KVUE attracted 2,470,845 calls in the past 10 days
Dow member Johnson & Johnson (JNJ) last week completed a split-off exchange offer of 1.53 billion shares of Kenvue Inc (NYSE:KVUE) worth roughly $40 billion. KVUE is down 0.5% at $22.87 at last check, as it struggles with overhead pressure fat the $24 level, though it is not too far removed from its May 15, all-time high of $27.79, which came only two weeks after its initial public offering (IPO). The equity is down 13.4% quarter-to-date, though.
Shares just debuted on Schaeffer's Senior Quantitative Analyst Rocky White's list of stocks that attracted the highest weekly options volume over the last 10 days, too. In fact, KVUE drew 2,470,845 calls and 1,834,104 puts. The September 30 call was the most popular contract in that time period.
A handful of analysts have already initiated coverage, with five calling the equity a "buy" or better, while four rate it a "hold." Kenvue stock's 12-month consensus target price of $27.75 is a 21.4% premium to current levels.