Johnson & Johnson Reveals Updated 2023 Projections After Finalizing Biggest Shake Up In 135 Years
Portfolio Pulse from Vandana Singh
Johnson & Johnson (JNJ) has updated its 2023 projections, predicting double-digit profit growth following its recent spinoff of Kenvue Inc (KVUE). The company expects FY23 reported sales growth of 7%-8% and adjusted reported EPS of $10 to $10.10. JNJ retains a 9.5% stake in KVUE after accepting 190.9 million JNJ stock in exchange for around 1.5 billion KVUE common stock.
August 30, 2023 | 3:42 pm
News sentiment analysis
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NEUTRAL IMPACT
Johnson & Johnson retains a 9.5% stake in Kenvue Inc after the spinoff.
The news of JNJ retaining a 9.5% stake in KVUE after the spinoff is neutral for KVUE's stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Johnson & Johnson predicts double-digit profit growth in 2023 after its recent spinoff of Kenvue Inc.
The updated 2023 projections and the spinoff of Kenvue Inc are likely to have a positive impact on JNJ's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100