Starboard Value, a prominent activist investor, has reportedly acquired a significant stake in Kenvue Inc., the company behind popular consumer brands like Tylenol and Listerine. The move signals potential changes for Kenvue, which has faced stock underperformance since its spin-off from Johnson & Johnson last year. Starboard’s CEO, Jeff Smith, is expected to outline his plans for Kenvue at an upcoming activist investing conference.
Kenvue Inc. (KVUE), the parent company of popular brands like Listerine, Mylanta, and Tylenol, is showing strong bullish signals. The stock is approaching a Golden Cross, a technical indicator suggesting potential for a significant price increase. A recent legal victory regarding Tylenol ‘Rapid Release’ gelcaps further strengthens the company’s position.
Kenvue, the maker of Tylenol, has successfully defended itself against a lawsuit alleging misleading marketing of ‘Rapid Release’ gelcaps. A federal judge ruled that the lawsuit was preempted by FDA regulations, finding that the agency does not recognize the term ‘rapid release’ for acetaminophen products.
