Johnson & Johnson is formally exiting Kenvue (KVUE) by selling off its remaining stake, which has elicited mixed reactions from investors and shareholders. Despite Kenvue's lackluster performance and questionable growth, several investors such as Private Advisor Group and Victory Capital Management have raised or acquired their stake in the company. Furthermore, Kenvue will be launching a secondary stock offering following J&J's exit. Despite significant challenges and J&J being ordered to pay $45M in a recent talc-related cancer claim, the company's stock has experienced a rally.
However, Kenvue's Q1 2024 earnings call underscores the company's financial challenges after J&J's exit, showing a gap down to $20.63. With the company's revenues falling short of expectations and announcing a job cut of 4% as a cost savings move. Looking ahead, there is speculation about whether Kenvue can improve efficiency and invest in product development and marketing. Investors are advised to watch out for this stock in light of these changing dynamics.
Kenvue KVUE News Analytics from Fri, 04 Aug 2023 07:00:00 GMT to Sat, 18 May 2024 20:20:32 GMT - Rating -3 - Innovation 2 - Information 3 - Rumor -5
