Kenvue Shares Jump on First Day of Trading

By
Bill McColl
Bill McColl
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Bill McColl has 25+ years of experience as a senior producer and writer for TV, radio, and digital media leading teams of anchors, reporters, and editors in creating news broadcasts, covering some of the most notable news stories of the time.

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Published May 04, 2023
BAND-AID bandages are displayed on a table

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Key Takeaways

  • Shares of Kenvue, the consumer health spinoff of Johnson & Johnson, debuted on the markets on May 4, 2023.
  • The company makes well-known products such as BAND-AIDs, Listerine, Tylenol, and Zyrtec.
  • Following IPO pricing of $22 per share, Kenvue stock closed its first trading session at $26.90, marking gains of 22%.

Shares of Kenvue soared on the first day of trading for the consumer health spinoff of Johnson & Johnson (JNJ).

Kenvue priced its initial public offering (IPO) at $22 per share, at the high end of the expected range, valuing it at about $41 billion. That made it the largest U.S. IPO in more than a year. Shares ended the session at $26.90, up 22%, raising the company's market capitalization to about $50 billion.

Kenvue reported annual sales of $14.95 billion in 2022, with pro forma net income of $1.46 billion. It estimates first quarter revenue was $3.85 billion and adjusted net income was between $320 million and $340 million.

Well-Known Products

The company bills itself as the "world's largest pure-play consumer health company by revenue," and it makes popular products including BAND-AID bandages, Listerine mouthwash, Tylenol painkiller, and Zyrtec allergy medicine.

CEO Thibaut Mongon said that Kenvue was "a global leader at the intersection of healthcare and consumer goods."

Article Sources
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  1. Kenvue. "IPO Prospectus."

  2. Businesswire. "Kenvue to Begin Trading on the New York Stock Exchange."

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