JNJ Shares Soar on Raised Guidance and Q2 Growth
Johnson & Johnson's stock price has surged to around USD 270 as of September 19, 2026, following stronger guidance and robust second-quarter figures. The healthcare company raised its full-year sales guidance to USD 101.1 billion in its latest quarterly results on July 15, 2026.
The Q2 2026 update showed a 6.6 percent year-over-year increase in sales to USD 25.31 billion, with solid expansion across key franchises. The group also projected adjusted earnings per share of USD 11.58 for fiscal 2026 and delivered adjusted EPS of USD 2.90 in Q2 2026, exceeding market expectations.
TREMFYA's 71 percent revenue growth in Q2 2026 was a notable highlight, achieving its first USD 2 billion quarter. Although biosimilar competition to STELARA reduced operational sales growth by 460 basis points, excluding STELARA, Johnson & Johnson still achieved double-digit growth.
Analyst targets point to further upside, with Scotiabank's Louise Chen maintaining a Buy rating and a price target of USD 305. UBS initiated coverage with a Buy rating and a price target of USD 320. The average analyst consensus target is USD 286.61, implying about 6.9 percent upside from the current level.
Johnson & Johnson's valuation reflects both recent earnings strength and the transition away from STELARA. The shares trade at approximately 28.3 times trailing earnings, a multiple that looks high due to the impact of STELARA's declining contribution. However, focusing on forward earnings rather than backward-looking metrics suggests a more moderate valuation.