Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

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<a href="https://www.smartkarma.com/entities/kenvue-inc" target="_blank" data-smartkarma-citation="entities:36755:1" rel="noopener">Kenvue (KVUE US)</a> reported 5% YoY revenue growth to $4B in 2Q23, driven by continued demand of self-care portfolio, mainly consisting of cough, cold, and allergy, and pain care products.</li>
<li>The company has guided for 4.5–5.5% revenue growth and EPS of $1.26–1.31 for 2023. Kenvue has declared a cash dividend of $0.20 for 3Q23.  </li>
<li>J&amp;J is offering its shareholders the option to exchange shares for Kenvue's at a 7% discount. The exchange offer is scheduled to close on August 18, 2023.</li>
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Kenvue (KVUE US) reported 5% YoY revenue growth to $4B in 2Q23, driven by continued demand of self-care portfolio, mainly consisting of cough, cold, and allergy, and pain care products.
The company has guided for 4.5–5.5% revenue growth and EPS of $1.26–1.31 for 2023. Kenvue has declared a cash dividend of $0.20 for 3Q23.  
J&amp;J is offering its shareholders the option to exchange shares for Kenvue's at a 7% discount. The exchange offer is scheduled to close on August 18, 2023.


Kenvue (KVUE US): Q2 Result Beats Estimates; Initiated 2023 Guidance; J&J Launches Exchange Offer

Equity Capital Markets

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<a href="https://www.smartkarma.com/entities/kenvue-inc" target="_blank" data-smartkarma-citation="entities:36755:1" rel="noopener">Kenvue (KVUE US)</a>, a wholly owned subsidiary of <a href="https://www.smartkarma.com/entities/johnson-johnson" target="_blank" data-smartkarma-citation="entities:1132:1" rel="noopener">Johnson &amp; Johnson (JNJ US)</a>, is preparing for an IPO of 151M shares. The IPO price is expected to be $20–23/share.  </li>
<li>Goldman Sachs, J.P. Morgan, and BofA Securities are acting as joint lead bookrunning managers for the IPO. J&amp;J will still own more than 90% of Kenvue’s shares after the IPO.</li>
<li>In 1Q23, Kenvue’s revenue increased 7% YoY to $3.9B, driven by a 12% YoY revenue growth in self-care OTC products. Adjusted net income increased 3% YoY to $630M.</li>
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Kenvue (KVUE US), a wholly owned subsidiary of Johnson &amp; Johnson (JNJ US), is preparing for an IPO of 151M shares. The IPO price is expected to be $20–23/share.  
Goldman Sachs, J.P. Morgan, and BofA Securities are acting as joint lead bookrunning managers for the IPO. J&amp;J will still own more than 90% of Kenvue’s shares after the IPO.
In 1Q23, Kenvue’s revenue increased 7% YoY to $3.9B, driven by a 12% YoY revenue growth in self-care OTC products. Adjusted net income increased 3% YoY to $630M.


Kenvue (KVUE US) Pre-IPO: Marquee Brands to Drive Profitable Growth

United States

Haleon PLC provides consumer healthcare products. The Company offers therapeutic oral health, vitamins, cold and flu, minerals and supplements, pain relief, and digestive health products. Haleon serves customers worldwide.

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Haleon (HLN LN)

Kenvue (KVUE US): Q2 Result Beats Estimates; Initiated 2023 Guidance; J&J Launches Exchange Offer

Kenvue beat Q2 sales and EPS estimates and guided for 4.5-5.5% sales growth for 2023. J&J is launching exchange offer for its holders to get ...

Tina Banerjee

Kenvue (KVUE US) Pre-IPO: Marquee Brands to Drive Profitable Growth

J&J’s consumer health spin-off entity Kenvue is preparing for NYSE IPO. The IPO has been priced at $20–23 per share to raise ~$3.2B. Goldman Sachs,...

Tina Banerjee

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