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 - 2026-09-11]. This litigation resolution represents one of the most significant legal developments for the company in recent years and relates to long-running product liability claims tied to its consumer health portfolio.
As of the quarter ending 28 June 2026, Johnson & Johnson reported trailing twelve-month revenue of $97.93 billion, reflecting year-over-year growth of 6.60% [SEC 10-Q - JNJ - 2026-06-28]. Net income over the same period was $21.04 billion, with a net margin of 21.48% and a gross margin of 67.91%. Operating margin stood at 27.37%. Earnings per share declined 0.87% year-over-year. The company held $20.42 billion in cash against $49.04 billion in total debt. The P/E ratio was recorded at 31.36.
Insider activity in September 2026 recorded four transactions with a net selling direction, totalling approximately $9.23 million in disposals [SEC Form 4 - JNJ - 2026-09]. On the institutional side, five firms opened new positions in JNJ during the most recent 13F reporting period: Citadel, AQR Capital, Millennium, Bridgewater, and Soros Fund Management [SEC 13F - Citadel - Q3 2026] [SEC 13F - AQR Capital - Q3 2026] [SEC 13F - Millennium - Q3 2026] [SEC 13F - Bridgewater - Q3 2026] [SEC 13F - Soros Fund Mgmt - Q3 2026]. These concurrent new position openings across multiple large institutional managers constitute the primary trigger for this report.
The prevailing macro environment features a 10-year US Treasury yield of 4.94% and a 2-year yield of 4.67%, producing a normal yield curve shape [FRED DGS10] [FRED DGS2]. The spread between the two tenors stands at 27 basis points, indicating a modestly upward-sloping term structure at the time of this report's generation.