Johnson & Johnson (NYSE: JNJ) discloses 15.4% stake in CVRx common stock

Rhea-AI Filing Summary

Johnson & Johnson, together with its subsidiary Johnson & Johnson Innovation – JJDC, Inc., reports beneficial ownership of 4,024,861 shares of CVRx, Inc. common stock, representing 15.4% of the class as of the measurement date. JJDC directly owns the shares, and Johnson & Johnson may be deemed to indirectly own them through its wholly owned subsidiary.

The ownership percentage is calculated against 26,210,109 CVRx common shares outstanding as of October 30, 2025, with the ownership position reported as of December 31, 2025. All voting and dispositive power over these shares is reported as shared rather than sole.

Insights

Equity ownership and governance analyst

Johnson & Johnson reports a 15.4% beneficial stake in CVRx via its JJDC subsidiary.

Johnson & Johnson and its wholly owned subsidiary Johnson & Johnson Innovation – JJDC, Inc. disclose beneficial ownership of 4,024,861 shares of CVRx common stock. This position represents 15.4% of CVRx’s common shares, making Johnson & Johnson, through JJDC, a significant shareholder.

The filing states that JJDC directly owns the shares, while Johnson & Johnson may be deemed to indirectly beneficially own them through its subsidiary structure. All 4,024,861 shares are reported with shared voting and shared dispositive power, and no shares are listed with sole power.

The ownership percentage is based on 26,210,109 CVRx common shares outstanding as of October 30, 2025, as reported in CVRx’s Form 10-Q for the quarter ended September 30, 2025. This amendment, dated as of an event on December 31, 2025, updates the market on the size and nature of Johnson & Johnson’s stake but does not describe any specific new transaction or change in corporate control.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

CVRx, Inc.

(Name of Issuer)

Common Stock, $0.01 par value

(Title of Class of Securities)

126638105

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 126638105

1

Names of Reporting Persons

JOHNSON & JOHNSON

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEW JERSEY

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,024,861.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,024,861.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,024,861.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

15.4 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. 126638105

1

Names of Reporting Persons

Johnson & Johnson Innovation - JJDC, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,024,861.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,024,861.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,024,861.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

15.4 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: CVRx, Inc.
(b)	Address of issuer's principal executive offices: 9201 West Broadway Avenue, Suite 650, Minneapolis, MN 55445
Item 2.
(a)	Name of person filing: This Amendment No. 3 to Schedule 13G is filed by Johnson & Johnson, a New Jersey corporation ("J&J") and Johnson & Johnson Innovation-JJDC, Inc., a Delaware corporation ("JJDC"). JJDC is a wholly-owned subsidiary of J&J. The securities reported herein as being held by J&J and JJDC are directly beneficially owned by JJDC and J&J may be deemed to indirectly beneficially own such securities. Reference is hereby made to the Schedule 13G filed with the Securities and Exchange Commission by the Reporting Persons with respect to the Common Stock of the Issuer on February 7, 2022, Amendment No. 1 thereto on February 2, 2024 and Amendment No. 2 thereto on November 1, 2024 (as so amended, the "Schedule 13G"). The agreement between the Reporting Persons to file jointly (the "Joint Filing Agreement") was filed as Exhibit 1 to the initial Schedule 13G.
(b)	Address or principal business office or, if none, residence: J&J: One Johnson & Johnson Plaza, New Brunswick, NJ 08933 JJDC: 410 George Street, New Brunswick, NJ 08901
(c)	Citizenship: J&J: NJ JJDC: DE
(d)	Title of class of securities: Common Stock, $0.01 par value
(e)	CUSIP No.: 126638105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The information requested in this item is incorporated herein by reference to the cover pages to this Schedule 13G/A.
(b)	Percent of class: The information requested in this item is incorporated herein by reference to the cover pages to this Schedule 13G/A. Percentage ownership is based on 26,210,109 shares of Common Stock outstanding as of October 30, 2025, as reported in the Issuer's Report on Form 10-Q for the period ended September 30, 2025 filed with the Securities and Exchange Commission on November 6, 2025.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: The information requested in this item is incorporated herein by reference to the cover pages to this Schedule 13G/A.
	(ii) Shared power to vote or to direct the vote: The information requested in this item is incorporated herein by reference to the cover pages to this Schedule 13G/A.
	(iii) Sole power to dispose or to direct the disposition of: The information requested in this item is incorporated herein by reference to the cover pages to this Schedule 13G/A.
	(iv) Shared power to dispose or to direct the disposition of: The information requested in this item is incorporated herein by reference to the cover pages to this Schedule 13G/A.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

JOHNSON & JOHNSON

Signature:	/s/ Marc Larkins
Name/Title:	Marc Larkins/Secretary
Date:	01/12/2026

Johnson & Johnson Innovation - JJDC, Inc.

Signature:	/s/ Jill McManus
Name/Title:	Jill McManus/Assistant Treasurer
Date:	01/12/2026

FAQ

How many CVRx (JNJ) shares does Johnson & Johnson report owning in this Schedule 13G/A?

Johnson & Johnson, through Johnson & Johnson Innovation – JJDC, Inc., reports beneficial ownership of 4,024,861 shares of CVRx, Inc. common stock.

What percentage of CVRx common stock does Johnson & Johnson beneficially own according to this filing?

The filing reports that Johnson & Johnson and Johnson & Johnson Innovation – JJDC, Inc. beneficially own 15.4% of CVRx’s outstanding common stock.

Which Johnson & Johnson entity directly holds the CVRx shares reported in this Schedule 13G/A?

The CVRx shares are directly beneficially owned by Johnson & Johnson Innovation – JJDC, Inc., a wholly owned subsidiary of Johnson & Johnson.

On what share count is Johnson & Johnson’s 15.4% CVRx ownership based?

The 15.4% ownership is based on 26,210,109 CVRx common shares outstanding as of October 30, 2025, as reported in CVRx’s Form 10-Q for the quarter ended September 30, 2025.

What voting and dispositive powers over CVRx shares does Johnson & Johnson report?

The filing reports 0 shares with sole voting or dispositive power and 4,024,861 shares with shared voting and shared dispositive power.

What is the event date that triggered this Johnson & Johnson Schedule 13G/A for CVRx?

The date of the event requiring this Schedule 13G/A amendment is reported as December 31, 2025.

Who signed the Johnson & Johnson Schedule 13G/A related to CVRx?

The statement is signed by Marc Larkins, Secretary, and Jill McManus, Assistant Treasurer, each signing on January 12, 2026.