New York, February 20, 2026, 19:02 EST — After-hours
- Johnson & Johnson dropped 1.8% to finish at $242.49 on Friday, even as the broader market moved higher.
- J&J’s DePuy Synthes orthopedics unit grabbed focus after reports said the company is considering its options for the business.
- Coming up: the ex-dividend date lands Feb. 24, with management set to speak at health-care investor conferences in early March.
Johnson & Johnson dropped 1.8% Friday, wrapping up at $242.49. Shares moved between $246.90 and $240.43 during the day. Volume landed at roughly 13.6 million shares.
Shares slipped even as the S&P 500 added roughly 0.7% and the Dow rose about 0.5% on the day. Now, J&J holders are left eyeing whether talk of a strategy shift leads to actual change—and how quickly it plays out. 1
Johnson & Johnson is gearing up to sell its DePuy Synthes orthopedics division, with the transaction potentially exceeding $20 billion, according to a Reuters source on Thursday. Private equity buyers are considered the frontrunners. DePuy reported $9.3 billion in sales for 2025, and J&J previously indicated the business would be separated within 18 to 24 months. Chief Financial Officer Joe Wolk has pointed to a “tax-free spinoff” as the preferred route, but hasn’t ruled out alternatives. 2
J&J this week rolled out new spending plans, committing over $1 billion to a cell therapy manufacturing site in Montgomery County, Pennsylvania, as drugmakers look to shore up U.S. production before tariffs kick in. The 100% tariff on branded drugs, imposed by the U.S. government in October, targets only those producers who haven’t started building yet. J&J hasn’t revealed when the facility will come online. 3
Chief Executive Joaquin Duato said in the announcement, “We are honored to continue advancing that legacy in Pennsylvania.” Governor Josh Shapiro described the state as “a powerhouse for innovation and manufacturing in the life sciences.” 4
February 24 stands out as the ex-dividend date—after that, buyers won’t qualify for the upcoming payout. J&J’s plan: a $1.30 per share quarterly dividend, set to go out March 10 to anyone holding shares at the close on February 24. 5
But the next phase looks anything but straightforward. J&J remains entangled in extensive talc litigation, and just this month, a Pennsylvania jury held the company liable in an ovarian cancer case tied to its talc baby powder. J&J plans to appeal. 6
U.S. markets stay closed until Monday, so traders are left watching for signs that the DePuy talks are moving beyond the initial phase—or if a spinoff might be back on the table rather than a sale. Whichever way it goes, headlines will drive the stock, not the ticker.
Leadership will appear at two health-care investor conferences in early March: TD Cowen on March 3 at 11:10 a.m. Eastern, followed by Barclays on March 10 at 11:30 a.m. Eastern. Both sessions stream via webcast. 7
J&J’s first-quarter earnings call comes up next, slated for April 14. 8
