New York, Feb 12, 2026, 15:06 EST — Regular session
- Johnson & Johnson shares climbed roughly 1.7% in afternoon trading, outperforming the wider market’s decline
- New annual filings reveal 2025 sales climbed 6% to reach $94.2 billion
- J&J’s new shelf filing lets the company issue debt gradually
Johnson & Johnson shares climbed 1.7% to $244.97 by Thursday afternoon, approaching the session peak. This came despite the S&P 500’s main ETF proxy dropping nearly 1%. The health-care sector edged up, while drugmakers showed mixed results.
The outperformance is crucial now as investors pull back from software and other high-growth stocks, dragging Wall Street down and allowing defensive sectors to hold their ground. “We see this as a ‘prove it’ year for AI,” said Jack Herr, a lead investment analyst at GuideStone Funds. Reuters
Against this backdrop, investors have been digging into Johnson & Johnson’s latest annual report, filed Wednesday, searching for clues on the durability of its post-Kenvue operations through 2026. The filing revealed that global sales rose 6.0% in 2025, hitting $94.2 billion.
The report highlighted concentration risk centered on a few key franchises. Darzalex made up roughly 15% of fiscal 2025 revenue, with Stelara contributing about 6.5%. J&J also warned that biosimilar competition is expected to continue pressuring Stelara sales.
According to the filing, net earnings from continuing operations reached $26.8 billion in 2025, with diluted earnings per share coming in at $11.03.
Johnson & Johnson also filed an automatic shelf registration statement, a setup that allows frequent issuers to access the markets over time, covering debt securities. Unless a future prospectus supplement states otherwise, the company said the proceeds will go toward general corporate purposes like working capital, capital expenditures, stock buybacks, refinancing, and acquisitions.
The annual report didn’t shy away from well-known risks. Johnson & Johnson noted talc-related personal injury lawsuits are still a major issue, estimating the reserve for settling these claims at roughly $3.4 billion through Dec. 28, 2025. The company also warned of upcoming ovarian cancer trials in state courts stretching into 2026 and beyond.
One risk for bulls: the stock’s defensive appeal could evaporate fast if rates climb or if inflation numbers push traders to expect the Fed will hold interest rates high for longer.
Shareholders should note the upcoming dividend dates on the company’s calendar. J&J announced its board approved a $1.30 per share dividend, set to be paid on March 10 to those recorded as shareholders by February 24.
