Healthy Day for Blackmores on Kirin Overture
Shares in health supplements company Blackmores surged 22% on Thursday after a $1.9 billion bid at $95 per share by Japanese brewer Kirin, owner of the Lion beer business.
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Health Sector Headlines: RHC, BKL
Polar opposite prognoses from a couple of our healthcare stocks on Thursday, with private hospital operator Ramsay looking rosy but nutritional supplement retailer Blackmores decidedly less so.
Read MoreBKL – Credit Suisse rates the stock as Neutral
Neutral rating and $90 target price retained.
Read MoreBKL – Citi rates the stock as Sell
The Sell rating and target price of $73.16 are retained.
Read MoreBega, Blackmores Reports All But Lost in the Rush
Bigger issues dominated the investment mindset on Thursday as the market took a big dive, rendering virtually moot the reactions to earnings reports from Bega and Blackmores.
Read MoreBKL – Macquarie rates the stock as Neutral
Macquarie raises its target price to $93.50 from $78.50 after Blackmores posted FY21 results. The Neutral rating is unchanged.
Read MoreBKL – Credit Suisse rates the stock as Neutral
Gross margin expansion is anticipated moving to the high 50% levels from 52%. Credit Suisse downgrades estimates for earnings per share by -2-4% and retains a Neutral rating.
Read MoreBKL – Citi rates the stock as Sell
Despite having better sales momentum than Swisse in A&NZ, competition could increase for Blackmores over 2021 as Swisse plans to invest in marketing and branding and expand its practitioner brand Nutra+, explains Citi. The $59.20 target and the Sell rating are retained.
Read MoreBKL – Citi rates the stock as Sell
The broker highlights material cost-outs and success in SE Asian markets as driving Blackmores’ result, but retains Sell. Target falls to $59.20 from $50.60.
Read MoreBlackmores Eyes Job Cuts As Profit Slides 66%
No final payout for shareholders from vitamins and health supplements company Blackmores which is looking to cut about 10% of its workforce after revealing a forecast slump in net profit for the year to June.
Read MoreFounder Sits Out As Blackmores Taps Investors For Capital
Vitamins and supplements maker and exporter, Blackmores has joined the fundraising club with a $117 million offer to shareholders on Wednesday.
Read MoreBKL – Macquarie rates the stock as Underperform
Blackmores’ earnings guidance remains in place but the revenue mix is likely to be materially different than normal, the broker suggests. Supermarkets and pharmacies remain open, but sales will shift to virus-related products and away from other categories. The broker assumes the net impact on profit will be minimal.
Read MoreBKL – Citi rates the stock as Neutral
The good news is that Blackmores’ new strategy seems sensible and it might actually turn around the company’s operational performance, comment analysts at Citi. They still need to see evidence of tangible improvement before turning more positive on the stock.
Read MoreBlackmores Doubles Down On Strategy Despite Profit Dive
No regrets about a weak interim result and lower earnings and dividend from vitamins and well-being group Blackmores.
Read MoreCoronavirus Adds To Blackmores Self Inflicted Wounds
Shares in health and vitamins company Blackmores took a hammering yesterday after it became the highest-profile corporate victim (so far) on the ASX from China’s coronavirus crisis with news yesterday of a sharp fall in expected earnings and the dumping of its interim dividend.
Read MoreBKL – Citi rates the stock as Sell
Blackmores has indicated first half profit is likely to be at similar levels to the prior half, at around $21m. This is below Citi’s original expectations.
Read MoreBlackmores Profit Slumps On China Changes
Vitamins group, Blackmores saw its shares slump more than 15% at one stage on a sharp fall in profit, weaker sales in China and a big cut to its dividend.
Read MoreBlackmores Unveils New CEO
Vitamins group, Blackmores has found a new CEO. Chairman Brent Wallace yesterday announced that Alastair Symington would be Blackmores’ new CEO from October 1 this year.
Read MoreBlackmores Peps Up Its Strategy For China
Elevated inventory persisted over the March quarter amid falling sales for Blackmores, which has recognised the need to reposition its business to better cater for the Chinese market.
Read MoreBlackmores Confirms Tough Medicine For Shareholders
Shares in vitamin maker Blackmores fell 7% at one stage yesterday after the company reported a 14.3% fall in net profit for the first nine months of 2018-19, a not unexpected outcome given the weak half-year performance, early departure of the CEO and continuing problems with softening demand from its largest market, China.
Read MoreBlackmores Boss Steps Aside
A week after surprising the market with news of a weak performance in its key Chinese markets and a loss in earnings momentum, Blackmores provided a second shock yesterday with news that its newish CEO had quit after just 18 months in the gig.
Read MoreBlackmores Sinks On China Slowdown
Vitamins and health products group Blackmores gave the game away yesterday after surprising the market weaker sales in China and a downgraded full-year profit guidance.
Read MoreBlackmores Shares End Softer Despite Solid Update
Blackmores share price skidded lower yesterday, as so many other stocks did in the widespread sell-off, despite a solid first quarter update before the company’s annual general meeting.
Read MoreAsia Drives Healthy Result For Blackmores
Strong sales growth in Asia helped vitamins and supplements company Blackmores record an 18.6% lift in profit to $70 million for the year to June and reward shareholders with a higher final dividend.
Read MoreBlackmores Profit Takes China Hit
Blackmores has pruned its final dividend after reporting a sharp drop in earnings for the year to June.
Read MoreBlackmores Boss To Australia Post
Blackmores shares dropped more than 5% at one stage yesterday on the news CEO, Christine Holgate will leave the vitamins and supplementary products company in September to head up Australia Post. Blackmores shares fell to a day’s low of $89.95 before bouncing to close down 4.4% at $89.81. That took the year’s loss so far to more than 13%.
Read MoreBlackmores Down, But Not Out
A more confident tone in yesterday’s quarterly sales report from vitamins group, Blackmores (BKL) which suggests the company could be over the damage caused by uncertainty in its key markets in China.
Read MoreBlackmores Chinese Medicine
The virus that is China’s fickle demand for products such as coal, iron ore milk, baby milk, foods, vitamins and other so-called struck Blackmores (BKL) yesterday, sending the shares down more than 10% at the close.
Read MoreBlackmores Boom Fades
More pressure on Blackmores (BKL) and Bega Cheese (BGA) yesterday, continuing the pain triggered by Tuesday’s revelation by Bega of problems in the new joint venture with the vitamins group and weak trading forecast for the full financial year.
Read MoreBlackmores Slowdown Arrives
All good things must come to an end in the stockmarket. We have seen it with resources stocks, retailers, dairy companies and now the great China vitamin boom is on the verge of deflating, judging by the reception given to the 2015-16 profit report and outlook from market darling, Blackmores (BKL).
Read MoreAsian Buyers Boost Blackmores
Shares in vitamins group Blackmores (BKL) jumped 6% at one stage yesterday after the company revealed a strong rise in third quarter performance.
Read MoreBlackmores Booms
Vitamins group, Blackmores has been a headline grabber in the past year as its shares surged past $220 at the start of the year on strong demand for its products from Chinese buyers and moves by the company to enter the baby formula business.
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