Schmid Timothy sold $9.2M of JNJ

RBC Capital's Larry Biegelsen maintained an Overweight rating on Johnson & Johnson (JNJ) and raised the price target to $272 from $263, reflecting confidence in the company's valuation and future earnings.

J&J shares rose 1% to $277.955. AbbVie's experimental myeloma drug showed 74% response rate, 60% risk reduction. J&J's Carvykti drove 6.8% operational growth in Q2. Reuters notes AbbVie's drug complements, not replaces, J&J's treatment. J&J's stock is 44.08% above GF Value estimate.

Johnson & Johnson shares rose 2.7% to $278.63 after FDA approved its drug Imaavy for a rare disease, and UBS raised its price target to $320. The stock has gained 50% in the past year, nearing record highs. The company also raised its 2026 sales target above $100 billion.

Taiwan's FDA issued a red alert over a heart pump device after the U.S. FDA warned of a defect in Abiomed Inc.'s Automated Impella Controllers, linked to 3 deaths and 37 injuries. The device, used in 19 Taiwanese hospitals, is being recalled for a cartridge recognition issue. Johnson & Johnson MedTech, the local license holder, must notify providers and implement fixes.

Johnson & Johnson revised its 2026 and 2027 adjusted EPS guidance downward, citing expected decreases in operational and adjusted metrics. For 2026, EPS is expected to decrease by $0.64, and for 2027, by $1.36. The company also announced a $5.5 billion settlement for talc-related claims, with the first payment of up to $3 billion due in 2027.

Johnson & Johnson (JNJ) appointed Tom Cavanaugh as Executive Vice President and Worldwide Chairman of its Innovative Medicine division, effective September 1, 2026. Cavanaugh succeeds Jennifer Taubert, who is retiring after 21 years. The division generated over $60 billion in annual revenue under Taubert's leadership. JNJ's shares rose 0.86% to $258.03 on Friday following two biotech acquisitions: a $1 billion cash deal for Firefly Bio and a $2.58 billion option to acquire Sail Biomedicines, whi