Kenvue Just IPO'd, but Is the Stock a Buy?

With its listing on the New York Stock Exchange on May 4 and the conclusion of its initial public offering (IPO) on May 8, Kenvue (NYSE: KVUE) is finally a separate entity from Johnson & Johnson (NYSE: JNJ). The IPO raised net proceeds of $4.2 billion, and it marks the birth of a new giant within the consumer health products industry. In case you aren't familiar, Kenvue owns the rights to dozens of popular consumer health brands like Listerine, Aveeno, Tylenol, Motrin, Baby Powder, and even Band-Aids.