends, implying a dividend yield around 2.5% at current prices, with a payout ratio just under 50%. [29]
That combination of mid‑single‑digit earnings growth plus a 2–3% dividend yield is a big part of Johnson & Johnson’s long‑term total‑return story.
In the very short term, the upcoming ex‑dividend date is a notable trading catalyst:
- It’s not unusual for high‑quality dividend stocks to see buying interest into the ex‑div date and a mechanical price drop roughly equal to the dividend amount once the stock trades ex‑dividend.
- Traders focused on short‑term moves around November 25 will be watching that pattern closely.
Talc litigation: the biggest overhang on Johnson & Johnson stock
Despite the strong fundamentals, talc litigation remains the single largest overhang for Johnson & Johnson stock.
Where things stand now
- As of early September 2025, there were about 66,910 cases in the federal multidistrict litigation (MDL) over talc‑related cancer claims, plus thousands more in state courts. [30]
- Johnson & Johnson’s latest attempt to resolve claims via an $8 billion bankruptcy settlement was rejected in March 2025, marking the third time courts have blocked a bankruptcy‑based solution. [31]
- A court‑appointed mediator is now overseeing settlement talks in ovarian cancer lawsuits, suggesting that serious negotiations are under way even as trials continue. [32]
Major 2025 verdicts and new cases
Several recent verdicts highlight both the ongoing legal risk and its potential financial scale:
- July 29, 2025 (Massachusetts): jury awards $42.6 million to a man who developed mesothelioma allegedly linked to decades of talc use. [33]
- October 7, 2025 (Los Angeles): jury orders J&J to pay $966 million in a mesothelioma case (including $950 million in punitive damages) — one of the largest talc verdicts to date; J&J plans to appeal and calls the verdict “egregious and unconstitutional.” [34]
- November 4, 2025 (Florida): a jury returns a $20 million ovarian cancer verdict, while reports indicate settlement offers of up to $9 million per plaintiff in some negotiations. [35]
- November 18, 2025 (California): a new state‑court trial involving two women with ovarian cancer linked to talc exposure begins, adding to the trial pipeline. [36]
Internationally, the litigation is widening:
- Around 3,000 people in the UK have launched legal action seeking over £1 billion in damages for alleged talc‑related ovarian cancer and mesothelioma, including claims involving J&J subsidiaries and Kenvue. [37]
Johnson & Johnson continues to deny that its talc products caused cancer and maintains they were safe and asbestos‑free; the company is appealing large verdicts and has also won or reduced several cases. Nevertheless, the possibility of a large, global settlement or additional blockbuster verdicts remains a key risk factor for JNJ stock.
What to watch next for JNJ stock
Over the coming weeks and months, Johnson & Johnson investors will likely focus on several catalysts:
- Ex‑dividend date (November 25, 2025)
- Short‑term traders may position around the dividend capture.
- Longer‑term investors will be watching how the stock behaves after the typical ex‑dividend price adjustment. [38]
- Progress toward a talc settlement
- Any sign of a comprehensive settlement framework – even if costly – could reduce uncertainty and potentially support a higher valuation multiple. [39]
- Regulatory and legal developments abroad
- The UK lawsuit and other international cases will help shape the eventual scope of any global resolution. [40]
- Pipeline and product news
- Updates on the orthopedics spin‑off
- As more details emerge on the financials, structure and timing of the DePuy Synthes separation, investors will reassess how much value could be unlocked. [43]
- Next earnings reports and 2026 guidance
- With the stock already near record highs and consensus price targets, any earnings disappointment or cautious outlook could spark volatility.
Is Johnson & Johnson stock a buy right now?
Whether Johnson & Johnson stock is attractive today depends heavily on your time horizon and risk tolerance.
Reasons some investors remain bullish on JNJ
- Defensive, diversified business across pharmaceuticals and medtech with global scale.
- Consistent earnings growth and a long record of dividend increases, currently yielding about 2.5%. [44]
- Balance sheet strength that supports ongoing dividends, buybacks and multi‑billion‑dollar acquisitions like Halda. [45]
- Valuation that’s reasonable rather than extreme, with P/E ratios in the high‑teens to around 20x in line with peers. [46]
For long‑term, income‑oriented investors, that combination still makes JNJ a core holding candidate in many diversified portfolios.
Reasons others may be cautious
- After a 44% year‑to‑date run, JNJ is trading near 52‑week highs and close to average analyst price targets, implying limited expected upside over the next 12 months based on current forecasts. [47]
- Talc litigation remains unresolved, with the risk of more large verdicts or a costly global settlement that could dent cash flow and sentiment. [48]
- Integration risks for recent acquisitions and uncertainty around the orthopedics spin‑off could create execution risk over the next two years. [49]
For traders, the short‑term risk/reward may look less compelling at current levels, especially with the stock already discounting a lot of good news. Longer‑term investors, however, may still view pullbacks — especially those driven by broader market volatility rather than JNJ‑specific problems — as opportunities to build positions gradually.
Bottom line
Going into November 22, 2025, Johnson & Johnson stock is trading near record highs, supported by strong earnings, a richer oncology pipeline and a coming dividend payout — but shadowed by ongoing talc litigation and fairly full near‑term valuations.
For now, JNJ looks more like a steady compounder and income name at a fair price than a deep‑value bargain. Investors following the stock should keep a close eye on the upcoming ex‑dividend date, talc settlement signals and updates on the Halda deal and the orthopedics spin‑off.
This article is for informational purposes only and does not constitute investment advice. Always do your own research or consult a licensed financial advisor before making investment decisions.
References
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