Johnson & Johnson reached a $5.5 billion settlement on 28 July 2026 to resolve approximately 69,000 US lawsuits consolidated in federal court in New Jersey, with plaintiffs alleging that talc-based baby powder and related products caused ovarian cancer [Brief - 2026-07-29]. This settlement represented a material legal development for the company, which had faced consolidated talc litigation across multiple jurisdictions. The resolution was previously covered in a prior instrument report dated 16 August 2026 [Brief - 2026-08-16].
For the trailing twelve months ending 28 June 2026, Johnson & Johnson recorded revenue of approximately $97.9 billion, representing year-over-year growth of 6.6%. Net income over the same period was approximately $21.0 billion, with a net margin of 21.5% and an operating margin of 27.4%. Gross margin stood at 67.9%. Earnings per share declined 0.87% year-over-year. The company held $20.4 billion in cash against total debt of $49.0 billion. The P/E ratio was recorded at 30.93 [SEC 10-Q - JNJ - 2026-06-28].
Insider activity over the past 30 days comprised nine transactions with a net direction of selling, totalling a net disposal value of approximately $45.4 million [SEC Form 4 - JNJ - 2026-09]. On the institutional side, five notable firms opened new positions in JNJ during the most recent 13F reporting period: Citadel, AQR Capital, Millennium, Bridgewater, and Soros Fund Management each initiated holdings [SEC 13F - Citadel - Q2 2026; SEC 13F - AQR Capital - Q2 2026; SEC 13F - Millennium - Q2 2026; SEC 13F - Bridgewater - Q2 2026; SEC 13F - SorosFundMgmt - Q2 2026].
The prevailing macro environment reflects a 10-year US Treasury yield of 4.83% and a 2-year yield of 4.39%, producing a normal yield curve with a spread of approximately 44 basis points [FRED DGS10; FRED DGS2]. This rate configuration represents the broader fixed-income context within which large-cap equities such as JNJ are currently priced.