U.S. markets reopen for a full session on Friday, Dec. 26, 2025, following the Christmas Day closure—after a holiday-shortened early close on Wednesday, Dec. 24. [1] For Johnson & Johnson (NYSE: JNJ) investors, the post-holiday open comes with a familiar mix of defensive-stock appeal and headline risk—especially around talc litigation, Washington drug-pricing pressure, and the company’s portfolio reshaping plans.
Below is a detailed, publication-ready rundown of the most important news, forecasts, and analysis to know before the bell.
JNJ stock snapshot heading into Friday’s open
Because U.S. markets were closed on Thursday, Dec. 25, the last meaningful pricing came from the Dec. 24 session (plus any after-hours prints).
- Last trade: about $207.78 (as of Dec. 24, 22:19 UTC)
- Previous close:$206.46 (implying roughly a +0.6% move to the last trade)
- Intraday range (Dec. 24):$205.43 – $207.92
- Volume (Dec. 24): about 2.38 million shares
Why this matters for Friday: Dec. 26 trading can be liquidity-thin (many desks are still lightly staffed), which can exaggerate moves in either direction—especially if legal or policy headlines hit premarket.
The biggest near-term driver: talc verdicts are back in the spotlight
If you only read one section before the open, make it this one.
A record $1.5B verdict in Baltimore (and an appeal coming)
On Dec. 23, Reuters reported a Baltimore jury ordered J&J and subsidiaries to pay more than $1.5 billion to a plaintiff who alleged her cancer was linked to talc-based baby powder contamination. J&J said it plans to appeal, calling the verdict “egregious” and “unconstitutional.” [2]
Reuters also noted J&J faces over 67,000 lawsuits tied to talc claims and has tried (unsuccessfully) to resolve the litigation via bankruptcy-related strategies. [3]
Minnesota jury awards $65.5M in another talc case
Just days earlier, AP reported a Minnesota jury awarded $65.5 million to a woman with mesothelioma who used J&J talcum powder. J&J again said it would appeal and continues to deny wrongdoing. [4]
Why investors care now (even though these cases are not “new”)
The immediate issue for JNJ stock isn’t that a single verdict changes the business fundamentals overnight. It’s that a cluster of verdict headlines near year-end can:
- increase uncertainty around the ultimate cost/timeline of resolving remaining claims,
- pressure valuation multiples (investors “discount” the stock more heavily when liabilities feel harder to bound), and
- raise the odds of more volatility around any future settlement framework.
Adding to that backdrop: in March 2025, a U.S. bankruptcy judge rejected J&J’s proposed talc settlement plan, marking another failure of the bankruptcy approach and pushing the fight back toward the traditional tort system. [5]
What to watch Friday: any overnight filings, appellate updates, or “copycat” verdict coverage that could shape sentiment into the open.
Fundamentals check: where J&J said growth would come from in 2025
Legal noise can dominate the tape, but J&J’s medium-term stock story is still about execution in Innovative Medicine and MedTech—and how cleanly it continues simplifying the portfolio.
Q3 2025 results: raised sales outlook, reaffirmed adjusted EPS
In its Q3 2025 update (Oct. 14), J&J reported:
- Sales up 6.8% to about $24.0 billion
- EPS of $2.12 and adjusted EPS of $2.80
- Raised full-year 2025 sales guidance to $93.7B at the midpoint
- Reaffirmed full-year adjusted EPS guidance at $10.85 at the midpoint [6]
The company also emphasized progress across priority areas—Oncology, Immunology, Neuroscience, Cardiovascular, Surgery, and Vision. [7]
Why it matters for Friday: The market tends to treat JNJ as a “quality compounder.” When guidance is stable and visibility is high, the stock often trades like a defensive anchor—until a headline risk (like talc) forces a quick re-pricing.
Portfolio reshaping: the planned DePuy Synthes separation is still a major storyline
J&J is not done simplifying.
On Oct. 14, 2025, the company announced it intends to separate its Orthopaedics business, creating a standalone company that would operate as DePuy Synthes. [8]
Key points from J&J’s announcement:
- The separation is meant to sharpen focus on higher-growth, higher-margin opportunities across Innovative Medicine and MedTech. [9]
- The standalone orthopaedics company would be positioned as “the largest, most comprehensive orthopaedics-focused company,” according to J&J. [10]
- J&J said the Orthopaedics business generated about $9.2B in 2024 sales. [11]
- Namal Nawana was appointed to serve as Worldwide President of DePuy Synthes. [12]
Investor read-through: Portfolio separations can unlock value—but they also introduce execution questions (timing, tax structure, stranded costs, and how the remaining MedTech mix looks post-separation). That can become a valuation swing factor as more details emerge.
Late-2025 product and pipeline updates investors are watching
Even in a headline-heavy month, a few developments in medicine and devices help define how much “real growth” JNJ can deliver.
FDA expands use of TRUFILL n‑BCA in chronic subdural hematoma
On Dec. 18, 2025, J&J MedTech said the FDA approved an expanded indication for the TRUFILL n‑BCA Liquid Embolic System for embolization of the middle meningeal artery as an adjunct to surgery in symptomatic subacute and chronic subdural hematoma. [13]
This is not likely to move JNJ stock alone, but it reinforces the company’s MedTech strategy: targeted innovations in cardiovascular/neurovascular that can add durable growth.
Caplyta: FDA expands approval to major depressive disorder adjunctive use
In early November 2025, Reuters reported the FDA expanded approval for Caplyta (lumateperone) to include use as an adjunctive treatment for major depressive disorder, in addition to its existing indications. Reuters also cited J&J’s estimate of about 22 million U.S. adults living with major depressive disorder and noted Caplyta’s global sales of $240 million in Q3.
For investors, this matters because neuroscience is one of J&J’s stated growth priorities—and label expansions can change the slope of revenue expectations.
Washington risk: drug pricing pressure is still a sector overhang—and J&J is in the frame
Healthcare stocks can trade on policy headlines even when company-specific fundamentals are intact.
Trump’s drug pricing push and “deal” headlines
In December 2025, the White House publicized actions and agreements aimed at lowering drug prices. [14] Reuters reporting around these developments indicated some companies agreed to cut prices, while others—including Johnson & Johnson—were among the firms not yet signed onto the agreements at the time. [15]
Medicare cost changes also keep attention on big-ticket drugs
Reuters also reported that Medicare enrollees are expected to see lower out-of-pocket costs in 2026, but high-cost drugs can still be expensive, citing examples including Stelara (a J&J drug). [16]
Why this matters into Friday: JNJ tends to be treated as a “safer” healthcare mega-cap, but policy headlines can temporarily compress the whole group’s multiples—especially if the market starts to model tighter U.S. pricing.
Dividend update: what income investors should know
J&J remains a cornerstone dividend name.
- J&J has recorded more than 60 consecutive years of dividend increases, per its investor materials. [17]
- The company raised its quarterly dividend in 2025 to $1.30 per share (up from $1.24 previously), and it declared a Q4 2025 dividend payable Dec. 9, 2025 with an ex-dividend date of Nov. 25, 2025, according to market reporting that cited the company’s announcement. [18]
Investor takeaway: The dividend won’t be the reason JNJ gaps up Friday morning—but it’s a major reason the stock often finds “buyer support” on pullbacks, particularly in uncertain macro/policy periods.
Street forecasts: what analysts expect for earnings and where targets sit
Earnings expectations (near-term)
Market consensus is already looking toward the next report cycle.
- J&J’s fourth-quarter 2025 earnings call is scheduled for Wednesday, Jan. 21, 2026, according to J&J’s investor site. [19]
- Analyst estimates compiled on Yahoo Finance show:
- Current quarter EPS estimate: about $2.53
- Full-year 2025 EPS estimate: about $10.87
- Full-year 2026 EPS estimate: about $11.54 [20]
Price targets and ratings (medium-term)
Targets cluster in the low-$200s, but the range is wide.
- Nasdaq’s analyst-price-target summary (as of early Dec.) put the average one-year price target around $206.71, with a range from ~$171.70 to ~$241.50. [21]
- Recent firm-specific moves show the spread:
How to interpret this before the open: When targets diverge this much, it usually signals that analysts agree JNJ is “high quality,” but disagree on how heavily to discount legal/policy overhangs versus earnings durability and the portfolio-reset upside.
Technical and trading setup for Dec. 26: the levels traders may watch
If you’re writing a “before the bell” plan, keep it simple:
- Near-term support: the most recent low around $205.43
- Near-term resistance: the recent high around $207.92 (and the round-number zone just above)
- Trend context: Zacks-style technical commentary in late 2025 highlighted JNJ trading above key moving averages over an extended stretch, suggesting the prevailing trend stayed constructive into year-end. [24]
Friday-specific nuance: Dec. 26 has a seasonal reputation as a historically strong trading day for the broader market, though seasonality doesn’t guarantee anything for an individual stock. [25]
What could move JNJ stock immediately on Friday morning
Here’s the practical checklist for pre-market monitoring:
- Talc litigation headlines
- Drug pricing / Washington
- new developments on White House pricing actions and whether remaining companies (including JNJ) sign on [28]
- Deal/portfolio commentary
- any incremental details on the DePuy Synthes separation structure and timing [29]
- Positioning into January earnings
- watch for preview notes as Jan. 21 (Q4) approaches [30]
Bottom line before the Dec. 26 open
Johnson & Johnson stock goes into Friday’s session with three forces pulling on it at once:
- Defensive-quality fundamentals and reaffirmed 2025 profitability outlook [31]
- Portfolio-change optionality via the planned DePuy Synthes separation [32]
- A revived wave of talc litigation headlines, which can overwhelm fundamentals in the short run [33]
For a “before the bell” frame: if Friday opens quietly, JNJ may trade like a steady mega-cap again. If a fresh legal or policy headline breaks, expect bigger-than-usual moves for a stock that normally behaves like a low-volatility anchor.
This article is for informational purposes only and is not financial advice.
References
1. www.nyse.com, 2. www.reuters.com, 3. www.reuters.com, 4. apnews.com, 5. www.reuters.com, 6. www.jnj.com, 7. www.jnj.com, 8. www.jnj.com, 9. www.jnj.com, 10. www.jnj.com, 11. www.jnj.com, 12. www.jnj.com, 13. www.jnj.com, 14. www.whitehouse.gov, 15. www.reuters.com, 16. www.reuters.com, 17. investor.jnj.com, 18. www.investing.com, 19. www.investor.jnj.com, 20. finance.yahoo.com, 21. www.nasdaq.com, 22. www.tipranks.com, 23. finance.yahoo.com, 24. finviz.com, 25. www.marketwatch.com, 26. www.reuters.com, 27. apnews.com, 28. www.reuters.com, 29. www.jnj.com, 30. www.investor.jnj.com, 31. www.jnj.com, 32. www.jnj.com, 33. www.reuters.com
