Kenvue Shares Jump on First Day of Trading

BAND-AID bandages are displayed on a table

Getty Images

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
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
  1. Kenvue. "IPO Prospectus."

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

Take the Next Step to Invest
The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.