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. 1
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. 2
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. 2
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. 2
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. 3
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. 2
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. 4
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. 2
