Johnson & Johnson (NYSE: JNJ) stock has surged in 2025 and is now trading close to record highs, while Wall Street remains broadly positive but increasingly divided on just how much upside is left from here. As of December 5, 2025, investors are digesting a fresh analyst upgrade, a wave of institutional buying, and robust earnings – all against a backdrop of ongoing litigation and a major planned spinoff.
Below is a structured look at Johnson & Johnson’s latest stock price, news, forecasts and fundamental drivers as of December 5, 2025.
Key Takeaways
- JNJ has rallied roughly 40% year‑to‑date in 2025, recently closing around $201–202 per share after touching record highs near $207 at the end of November. [1]
- Guggenheim raised its price target to $227 and reiterated a Buy rating on December 5, one of the more bullish calls on the stock. [2]
- Multiple large institutions increased their JNJ stakes in Q2, including Marshall Wace (up 73.5%), SCS Capital (+207.1%) and Epoch Investment Partners (+4.6%), while Brown Advisory made a modest trim; around 69–70% of shares are held by institutions. [3]
- Q3 2025 sales grew 6.8% to about $24.0 billion, with adjusted EPS up 15.7% to $2.80, prompting management to raise full‑year 2025 sales guidance to roughly $93.7 billion and reaffirm adjusted EPS guidance around $10.85 at the midpoint. [4]
- Consensus 12‑month price targets cluster around $200–207, implying little near‑term upside from current levels, even as some valuation models (such as Simply Wall St’s DCF at ~$384 fair value) still flag the stock as undervalued long term. [5]
- JNJ remains a dividend powerhouse, paying a quarterly dividend of $1.30 per share ($5.20 annualized) with a yield around 2.5–2.6% and more than six decades of consecutive annual dividend increases. [6]
This article is for informational purposes only and does not constitute financial advice.
JNJ Stock Price and Performance as of December 5, 2025
Based on recent trading and historical price data, Johnson & Johnson shares:
- Closed around the low $200s on December 5, 2025 (roughly $201 per share), after a small pullback from late‑November highs. [7]
- Have rallied about 40.6% year‑to‑date, according to Simply Wall St, driven by strong earnings, guidance upgrades and a rotation into defensive healthcare names. [8]
- Trade at a trailing P/E ratio of about 19.5x, with a PEG ratio near 2.3 and a beta around 0.36, reflecting relatively low volatility compared with the wider market. [9]
- Sit between a 52‑week low of about $140.68 and a high near $207.81, with the 50‑day and 200‑day moving averages around $194 and $175 respectively – classic markers of a strong uptrend still intact. [10]
From a pure price‑action standpoint, JNJ looks like a fully recovered, near‑record‑high blue chip that has already repriced from the lows of 2023–2024 into a premium, quality‑compounder range.
Today’s Biggest Headlines (December 5, 2025)
1. Guggenheim Lifts JNJ Price Target to $227
On December 5, Guggenheim analyst Vamil Divan reaffirmed a Buy rating on Johnson & Johnson and raised the 12‑month price target from $206 to $227, an increase of just over 10%. [11]
GuruFocus’ summary of Wall Street data shows:
- Average target price: about $201.9
- Range:$170 (low) to $230 (high)
- Consensus recommendation: around 2.3 on a 1–5 scale, equivalent to “Outperform” / Moderate Buy
[12]
Guggenheim’s new $227 target sits well above the Street average and about 10–12% above current trading levels, putting it in the bullish camp that sees further upside from pipeline progress, MedTech strength and the planned orthopedics spin‑off.
2. Fresh Institutional Activity: Big Buyers and a Small Trim
A string of 13F‑based reports published on December 5 highlight a wave of institutional repositioning in JNJ: [13]
- Marshall Wace LLP
- Boosted its stake by 73.5% in Q2, adding about 670,669 shares to reach roughly 1.58 million shares (~0.07% of J&J), worth around $242 million.
- SCS Capital Management
- Increased its JNJ position by 207.1%, buying roughly 115,759 shares to hold about 171,664 shares valued at $26 million.
- Epoch Investment Partners
- Expanded its stake by 4.6% to 493,373 shares, worth approximately $75 million.
- Brown Advisory
- Trimmed holdings by 1.3%, selling around 12,478 shares but still owning 963,903 shares (~$147 million).
Across these filings, MarketBeat notes that roughly 69.5% of JNJ’s float is owned by institutions and hedge funds, underscoring its status as a core institutional holding. [14]
3. Valuation Spotlight: “Is It Too Late After a 40.6% Rally?”
A new Simply Wall St article dated December 5 asks whether it is “too late” to consider JNJ after its big 2025 run – and comes down firmly on the “still undervalued” side. Key points from that analysis include: [15]
- JNJ closed recently around $202.48, up 8.4% over the past month and 40.6% year‑to‑date, even after a roughly 2.4% pullback in the last week.
- A DCF model based on free cash flow growing from about $19.5 billion to ~$48 billion by 2035 yields an intrinsic value near $384 per share – about 47.3% above current prices.
- On a P/E basis, JNJ trades near 19.4x, roughly in line with the broader pharma industry and below a peer‑group “fair” multiple around 29.6x in their framework.
Simply Wall St therefore classifies JNJ as “UNDERVALUE D” on both DCF and P/E checks, despite the strong rally.
At the same time, GuruFocus’ own GF Value model pegs fair value closer to $191.50, implying modest downside from around $202, while the aggregated analyst target of roughly $201–207 suggests the stock is near fair value in the 12‑month view. [16]
Fundamentals: Q3 2025 Earnings and 2025 Guidance
On October 14, 2025, Johnson & Johnson reported strong Q3 2025 results and raised its full‑year outlook. Highlights from the company’s official release: [17]
- Q3 2025 Revenue:
- $23.99–24.0 billion, up 6.8% reported year‑over‑year.
- GAAP EPS:
- $2.12, up about 91% versus Q3 2024 (helped by an easier comparison).
- Adjusted EPS:
- $2.80, up 15.7%, beating consensus by roughly $0.04 per share.
- Segment performance:
- Innovative Medicine revenue: ~$15.6 billion, up 6.8% reported, driven by oncology (DARZALEX, CARVYKTI, RYBREVANT/LAZCLUZE), immunology (TREMFYA, SIMPONI) and neuroscience (SPRAVATO), partly offset by the impact of Stelara loss of exclusivity. [18]
- MedTech revenue: ~$8.4 billion, also up about 6.8%, led by electrophysiology devices, Abiomed and Shockwave in cardiovascular, surgical wound closure and surgical vision products. [19]
Guidance for full‑year 2025 (updated in October):
- Reported sales: about $93.5–93.9 billion, implying 5.4–5.9% growth, midpoint ~$93.7B. [20]
- Adjusted EPS: midpoint around $10.85, with many data providers showing consensus full‑year EPS in the $10.8–10.9 range. [21]
MarketBeat and other aggregators estimate that earnings could grow to roughly $11.0–11.1 per share in 2026, implying mid‑single‑digit EPS growth on top of mid‑single‑digit revenue growth. [22]
JNJ has beaten consensus estimates in each of the last several quarters (Q1, Q2 and Q3 2025), signaling solid execution across both drugs and devices. [23]
Dividend Profile: A Classic “Dependable Payer”
For income‑oriented investors, the dividend remains a central part of the JNJ story:
- The board declared a Q4 2025 dividend of $1.30 per share, payable December 9, 2025 to shareholders of record as of November 25, 2025. [24]
- This equates to an annual dividend of $5.20 per share, giving a yield of about 2.5–2.6% at recent prices. [25]
- The payout ratio is around 49–50% of earnings, leaving ample room for reinvestment and continued dividend growth. [26]
- JNJ has raised its dividend every year for more than six decades (often cited as 60+ years; recent data services show around 63 consecutive years of increases), placing it firmly in “Dividend King” territory. [27]
Coupled with a strong balance sheet – debt‑to‑equity near 0.5, current ratio about 1.07, quick ratio roughly 0.80 – JNJ continues to look like a defensive dividend compounder rather than a high‑beta growth story. [28]
Strategic Moves: Spinoffs, Investments and Pipeline
Orthopedics Spin‑Off: DePuy Synthes
In October, Johnson & Johnson announced plans to separate its orthopedics business into a standalone company within the next 18–24 months, to be named DePuy Synthes. [29]
Key details from Reuters and company commentary:
- The orthopedics unit generates around $9.2 billion in annual sales, roughly 10% of J&J’s total revenue and about 30% of its MedTech segment. [30]
- Management argues that shedding slower‑growing orthopedics should tilt the remaining JNJ toward faster‑growth, higher‑margin areas such as oncology, immunology, neuroscience, cardiovascular devices, surgery and vision. [31]
- Analysts broadly see the move as a way to accelerate JNJ’s growth profile, although some investors worry about the execution risk of carving out a large, profitable business. [32]
This spin‑off follows the 2023 separation of JNJ’s consumer health business into Kenvue, continuing a trend of focusing the company around Innovative Medicine and MedTech. [33]
Product Pipeline and Approvals
JNJ’s 2025 news flow has included a steady cadence of drug approvals, label expansions and key clinical data, especially in oncology and immunology: [34]
- Approvals and major data in 2025 for products such as:
- INLEXZO (gemcitabine intravesical system) for high‑risk non‑muscle invasive bladder cancer.
- TREMFYA subcutaneous formulation for ulcerative colitis and pediatric expansions in psoriasis and psoriatic arthritis.
- DARZALEX FASPRO (and combinations like TECVAYLI + DARZALEX) in multiple myeloma and high‑risk smoldering multiple myeloma.
- Caplyta (lumateperone) in neuropsychiatric indications.
- A series of positive Phase 2 and Phase 3 readouts (e.g., MARIPOSA, ICONIC‑ADVANCE and ICONIC‑TOTAL) in lung cancer and inflammatory diseases.
- An announced $3 billion acquisition of Halda Therapeutics and a nearly $15 billion acquisition of Intra‑Cellular Therapies, further bolstering its neuroscience and oncology franchises. [35]
In short, JNJ is actively reinvesting its cash flows into high‑value late‑stage assets, reinforcing the long‑term earnings power underpinning the stock.
Capital Investments and Manufacturing
On the industrial side, Johnson & Johnson has also committed to over $55 billion in U.S. investment over the next four years, including four new manufacturing facilities and expansions of existing sites, according to Reuters and AP reports earlier this year. [36]
The first of these plants, in Wilson, North Carolina, will support production of treatments for cancer, immune‑mediated and neurological diseases – directly tied to its Innovative Medicine growth priorities.
Key Risks: Litigation, Regulation and Valuation
Even for a defensive blue chip, investors in JNJ face real risks that can impact both sentiment and fundamentals:
- Talc Litigation and Legal Overhang
- In April 2025, a U.S. bankruptcy judge reportedly rejected a proposed ~$10 billion talc settlement, forcing J&J to continue fighting cases in regular courts rather than through a bankruptcy channel. TechStock²+1
- Tens of thousands of talc‑related claims remain outstanding. Outcomes here could influence future cash outflows and investor perception, even if JNJ maintains that its products are safe.
- Device and Product‑Specific Risks
- In September, J&J decided to withdraw the LINX Reflux Management System, an acid‑reflux treatment device, from certain markets outside the U.S. for commercial reasons (not safety), highlighting the ongoing portfolio optimization in MedTech. [37]
- Spin‑Off Execution Risk
- The DePuy Synthes spin‑off will be complex. Investors will watch capital structure, any debt transfer, and whether the separation truly boosts growth and margins in the remaining JNJ operations. Poor execution could weigh on sentiment in 2026–2027. [38]
- Macro and Policy Headwinds
- As a global healthcare leader, JNJ is exposed to drug‑pricing reforms, reimbursement pressures, FX volatility and trade policy shifts (including potential tariffs on pharmaceutical imports). Management has previously flagged hundreds of millions of dollars in tariff‑related costs for 2025 alone. [39]
- Valuation After a Big Run
- While some DCF models argue the stock is materially undervalued, most 12‑month price targets hover around the current share price, and metrics like the PEG ratio above 2 suggest JNJ is priced like a high‑quality defensive compounder, not a bargain turnaround. MarketWatch+4TechStock²+4Simply Wall St+4
Analyst Forecasts and 2026 Outlook
Pulling together data from MarketBeat, TradingView, GuruFocus and other aggregators: [40]
- Consensus rating:
- Typically “Moderate Buy” or “Outperform”, with no major Sell calls from mainstream brokers.
- Average 12‑month price target:
- Roughly $200–207, depending on the provider.
- High end: $227–230 (Guggenheim and other bullish analysts).
- Low end: $170–180 at the more cautious houses.
- Earnings expectations:
- 2025 EPS: around $10.8–10.9, in line with J&J’s own adjusted EPS guidance.
- 2026 EPS: around $11.0–11.1, implying low‑ to mid‑single‑digit growth.
- Revenue expectations:
- 2025 revenue: around $93.5–94+ billion, ~5–7% growth versus 2024.
- 2026 revenue: often modeled near $99–100 billion, continuing the mid‑single‑digit trajectory.
Taken together, most analysts appear to view JNJ as a steady “earnings + dividend” compounder where:
- Total return over the next few years is likely to come from 2.5–3% dividend yield plus mid‑single‑digit EPS growth,
- With limited multiple expansion expected at today’s valuation, unless litigation risks resolve more favorably or the orthopedics spin‑off unlocks more value than anticipated.
What This Means for Investors
For investors looking at Johnson & Johnson stock on December 5, 2025, the picture is nuanced:
- Bullish arguments focus on:
- Consistent earnings beats and upgraded 2025 guidance. [41]
- A deep and productive pipeline in oncology, immunology and neuroscience. [42]
- A rock‑solid balance sheet and one of the most enviable dividend track records in the market. [43]
- Institutional support and fresh analyst upgrades like Guggenheim’s $227 target.
- Cautious or bearish views emphasize:
- The 40%+ year‑to‑date rally, which already prices in a lot of good news. [44]
- Talc and other legal risks, which remain significant and unpredictable. TechStock²+1
- The possibility that JNJ is now fairly valued or slightly overvalued on shorter‑term metrics despite optimistic long‑term DCF models. [45]
For long‑term, diversified portfolios, JNJ is still widely viewed as a core defensive holding rather than a speculative trade. However, whether to add, hold or wait depends heavily on individual risk tolerance, time horizon and view on litigation and spin‑off execution.
Important: This article does not constitute investment advice or a recommendation to buy or sell any security. Always consider your own objectives and constraints, and consult a qualified financial advisor before making investment decisions.
References
1. simplywall.st, 2. www.quiverquant.com, 3. www.marketbeat.com, 4. www.investor.jnj.com, 5. www.gurufocus.com, 6. www.investor.jnj.com, 7. stockanalysis.com, 8. simplywall.st, 9. www.marketbeat.com, 10. www.marketbeat.com, 11. www.gurufocus.com, 12. www.gurufocus.com, 13. www.marketbeat.com, 14. www.marketbeat.com, 15. simplywall.st, 16. www.gurufocus.com, 17. www.investor.jnj.com, 18. www.investor.jnj.com, 19. www.investor.jnj.com, 20. www.investor.jnj.com, 21. www.marketbeat.com, 22. www.marketbeat.com, 23. www.marketbeat.com, 24. www.investor.jnj.com, 25. www.koyfin.com, 26. www.koyfin.com, 27. www.dividend.com, 28. www.marketbeat.com, 29. www.reuters.com, 30. www.reuters.com, 31. www.reuters.com, 32. www.reuters.com, 33. www.gurufocus.com, 34. www.jnj.com, 35. www.investopedia.com, 36. www.reuters.com, 37. www.reuters.com, 38. www.reuters.com, 39. www.investopedia.com, 40. www.marketbeat.com, 41. www.marketbeat.com, 42. www.jnj.com, 43. www.koyfin.com, 44. simplywall.st, 45. www.gurufocus.com
