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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Blackmores Limited
Blackmores is Australia’s leading natural health company. Based on the vision of our founder Maurice Blackmore (1906-1977), we are passionate about natural health and inspiring people to take control of and invest in their wellbeing. We develop high quality products and services that deliver a more natural approach to health, based on our expertise in vitamins, minerals, herbs and nutrients.
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News
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.
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Bega, 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.
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Blackmores 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.
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Founder 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.
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Analyst Views
BKL – Credit Suisse rates the stock as Neutral
Neutral rating and $90 target price retained.
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BKL – Citi rates the stock as Sell
The Sell rating and target price of $73.16 are retained.
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BKL – 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.
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BKL – 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.
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BKL – 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.
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