December 16, 2025 — Johnson & Johnson stock (NYSE: JNJ) is trading lower on Tuesday after pushing to fresh highs earlier this week, as investors weigh a mix of pipeline momentum, legal headlines, and an approaching earnings update that could clarify the company’s 2026 trajectory. [1]
Below is what’s moving Johnson & Johnson shares right now, what Wall Street is forecasting, and the key dates JNJ stock watchers have on the calendar.
JNJ stock price check: what’s happening on Dec. 16, 2025
As of late morning U.S. time on December 16, JNJ stock was trading around the $211–$212 area, down roughly 1% on the day, after closing $214.17 on Monday (Dec. 15). [2]
That pullback comes after a sharp multi-session move higher in early-to-mid December that pushed the stock toward the top of its recent range, with the latest 52-week range shown as roughly $140 to $215. [3]
Why that matters for investors: J&J is often treated as a “defensive” large-cap healthcare name, but when the stock is already near highs, incremental news (good or bad) can have a more muted effect—because expectations are higher.
Catalyst 1: FDA “national priority voucher” for J&J’s Tecvayli + Darzalex combo
One of the most important near-term bullish signals for Johnson & Johnson stock is coming from Washington.
On December 15, the U.S. Food and Drug Administration announced it proactively awarded a Commissioner’s National Priority Voucher to teclistamab + daratumumab (often described as “Tec-Dara”) for relapsed/refractory multiple myeloma. [4]
What is the voucher—and why markets care
The FDA’s National Priority Voucher program is designed to accelerate review of therapies tied to major national priorities. According to the FDA, the voucher award brings the program total to 16 products so far, and it targets review decisions within 1–2 months after an application is submitted, versus timelines that are typically far longer. [5]
The FDA’s announcement also points to strong trial signals:
- The agency cited Phase 3 results (released Nov. 24) showing meaningful improvements versus standard of care, and noted results were published in the New England Journal of Medicine on Dec. 9. [6]
- The FDA commissioner said the agency reviewed the results quickly and contacted the company the next day to discuss the voucher. [7]
What it could mean for JNJ stock
For investors, the takeaway is less about a single headline and more about optionality:
- A faster review path can potentially pull forward key regulatory moments (and, if successful, commercial timelines).
- It reinforces the broader bull case that J&J’s oncology franchise—already anchored by Darzalex—can keep producing new growth drivers.
Of course, the voucher doesn’t guarantee approval, and the timeline still depends on when a submission is made. But the FDA’s unusually proactive posture is notable. [8]
Catalyst 2: Talc litigation is back in focus after a $40 million jury verdict
On the risk side of the ledger, talc-related litigation returned to the headlines after a Los Angeles jury awarded $40 million to two plaintiffs who alleged J&J’s talc-based powders caused ovarian cancer. Johnson & Johnson has said it will appeal. [9]
This verdict is part of a long-running overhang for J&J shares. The company has consistently disputed the claims and points to scientific evaluations it says support product safety, but plaintiffs continue to pursue cases in state courts. [10]
Why this matters for the stock—despite J&J’s size
Johnson & Johnson is a mega-cap company, so a single verdict typically isn’t “financially material” by itself. The bigger issue for investors is:
- headline risk and uncertainty around the pace and outcomes of trials,
- potential impact on sentiment and valuation multiples,
- and whether litigation strategy changes re-enter the picture.
Earlier in 2025, a U.S. bankruptcy judge rejected a proposed talc settlement plan, and Reuters reported the company said it would return to litigating claims in the tort system. [11]
The next big catalyst: Johnson & Johnson earnings on Jan. 21, 2026
Johnson & Johnson has announced it will host its fourth-quarter results conference call on Wednesday, Jan. 21, 2026 at 8:30 a.m. ET. [12]
That matters because the Q4 report is where investors typically look for:
- updates on segment momentum (Innovative Medicine vs. MedTech),
- clarity on product transitions (including immunology headwinds),
- and, most importantly, a refreshed view of 2026 guidance.
J&J has also pointed investors to its planned first-quarter earnings date of Tuesday, April 14, 2026. [13]
Forecasts and outlook: what “2026 growth” means in the JNJ story
Management’s longer-range message: “>5%” top-line growth
One reason Johnson & Johnson stock has attracted renewed interest in 2025 is the company’s confidence about the next phase of growth.
Reuters reported in October that J&J said it expects total revenue growth to exceed 5% in 2026, and that adjusted earnings could slightly top consensus expectations at the time. [14]
That kind of signal can support the stock in two ways:
- It gives investors a narrative bridge beyond near-term patent and competitive pressures.
- It potentially supports a higher valuation multiple if the market believes J&J has become a “cleaner” large-cap healthcare growth story again. [15]
A structural driver investors keep coming back to: the orthopedics spinoff plan
Another major strategic pillar is the planned separation of J&J’s orthopedics business.
Reuters reported J&J plans to separate orthopedics into a standalone company within 18 to 24 months, with the business expected to be named DePuy Synthes. [16]
From a JNJ stock perspective, the thesis is straightforward:
- a more focused J&J could be valued more like a higher-growth pharma + medtech platform, while
- the separated orthopedics company could attract investors who prefer that specific risk/return profile.
The market’s open question is execution: timelines, tax structure, and what the remaining J&J looks like operationally. Reuters also noted the company did not expect further material transaction updates until mid-2026. [17]
Analyst outlook and price targets: bullish notes vs. a more cautious consensus
Recent analyst commentary shows a split between select bullish calls and a more conservative consensus after the stock’s run-up.
- RBC Capital Markets raised its price target on Johnson & Johnson stock to $230 (from $209) and reiterated an Outperform rating following meetings with business leaders, pointing to multiple growth catalysts and the company’s longer-term planning range. [18]
- However, aggregated data on StockAnalysis shows a “Buy” consensus but an average price target around $205, which (at the time of the quote) implied modest downside from the current trading level. [19]
How to read that mix: After a strong 2025 move, JNJ stock can still be viewed as high quality and durable—yet not all forecasters see meaningful near-term upside unless J&J delivers a fresh catalyst (e.g., stronger guidance, faster-than-expected pipeline monetization, or a clearer spinoff value unlock).
Dividend and “defensive” appeal: why JNJ remains a core holding for many portfolios
Even with litigation noise and product-cycle transitions, Johnson & Johnson stock retains one trait that keeps long-term investors engaged: income stability.
- J&J declared a $1.30 quarterly dividend for Q4 2025 (paid Dec. 9, 2025), per the company. [20]
- Earlier in 2025, J&J announced its 63rd consecutive year of dividend increases, lifting the indicated annual dividend rate to $5.20 per share. [21]
- StockAnalysis lists the dividend as $5.20 annually with a yield in the mid‑2% range at current prices. [22]
For SEO readers searching “Is Johnson & Johnson stock a good dividend stock?”: the data supports the view that dividends remain a central part of the JNJ equity story—though total return still depends on earnings growth and valuation.
What to watch next for Johnson & Johnson stock
Here are the near-term markers that could move JNJ stock into early 2026:
- Earnings (Jan. 21, 2026): Q4 results plus 2026 guidance and management commentary. [23]
- Regulatory momentum for Tec-Dara: Any clarity on timing for submissions that could take advantage of the FDA voucher’s accelerated review path. [24]
- Talc litigation cadence: Appeals and upcoming trials—watch for any shift in strategy or settlement posture. [25]
- Orthopedics separation execution: Details on structure and milestones, with prior reporting suggesting limited material updates until mid-2026. [26]
Bottom line
As of December 16, 2025, Johnson & Johnson stock is balancing two powerful narratives: a pipeline and product engine that continues to generate high-profile regulatory momentum—now underscored by an FDA “fast-pass” voucher—and an ongoing legal overhang from talc litigation that can flare up with individual verdicts. [27]
With earnings on Jan. 21, 2026 and management’s previously stated expectation for more than 5% revenue growth in 2026, the next few weeks may do more to set JNJ’s valuation and direction than any single headline. [28]
References
1. stockanalysis.com, 2. stockanalysis.com, 3. stockanalysis.com, 4. www.fda.gov, 5. www.fda.gov, 6. www.fda.gov, 7. www.fda.gov, 8. www.fda.gov, 9. apnews.com, 10. apnews.com, 11. www.reuters.com, 12. www.jnj.com, 13. www.jnj.com, 14. www.reuters.com, 15. www.reuters.com, 16. www.reuters.com, 17. www.reuters.com, 18. www.investing.com, 19. stockanalysis.com, 20. www.jnj.com, 21. www.investor.jnj.com, 22. stockanalysis.com, 23. www.jnj.com, 24. www.fda.gov, 25. www.reuters.com, 26. www.reuters.com, 27. www.fda.gov, 28. www.jnj.com
