New York, Feb 12, 2026, 15:06 EST — Regular session
- Johnson & Johnson shares rose about 1.7% in afternoon trade, beating a drop in the broader market
- A fresh annual filing showed 2025 sales rose 6% to $94.2 billion
- A new shelf filing gives J&J flexibility to issue debt over time
Johnson & Johnson shares rose 1.7% to $244.97 on Thursday afternoon, near the session high, even as the S&P 500’s main ETF proxy fell close to 1%. The health-care sector was slightly higher, and drugmakers were mixed.
The outperformance matters now because investors have been dumping software and other high-growth names, pressing Wall Street lower and leaving room for defensive pockets to hold up better. “We see this as a ‘prove it’ year for AI,” said Jack Herr, a primary investment analyst at GuideStone Funds. (Reuters)
Against that backdrop, investors have been re-reading Johnson & Johnson’s new annual report, filed on Wednesday, for signals on how sticky its post-Kenvue operating picture looks into 2026. In 2025, worldwide sales increased 6.0% to $94.2 billion, the filing showed. (SEC)
The report also underlined concentration risk in a handful of franchises. Darzalex products accounted for about 15% of fiscal 2025 revenue, while Stelara accounted for about 6.5%, and J&J said it expects biosimilar launches to keep weighing on Stelara sales. (SEC)
Net earnings from continuing operations were $26.8 billion in 2025, with diluted earnings per share of $11.03, the filing showed. (SEC)
Separately, Johnson & Johnson filed an automatic shelf registration statement — a structure that lets a frequent issuer tap markets over time — covering debt securities. Unless it says otherwise in a future prospectus supplement, J&J said proceeds would be for general corporate purposes including working capital, capital spending, stock repurchases, refinancing and acquisitions. (Streetinsider)
Still, the annual report carried familiar landmines. The company said talc-related personal injury litigation remains significant and put the present value of its reserve to resolve talc claims at about $3.4 billion as of Dec. 28, 2025; it also flagged more ovarian cancer trials scheduled in state courts in 2026 and beyond. (SEC)
One risk for bulls: the stock’s defensive bid can fade quickly if rates reprice higher or if inflation data revive bets that the Federal Reserve will keep borrowing costs elevated for longer. (AP News)
On the company calendar, shareholders will also be watching the next dividend checkpoints. J&J said its board declared a $1.30-a-share dividend payable March 10 to shareholders of record as of Feb. 24. (SEC)
