Johnson & Johnson reported fourth-quarter revenues up 9.1% year-over-year, driven by resilience in U.S. pharmaceutical and medical device sales. The company struck a landmark agreement with the federal government to eliminate import tariffs in exchange for lower drug prices, a move expected to improve gross margins by mid-2026 despite ongoing cost pressures in its supply chain. Management reiterated guidance for 2026, forecasting accelerating top-line growth and at least 50 basis points of pre-tax operating margin expansion. Longer-term ambitions remain ambitious, with the firm targeting double-digit annual growth in its pharmaceuticals business through new product launches in immunology and oncology and incremental device sales from recently acquired digital surgery assets.

AEGON Asset Management UK Plc increased its stake in Johnson & Johnson by 11.3% during the third quarter, acquiring an additional 65,526 shares to bring its total holding to 647,271 shares, representing 1.4% of its portfolio. At the end of the period, AEGON’s position was valued at approximately $120 million. Other notable moves included Norges Bank’s new stake of roughly $4.9 billion and Laurel Wealth Advisors’ 15,040.6% increase to over 7.4 million shares. Collectively, institutional and hedge fund ownership stands at nearly 70% of the outstanding share count, underscoring broad investor confidence in the company’s growth trajectory and defensive cash-flow profile.