Johnson & Johnson Stock (JNJ) Slips After Record $1.5B Talc Verdict: News, Forecasts, and What to Watch Into 2026
Johnson & Johnson (NYSE: JNJ) ended Tuesday, December 23, 2025, in the spotlight for reasons that cut both ways for investors: a headline-grabbing talc-related jury verdict that revived long-running legal risk concerns—and a steady drumbeat of regulatory and product updates that reinforce the company’s growth narrative across Innovative Medicine and MedTech.
In late trading on Dec. 23, JNJ traded around $205.43, down about 0.9% on the day, after touching an intraday range roughly between $203.41 and $207.23.
Below is a comprehensive roundup of the most relevant news, forecasts, and analyst views circulating on 23.12.2025, plus the catalysts most likely to steer Johnson & Johnson stock into the January earnings report and beyond.
Why JNJ stock is moving today
The dominant driver on Dec. 23 was legal news:
- A Baltimore jury ordered Johnson & Johnson and related entities to pay more than $1.5 billion to a plaintiff who alleged asbestos exposure from talc-based products caused her cancer, according to reporting that described it as the largest single-plaintiff award in this litigation track. 1
- Market coverage during the session pointed to JNJ shares sliding after the verdict, even as broader U.S. indexes finished modestly higher. 2
But the same week’s news flow also included multiple items that long-term J&J investors track closely—drug approvals, MedTech momentum, and a clear calendar marker for the next earnings event.
The talc litigation headline: what happened, and why it matters to investors
According to Reuters, the Dec. 23 story centers on a Circuit Court for Baltimore City verdict involving plaintiff Cherie Craft, with damages described as roughly $59.84 million compensatory plus $1.5 billion punitive (including punitive amounts split across J&J and a subsidiary). Johnson & Johnson said it will appeal, disputing the verdict and continuing to maintain its talc products were safe. 1
Two context points are especially relevant for JNJ stockholders:
- Scale of the overhang: Reuters reported the company faces more than 67,000 talc-related lawsuits. 1
- Not the first recent verdict: In the past two weeks alone, additional talc verdicts have surfaced, including a $65.5 million award in Minnesota and a $40 million award in Los Angeles reported by the Associated Press. 3
For the stock, days like this typically amplify a familiar debate:
- Bears focus on tail risk (large verdicts, appeal uncertainty, and the possibility of more plaintiff wins).
- Bulls argue that appeals, reductions, and case-by-case outcomes often mean headline verdicts don’t translate 1:1 into long-term cash costs—while J&J’s operating businesses continue producing substantial cash flow.
New policy risk in the mix: Supreme Court petition over Medicare drug price negotiations
Adding a second “legal/policy” thread on Dec. 23, Bloomberg Law reported that Johnson & Johnson and Bristol Myers Squibb urged the U.S. Supreme Court to review challenges tied to the Inflation Reduction Act’s Medicare Drug Price Negotiation Program, after a federal appeals court ruling earlier in 2025 went against the companies’ arguments. 4
Why that matters for JNJ stock:
- Medicare drug price negotiation is widely viewed as a structural headwind for parts of Big Pharma.
- Supreme Court involvement can extend timelines and uncertainty, creating another factor investors may ask about on the next earnings call.
Growth catalysts that are helping offset the headline risk
Even as litigation grabbed the day’s attention, J&J has had a busy December on the product/regulatory front—often the type of news that supports longer-term valuation.
FDA approval: Rybrevant Faspro (subcutaneous amivantamab) expands flexibility in lung cancer treatment
The FDA posted that it approved amivantamab and hyaluronidase-lpuj (Rybrevant Faspro) for subcutaneous injection across indications already approved for IV amivantamab (Rybrevant). U.S. Food and Drug Administration
Johnson & Johnson described the approval as enabling a shorter administration experience and tied it to its first-line combination regimen messaging. 5
Investor takeaway: Approvals that improve convenience and delivery can be commercially meaningful—especially in competitive oncology markets where adoption and workflow matter.
FDA “National Priority Voucher” pilot: Tecvayli + Darzalex combination
Reuters reported that the FDA granted a National Priority Voucher to J&J’s Tecvayli in combination with Darzalex, describing the program’s aim to accelerate reviews of drugs important to public health or national security. Reuters
J&J also highlighted the voucher selection in its own communications. 6
Investor takeaway: While not the same as a new indication approval, it underscores J&J’s continuing push in hematologic malignancies and can support sentiment around the oncology portfolio.
MedTech: TRUFILL n‑BCA expanded indication for chronic subdural hematoma
J&J announced FDA approval for an expanded indication for TRUFILL n‑BCA Liquid Embolic System for treatment of symptomatic subacute and chronic subdural hematoma as an adjunct to surgery. 7
Investor takeaway: MedTech growth often acts as ballast when pharma headlines swing, and neurovascular/cardiovascular themes have been central to many large-cap MedTech narratives in 2025.
Europe: Tremfya pediatric plaque psoriasis nod
J&J said the European Commission extended authorization for Tremfya (guselkumab) to treat moderate-to-severe plaque psoriasis in children and adolescents from age 6 who are candidates for systemic therapy, citing Phase 3 PROTOSTAR support and describing it as a first pediatric indication for an IL‑23 inhibitor. 8
Investor takeaway: Immunology breadth matters for durable growth, especially as mature products face competitive pressure.
MedTech ecosystem-building: Heart Rhythm Society registry for pulsed field ablation (PFA)
Johnson & Johnson MedTech said it is sponsoring a Heart Rhythm Society data platform to capture real-world evidence for pulsed field ablation (PFA) procedures used to treat atrial fibrillation. 9
Investor takeaway: In fast-evolving procedure categories (like AFib ablation), real-world evidence efforts can shape adoption, reimbursement, and competitive differentiation over time.
The strategic backdrop: J&J’s planned orthopedics separation and focus shift
While not “today’s” breaking news, it remains a key pillar in how analysts frame JNJ’s next chapter.
Reuters previously reported that Johnson & Johnson plans to spin off its orthopedics business into a standalone entity (named DePuy Synthes) within 18 to 24 months, aligning with its strategy to focus on faster-growing, higher-margin areas. In the same report, J&J raised its 2025 product revenue forecast and reported Q3 results that beat expectations. 10
Investor takeaway: Portfolio reshaping can unlock valuation rerating—but it also adds execution risk, timelines, and potential tax/structuring complexity.
Next major catalyst: Johnson & Johnson earnings on January 21, 2026
J&J announced it will host its fourth-quarter results conference call at 8:30 a.m. ET on Wednesday, January 21. JNJ.com
Nasdaq also lists Jan. 21, 2026 as the expected earnings report date for the quarter ending December 2025. 11
What investors will likely listen for
Based on today’s headlines and December’s updates, expect questions around:
- Talc litigation trajectory (appeals strategy, risk framing, and any settlement posture changes). 1
- Drug pricing policy risk (especially after the Supreme Court petition news). 4
- Commercial read-through from recent approvals (Rybrevant Faspro, AKEEGA expansion, MedTech indications). 12
- Orthopedics separation execution and what it means for 2026–2027 growth/earnings power. 10
Wall Street forecasts for JNJ stock: price targets and earnings expectations
Price targets: upside looks modest on average, but the range is wide
Across widely cited consensus snapshots, analysts generally cluster near “low-single-digit” upside from the current quote, but with a meaningful spread:
- MarketBeat’s summary shows an average target around $210.25, with targets ranging from $153 to $240. 13
- A recent Barchart roundup cited an average target around $211.12, with a “street-high” $240 target implying notably higher upside than the average. 14
In other words: the consensus case looks conservative, while the bull case depends on execution and the market’s willingness to look through legal noise.
Recent analyst actions (December 2025)
A few notable examples frequently referenced in market roundups:
- RBC raised its price target to $230 (from $209) while keeping an “Outperform,” citing an investor visit and pointing to clinical/program updates in its reasoning. 15
- Morgan Stanley raised its target to $197 while maintaining an Equal Weight stance, per TipRanks’ summary of “The Fly” note. 16
- Market coverage also highlighted target changes from other banks in mid-December (including Bank of America moving its target higher while keeping a neutral rating). 17
Earnings outlook: modest growth priced like a “defensive compounder”
One widely circulated preview pegged fiscal 2025 EPS around $10.87 and fiscal 2026 EPS around $11.49, implying mid-single-digit growth into next year. 18
Investor takeaway: In many models, JNJ is treated less like a high-beta growth stock and more like a “quality + durability” compounder—so incremental EPS growth, litigation clarity, and capital returns can matter more than hype-driven catalysts.
Dividend watch: what income investors are getting right now
Johnson & Johnson remains a staple for dividend-focused portfolios, and the company continues to lean into that identity.
- J&J declared a $1.30 quarterly dividend for Q4 2025, payable December 9, 2025, with an ex-dividend date of November 25, 2025. 19
- Dividend data aggregators put JNJ’s dividend yield at roughly ~2.5% in late December 2025 (depending on the day’s price). 20
- The company highlights 60+ consecutive years of dividend increases on its investor site. 21
Investor takeaway: For many holders, the dividend is the “hold through volatility” feature—especially during litigation-driven drawdowns.
What to watch next for Johnson & Johnson stock
If you’re tracking JNJ into early 2026, these are the key swing factors that could matter most:
- Talc litigation updates: verdict appeals, potential reductions, and whether courts deliver a clearer path to finality. 1
- Medicare drug pricing litigation/policy: whether the Supreme Court takes up the challenge, and how investors re-price pharma policy risk. 4
- Commercial execution after approvals: especially Rybrevant Faspro’s rollout and other oncology/immunology momentum signals. 12
- January 21 earnings: guidance, litigation framing, and any updated view on portfolio moves (including the orthopedics separation plan). 22
Johnson & Johnson stock has long traded on a “trust premium”—steady cash flows, medical innovation breadth, and shareholder returns. On Dec. 23, 2025, investors were reminded that the discount applied to that premium can widen quickly when major legal headlines hit. Whether it narrows again will likely depend on progress toward litigation clarity and continued delivery from the pipeline and MedTech franchises.Johnson & Johnson (NYSE: JNJ) ended Tuesday, December 23, 2025, in the spotlight for reasons that cut both ways for investors: a headline-grabbing talc-related jury verdict that revived long-running legal risk concerns—and a steady drumbeat of regulatory and product updates that reinforce the company’s growth narrative across Innovative Medicine and MedTech.
In late trading on Dec. 23, JNJ traded around $205.43, down about 0.9% on the day, after touching an intraday range roughly between $203.41 and $207.23.
Below is a comprehensive roundup of the most relevant news, forecasts, and analyst views circulating on 23.12.2025, plus the catalysts most likely to steer Johnson & Johnson stock into the January earnings report and beyond.
Why JNJ stock is moving today
The dominant driver on Dec. 23 was legal news:
- A Baltimore jury ordered Johnson & Johnson and related entities to pay more than $1.5 billion to a plaintiff who alleged asbestos exposure from talc-based products caused her cancer, according to reporting that described it as the largest single-plaintiff award in this litigation track. 1
- Market coverage during the session pointed to JNJ shares sliding after the verdict, even as broader U.S. indexes finished modestly higher. 2
But the same week’s news flow also included multiple items that long-term J&J investors track closely—drug approvals, MedTech momentum, and a clear calendar marker for the next earnings event.
The talc litigation headline: what happened, and why it matters to investors
According to Reuters, the Dec. 23 story centers on a Circuit Court for Baltimore City verdict involving plaintiff Cherie Craft, with damages described as roughly $59.84 million compensatory plus $1.5 billion punitive (including punitive amounts split across J&J and a subsidiary). Johnson & Johnson said it will appeal, disputing the verdict and continuing to maintain its talc products were safe. 1
Two context points are especially relevant for JNJ stockholders:
- Scale of the overhang: Reuters reported the company faces more than 67,000 talc-related lawsuits. 1
- Not the first recent verdict: In the past two weeks alone, additional talc verdicts have surfaced, including a $65.5 million award in Minnesota and a $40 million award in Los Angeles reported by the Associated Press. 3
For the stock, days like this typically amplify a familiar debate:
- Bears focus on tail risk (large verdicts, appeal uncertainty, and the possibility of more plaintiff wins).
- Bulls argue that appeals, reductions, and case-by-case outcomes often mean headline verdicts don’t translate 1:1 into long-term cash costs—while J&J’s operating businesses continue producing substantial cash flow.
New policy risk in the mix: Supreme Court petition over Medicare drug price negotiations
Adding a second “legal/policy” thread on Dec. 23, Bloomberg Law reported that Johnson & Johnson and Bristol Myers Squibb urged the U.S. Supreme Court to review challenges tied to the Inflation Reduction Act’s Medicare Drug Price Negotiation Program, after a federal appeals court ruling earlier in 2025 went against the companies’ arguments. 4
Why that matters for JNJ stock:
- Medicare drug price negotiation is widely viewed as a structural headwind for parts of Big Pharma.
- Supreme Court involvement can extend timelines and uncertainty, creating another factor investors may ask about on the next earnings call.
Growth catalysts that are helping offset the headline risk
Even as litigation grabbed the day’s attention, J&J has had a busy December on the product/regulatory front—often the type of news that supports longer-term valuation.
FDA approval: Rybrevant Faspro (subcutaneous amivantamab) expands flexibility in lung cancer treatment
The FDA posted that it approved amivantamab and hyaluronidase-lpuj (Rybrevant Faspro) for subcutaneous injection across indications already approved for IV amivantamab (Rybrevant). U.S. Food and Drug Administration
Johnson & Johnson described the approval as enabling a shorter administration experience and tied it to its first-line combination regimen messaging. 5
Investor takeaway: Approvals that improve convenience and delivery can be commercially meaningful—especially in competitive oncology markets where adoption and workflow matter.
FDA “National Priority Voucher” pilot: Tecvayli + Darzalex combination
Reuters reported that the FDA granted a National Priority Voucher to J&J’s Tecvayli in combination with Darzalex, describing the program’s aim to accelerate reviews of drugs important to public health or national security. Reuters
J&J also highlighted the voucher selection in its own communications. 6
Investor takeaway: While not the same as a new indication approval, it underscores J&J’s continuing push in hematologic malignancies and can support sentiment around the oncology portfolio.
MedTech: TRUFILL n‑BCA expanded indication for chronic subdural hematoma
J&J announced FDA approval for an expanded indication for TRUFILL n‑BCA Liquid Embolic System for treatment of symptomatic subacute and chronic subdural hematoma as an adjunct to surgery. 7
Investor takeaway: MedTech growth often acts as ballast when pharma headlines swing, and neurovascular/cardiovascular themes have been central to many large-cap MedTech narratives in 2025.
Europe: Tremfya pediatric plaque psoriasis nod
J&J said the European Commission extended authorization for Tremfya (guselkumab) to treat moderate-to-severe plaque psoriasis in children and adolescents from age 6 who are candidates for systemic therapy, citing Phase 3 PROTOSTAR support and describing it as a first pediatric indication for an IL‑23 inhibitor. 8
Investor takeaway: Immunology breadth matters for durable growth, especially as mature products face competitive pressure.
MedTech ecosystem-building: Heart Rhythm Society registry for pulsed field ablation (PFA)
Johnson & Johnson MedTech said it is sponsoring a Heart Rhythm Society data platform to capture real-world evidence for pulsed field ablation (PFA) procedures used to treat atrial fibrillation. 9
Investor takeaway: In fast-evolving procedure categories (like AFib ablation), real-world evidence efforts can shape adoption, reimbursement, and competitive differentiation over time.
The strategic backdrop: J&J’s planned orthopedics separation and focus shift
While not “today’s” breaking news, it remains a key pillar in how analysts frame JNJ’s next chapter.
Reuters previously reported that Johnson & Johnson plans to spin off its orthopedics business into a standalone entity (named DePuy Synthes) within 18 to 24 months, aligning with its strategy to focus on faster-growing, higher-margin areas. In the same report, J&J raised its 2025 product revenue forecast and reported Q3 results that beat expectations. 10
Investor takeaway: Portfolio reshaping can unlock valuation rerating—but it also adds execution risk, timelines, and potential tax/structuring complexity.
Next major catalyst: Johnson & Johnson earnings on January 21, 2026
J&J announced it will host its fourth-quarter results conference call at 8:30 a.m. ET on Wednesday, January 21. JNJ.com
Nasdaq also lists Jan. 21, 2026 as the expected earnings report date for the quarter ending December 2025. 11
What investors will likely listen for
Based on today’s headlines and December’s updates, expect questions around:
- Talc litigation trajectory (appeals strategy, risk framing, and any settlement posture changes). 1
- Drug pricing policy risk (especially after the Supreme Court petition news). 4
- Commercial read-through from recent approvals (Rybrevant Faspro, AKEEGA expansion, MedTech indications). 12
- Orthopedics separation execution and what it means for 2026–2027 growth/earnings power. 10
Wall Street forecasts for JNJ stock: price targets and earnings expectations
Price targets: upside looks modest on average, but the range is wide
Across widely cited consensus snapshots, analysts generally cluster near “low-single-digit” upside from the current quote, but with a meaningful spread:
- MarketBeat’s summary shows an average target around $210.25, with targets ranging from $153 to $240. 13
- A recent Barchart roundup cited an average target around $211.12, with a “street-high” $240 target implying notably higher upside than the average. 14
In other words: the consensus case looks conservative, while the bull case depends on execution and the market’s willingness to look through legal noise.
Recent analyst actions (December 2025)
A few notable examples frequently referenced in market roundups:
- RBC raised its price target to $230 (from $209) while keeping an “Outperform,” citing an investor visit and pointing to clinical/program updates in its reasoning. 15
- Morgan Stanley raised its target to $197 while maintaining an Equal Weight stance, per TipRanks’ summary of “The Fly” note. 16
- Market coverage also highlighted target changes from other banks in mid-December (including Bank of America moving its target higher while keeping a neutral rating). 17
Earnings outlook: modest growth priced like a “defensive compounder”
One widely circulated preview pegged fiscal 2025 EPS around $10.87 and fiscal 2026 EPS around $11.49, implying mid-single-digit growth into next year. 18
Investor takeaway: In many models, JNJ is treated less like a high-beta growth stock and more like a “quality + durability” compounder—so incremental EPS growth, litigation clarity, and capital returns can matter more than hype-driven catalysts.
Dividend watch: what income investors are getting right now
Johnson & Johnson remains a staple for dividend-focused portfolios, and the company continues to lean into that identity.
- J&J declared a $1.30 quarterly dividend for Q4 2025, payable December 9, 2025, with an ex-dividend date of November 25, 2025. 19
- Dividend data aggregators put JNJ’s dividend yield at roughly ~2.5% in late December 2025 (depending on the day’s price). 20
- The company highlights 60+ consecutive years of dividend increases on its investor site. 21
Investor takeaway: For many holders, the dividend is the “hold through volatility” feature—especially during litigation-driven drawdowns.
What to watch next for Johnson & Johnson stock
If you’re tracking JNJ into early 2026, these are the key swing factors that could matter most:
- Talc litigation updates: verdict appeals, potential reductions, and whether courts deliver a clearer path to finality. 1
- Medicare drug pricing litigation/policy: whether the Supreme Court takes up the challenge, and how investors re-price pharma policy risk. 4
- Commercial execution after approvals: especially Rybrevant Faspro’s rollout and other oncology/immunology momentum signals. 12
- January 21 earnings: guidance, litigation framing, and any updated view on portfolio moves (including the orthopedics separation plan). 22
Johnson & Johnson stock has long traded on a “trust premium”—steady cash flows, medical innovation breadth, and shareholder returns. On Dec. 23, 2025, investors were reminded that the discount applied to that premium can widen quickly when major legal headlines hit. Whether it narrows again will likely depend on progress toward litigation clarity and continued delivery from the pipeline and MedTech franchises.
