Johnson & Johnson (JNJ) Stock After Hours on December 9, 2025: New Cancer Breakthrough, Dividend Payout and What to Watch Before the December 10 Open

Key Takeaways

Price action: Johnson & Johnson stock (NYSE: JNJ) closed just under $200 per share on Tuesday, December 9, 2025, down about 0.8% on the day, after trading as high as roughly $205.50 intraday. Extended-hours trading kept the stock almost flat around that level. ^[1]
Trend: Despite the pullback, JNJ is still up close to 40% year-to-date in 2025 and sits not far below its 52‑week high near $208, with a 52‑week low around $141. TechStock²+1
New catalyst: After the bell, J&J released “unprecedented” Phase 3 MajesTEC‑3 data for its TECVAYLI® + DARZALEX FASPRO® combination in multiple myeloma, showing an 83% reduction in risk of progression or death vs. standard regimens and strong survival and response benefits. ^[2]
Dividend event: A $1.30 quarterly dividend per share (annualized $5.20, ~2.5–2.6% yield) was paid on December 9, extending J&J’s 63‑year dividend growth streak. ^[3]
Short‑term technical forecast: Technical service StockInvest expects JNJ to open around $201.80 on Wednesday, December 10, with an intraday range roughly $198.45–$203.47, and still labels the stock a “Buy or Hold candidate” in a strong rising trend. ^[4]
Street view: Analyst consensus remains “Moderate Buy”, with an average 12‑month price target around $203–207, implying low‑single‑digit upside from current levels, but some houses (e.g., Guggenheim) now see potential into the low‑$220s. ^[5]

Below, we’ll walk through what happened to Johnson & Johnson stock after the bell on December 9 and what investors should watch before the U.S. market opens on Wednesday, December 10, 2025.

1. How Johnson & Johnson Stock Traded on December 9, 2025

Regular session: hot open, cold close

On Tuesday, December 9, 2025, Johnson & Johnson shares:

Opened around $202.92
Traded as high as roughly $205.54
Dropped to an intraday low near $199.91
Closed at about $199.96, down 0.82% from the prior close near $201.62 ^[6]

Volume came in at roughly 5–7 million shares, around or slightly below JNJ’s recent average daily volume of ~6.8 million shares, suggesting a normal‑liquidity, mild risk‑off session rather than a panic move. ^[7]

Early in the day, JNJ actually helped lead the Dow higher; a MarketWatch intraday update noted Johnson & Johnson and Procter & Gamble among the largest positive contributors to a roughly 130‑point Dow rally, underscoring JNJ’s role as a stabilizing “steadiest of the blue chips” in today’s tape. TechStock²

As the session wore on, investors appeared to fade strength near recent highs, locking in some of 2025’s big gains ahead of important macro catalysts and fresh clinical data.

After-hours trading: quiet but steady

In extended trading, JNJ barely budged:

MarketBeat data shows JNJ at $199.99 at the close and $199.94 in extended hours as of ~7:05 p.m. ET, a tiny 0.02% slip. ^[8]

That tells you the headline flow after the close was interpreted as net balanced or modestly positive: no sudden shock, no big guidance cut, and no late‑breaking litigation bombshell.

2. The Big After‑Hours Story: MajesTEC‑3 Myeloma Data

The most important new fundamental catalyst hitting the tape on December 9 is J&J’s progress in relapsed/refractory multiple myeloma (RRMM).

What J&J announced

After the bell, J&J released detailed results from the Phase 3 MajesTEC‑3 trial, testing:

TECVAYLI® (teclistamab‑cqyv) +
DARZALEX FASPRO® (daratumumab and hyaluronidase‑fihj)

vs. standard regimens based on DARZALEX FASPRO plus dexamethasone and an immunomodulator (pomalidomide or bortezomib) in patients with RRMM who had received 1–3 prior lines of therapy. ^[9]

Key numbers from J&J’s press release and myeloma specialist coverage:

Progression‑free survival:
- 83% reduction in the risk of disease progression or death vs. standard regimens (hazard ratio 0.17; p<0.0001). ^[10]
Durability:
- 91% of patients progression‑free at six months remained progression‑free at three years. ^[11]
Response quality:
- Complete response (or better) in ~82% vs. ~32% in the control arm.
- Higher overall response rate and significantly higher minimal residual disease (MRD) negativity. ^[12]
Overall survival:
- Hazard ratio about 0.46, with three‑year overall survival of ~83% vs. 65% for standard regimens. ^[13]

The combination has already earned U.S. FDA Breakthrough Therapy Designation and is being reviewed under the Real‑Time Oncology Review (RTOR) program to accelerate a potential label expansion. ^[14]

Why it matters for the stock

Strengthens J&J’s oncology growth engine
J&J has been very explicit about chasing $50 billion in oncology sales by 2030, leaning heavily on multiple myeloma, lung cancer and prostate cancer franchises. Recent Zacks commentary notes that oncology is one of the main drivers behind the company’s raised 2025 sales outlook and mid‑teens adjusted EPS growth trajectory. ^[15]
Supports the “functional cure” narrative in myeloma
Coverage from specialist outlets at the ASH 2025 meeting frames the MajesTEC‑3 data as approaching “functional cure” territory for some patients, given the combination of long progression‑free survival and high MRD negativity rates. ^[16]
Addresses investor fears about portfolio cannibalization and competition
One nuance: J&J already co‑markets CARVYKTI, a CAR‑T therapy for multiple myeloma, and investors are sensitive to internal competition as well as rival CAR‑T and bispecific entrants. A GuruFocus note on December 9 argued that market worries are likely overdone, pointing out Carvykti’s strong efficacy and potential for use earlier in the treatment journey, alongside TECVAYLI‑based combinations rather than purely instead of them. ^[17]

Net‑net, the MajesTEC‑3 readout is a positive long‑term catalyst, even if the stock’s immediate reaction was muted in after‑hours trading.

3. Dividend Day and Income Appeal

Q4 2025 dividend hits accounts

December 9 wasn’t just a clinical‑data day — it was also payday:

Dividend amount: $1.30 per share
Ex‑dividend date: November 25, 2025
Payment date: December 9, 2025 ^[18]

At the ~$200 share price, that translates into:

Annual dividend: $5.20
Dividend yield: roughly 2.5–2.6% TechStock²+1

J&J has now:

Raised its dividend for 63 consecutive years, placing it firmly in Dividend King territory. ^[19]

Recent TradingView/ Invezz analysis of defensive stocks ahead of the Fed’s final 2025 rate decision highlighted Johnson & Johnson as a classic “anchor” holding, with a payout ratio around 50%, leaving ample room for future increases. ^[20]

What that means going into December 10

Because the stock went ex‑dividend in late November, today’s dividend is already reflected in the price. But the cash actually arriving in accounts on December 9 can still:

Encourage dividend reinvestment buy flows
Reinforce JNJ’s reputation as a steady income compounder, an attractive trait as investors brace for Fed communication and 2026 earnings uncertainty.

4. Fresh Forecasts and Analyses Dated December 9, 2025

Several new pieces of analysis and forecast data hit on December 9 that are directly relevant for JNJ holders going into tomorrow’s open.

4.1. TS2 Tech: “Q3 Beat, Orthopaedics Spin-Off and New Cancer Data”

A long-form breakdown on TechStock² (TS2) pulls together the day’s major themes:

JNJ trades around $201–202, valuing the company at roughly $485–486 billion. TechStock²+1
The stock is up nearly 40% in 2025, with about 14% of that gain in the last three months. TechStock²+1
The rally is attributed to:
- A clean Q3 2025 beat and higher full‑year sales guidance
- A surprise plan to spin off the DePuy Synthes orthopaedics business
- Strong data from oncology and MedTech assets
- Ongoing dividend growth, with the latest payout hitting accounts today TechStock²

TS2 also leans on technical work from StockInvest, noting:

JNJ closed at $201.62 on Monday, Dec. 8, has fallen in 6 of the last 10 sessions, yet remains in a “strong rising trend”.
StockInvest’s models project about 16% upside over the next three months, with a 90% probability band of $227–$245 by early March 2026, classifying JNJ as a “Buy or Hold” candidate. TechStock²+1

4.2. Simply Wall St: 40% rally but still “undervalued”

Simply Wall St published a December 9 note titled “Johnson & Johnson (JNJ): Is the 40% Year-to-Date Rally Just Catch-Up to Fair Value?”. The key points: ^[21]

JNJ has gained about 14% over the past month, ~40% year‑to‑date, and delivered ~56% total shareholder return over five years.
Their DCF‑based “narrative fair value” is just above the current price (~$202 vs. a ~$201.6 close), leading them to frame the 2025 surge as “only a partial re-rating” rather than an outright bubble.
The article flags talc litigation and loss‑of‑exclusivity (LOE) hits as the main risks that could derail that narrative.

In other words: even after a big run, some fundamental models still see room for upside, but the margin for error is thinner.

4.3. GuruFocus: MajesTEC‑3 reaction and valuation snapshot

GuruFocus published a December 9 stock alert, “Johnson & Johnson (JNJ) Faces Market Reaction to Majes-TEC-3 Data”, focusing on:

The competitive landscape in RRMM, where Carvykti and TECVAYLI‑based regimens both play key roles.
JNJ’s financial strength, highlighting:
- Revenue ~$92.1 billion, 3‑year growth ~7.5%
- Operating margin ~26%, net margin ~27%, ROE ~33%
- Solid liquidity and a debt‑to‑equity ratio around 0.58 ^[22]
Valuation markers:
- P/E ~19–20
- P/S ~5.3, near a 2‑year high
- P/B ~6.1, near a 3‑year high
An analyst target price around $203.44 and a “Buy” recommendation score, with institutional ownership ~75%, reinforcing the idea that big money is still comfortable with the risk/reward. ^[23]

4.4. Technical forecast: Wednesday’s opening script

StockInvest’s December 9 update provides a very specific trading roadmap for December 10:

Expected open: ~$201.80
Expected intraday move: roughly ±1.5% from Tuesday’s close, implying a probable trading band of $198.45–$203.47.
Near-term support: around $199.58–$198.32
Near-term resistance: around $200.00, then $203.90–$205.30. ^[24]

Their bottom line: several short‑term signals plus the broader uptrend leave them constructive in the short run, and they still classify JNJ as a “Buy candidate” at current levels. ^[25]

5. Fundamental Backdrop: Q3 Beat, Spin‑Off, and 2026 Outlook

Although Q3 results were released in October, they remain crucial for understanding why JNJ sits near an all‑time high heading into December 10.

Q3 2025: earnings beat and higher sales guidance

For Q3 2025, Johnson & Johnson reported: ^[26]

Revenue: about $24.0 billion, up 6.8% year‑on‑year
Adjusted EPS:$2.80, up ~15–16% and ahead of consensus (~$2.76)
GAAP EPS:$2.12, up about 91% vs. the prior year

Segment performance:

Innovative Medicine: about $15.6 billion, +6.8% reported, driven by oncology drugs such as DARZALEX, CARVYKTI, ERLEADA, RYBREVANT and immunology assets like TREMFYA.
MedTech: around $8.4 billion, also +6.8%, helped by cardiovascular and surgical products. ^[27]

Crucially, J&J raised its full‑year 2025 sales outlook to about $93.5–$93.9 billion, its third straight guidance increase this year, while maintaining adjusted EPS guidance around $10.80–$10.90. ^[28]

Orthopaedics spin‑off: DePuy Synthes

Alongside Q3, J&J announced it would spin off its orthopaedics business as a standalone company called DePuy Synthes, expected to close within 18–24 months (by 2027 at the latest). TechStock²+2Barron’s+2

Key facts:

DePuy Synthes generated about $9.2 billion of 2024 sales, roughly 10% of total company revenue. TechStock²+1
The move mirrors the earlier spin‑off of consumer health unit Kenvue, and is meant to sharpen J&J’s focus on higher‑growth pharma and MedTech.

Most Street commentary sees this as value‑unlocking over time, though in the near term it adds execution risk and could modestly complicate modeling around margins and capital allocation.

6. Street Consensus: Solid, Not Euphoric

Analyst ratings and price targets

As of December 9:

MarketBeat reports a “Moderate Buy” consensus based on 26 analyst ratings, with:
- 17 in the Buy/Strong Buy bucket
- 9 Holds
- 0 Sells
The average 12‑month target price is $203.15, only ~1.6% above Tuesday’s close, with a high target of $230 and a low around $153. ^[29]

Fintel, which blends Wall Street and quantitative forecasts, shows: ^[30]

An average one‑year target near $206.71, implying ~2–3% upside
A range of $171.70–$241.50, reinforcing that tail scenarios (both bullish and bearish) remain on the table.

Recent broker moves include:

Guggenheim raising its target from $206 to $227, citing J&J’s myeloma breakthroughs and oncology momentum. ^[31]
Barclays lifting its target and reiterating a bullish stance after revisiting estimates. ^[32]

Valuation and style scores

Zacks and Finviz data paint a picture of a quality compounder at a full but not extreme valuation: ^[33]

Trailing P/E: around 19–20x
Dividend yield: roughly 2.5–2.6%
Sales growth: mid‑single‑digit, with EPS growth outpacing revenue thanks to mix and margin improvement
JNJ often screens as both a “Strong Value” and a “Top‑Ranked Momentum” stock in Zacks Style Scores, which helps explain why both value and growth‑tilted funds have been adding to positions.

7. What to Watch Before the December 10, 2025 Market Open

Here’s a practical checklist for JNJ watchers heading into Wednesday’s U.S. session.

7.1. Pre‑market price vs. key technical levels

Based on StockInvest’s framework, the critical near‑term levels are: ^[34]

Expected open: around $201.80
Short‑term resistance:
- $200.00, then ~$203.90–$205.30
Short‑term support:
- ~$199.58, then ~$198.32

Things to watch in pre‑market:

If JNJ holds above $200 and futures are calm, bulls may try to reclaim the low‑$200s quickly.
A gap below $198 would signal more aggressive profit‑taking, potentially inviting momentum sellers to test the mid‑$190s.

7.2. Follow‑through commentary on MajesTEC‑3

Expect more:

Sell‑side notes digesting the MajesTEC‑3 data and updating oncology models
Comparisons vs. CAR‑T competitors and discussions about sequencing TECVAYLI + DARZALEX FASPRO vs. CARVYKTI in earlier lines of therapy

If early Wednesday research suggests:

Upside to myeloma peak‑sales estimates, that could support JNJ on any macro‑driven weakness.
Cannibalization concerns, that might cap near‑term upside even with strong data.

7.3. Macro backdrop: defensive rotation into Fed decision

A TradingView‑hosted Invezz piece highlights Johnson & Johnson, Coca‑Cola, Procter & Gamble and utilities as defensive stocks seeing renewed interest ahead of the Federal Reserve’s final 2025 policy decision, with markets heavily pricing in a rate cut but uncertain about the tone on future easing. ^[35]

That means:

If risk assets wobble on Fed messaging, defensive names like JNJ could see inflows, even at rich valuations.
Conversely, a “Goldilocks” message that delights growth and AI stocks could temporarily pull attention away from defensives, making JNJ more likely to trade sideways.

7.4. Ongoing risk factors

Even with all the good news, several risks remain front‑of‑mind for institutional investors:

Loss of exclusivity for STELARA and other key brands, pressuring immunology revenue. ^[36]
Talc and other litigation, which Simply Wall St and others highlight as potential overhangs on valuation multiples despite progress in settlements. ^[37]
Regulatory pricing pressure in the U.S. and Europe, including Medicare negotiations and changing Part D dynamics. ^[38]
Spin‑off execution risk around DePuy Synthes and integration of recent oncology acquisitions like Halda Therapeutics. ^[39]

For traders, any fresh headline touching these themes before the opening bell could be more important than the incremental tick in futures.

8. Bottom Line: How Does JNJ Look After the Bell?

Putting it all together:

Price & technicals: JNJ ended December 9 just under $200, a mild pullback within a strong 2025 uptrend, with technical models still pointing to double‑digit upside over the next few months — but not without volatility. ^[40]
Fundamentals: The company is coming off a Q3 beat, higher full‑year sales guidance, and a strategic orthopaedics spin‑off plan, supported by a deep oncology pipeline now boosted by MajesTEC‑3. ^[41]
Income case: A 63‑year dividend growth streak, 2.5–2.6% yield, and healthy payout ratio keep JNJ squarely in the core dividend‑growth bucket. ^[42]
Valuation: Most analysts and models see JNJ as fairly valued to modestly undervalued, with consensus price targets only a few percent above current levels, while more bullish frameworks (StockInvest, some DCF models) see teen‑level upside over the next year or so. ^[43]

For Wednesday’s open on December 10, 2025, the story is less about a dramatic overnight surprise and more about whether the market wants to keep rewarding a high‑quality, defensive winner after a 40% run:

Bulls will point to: exceptional myeloma data, rising oncology ambitions, a clean balance sheet, and decades of dividend reliability.
Bears and skeptics will focus on: high expectations already in the price, looming LOEs, litigation noise, and the risk that today’s growth narrative proves a bit too optimistic.

As always, any decision to trade or invest in JNJ should take into account your own time horizon, risk tolerance and portfolio mix. This article is for information and news purposes only and does not constitute financial advice or a recommendation to buy or sell any security.