Bjugstad (pectoral), Dawson Mercer, Nico Daws, Alexander Command and a pair of draft picks were traded to the Jets from the Devils on Friday in exchange for Connor Hellebuyck.
Bjugstad underwent surgery to repair a torn left pectoral muscle in September, and he was transferred to long-term injured reserve in early October. The 34-year-old isn't expected to be in the mix to return to game action until at least January, but he'll likely have the chance to compete for a bottom-six role once he's cleared to suit up.