Bristol-Myers Squibb Company (NYSE:BMY) shares increased 1.06% in last trading session and ended the day at $63.08. “Our second quarter and year-to-date performance demonstrate continued progress in shifting our product mix and driving growth in our higher value products”. 1,306,465 shares of the company’s stock traded hands. For the week, the shares have posted returns of 4.09%.A block trade registered during the day has revealed $0.98 million in upticks and $3.7 million in downticks. Profit declined 22% from the year-earlier quarter to 38 cents a share, a penny below analysts’ consensus, according to Thomson Reuters. Net income grew by $3.1 million to $12.9 million, with EPS reaching $.72. Revenue rose 19% to $194 million, about $1 million shy of consensus.
Advertisement
Analysts said Hong Kong’s market suffered from the negative implications of yuan devaluation, the weakening economic outlook and the imminent U.S. interest rate hike, hammering sectors including airlines, property and autos. WuXi PharmaTech has a 52-week low of $32.40 and a 52-week high of $46.14. The stock now has an average rating of “Hold” and an average target price of $38.65.
Each ADS of WuXi PharmaTech represents eight shares and a 16.5% premium over the closing price of $39.50 per ADS as quoted by the New York Stock Exchange on 29 April.
Advertisement
A number of Chinese companies have received such buyout offers from domestic players in the last couple months, including JA Solar Holdings (NASDAQ:JASO), Mindray Medical (NYSE:MR), 21Vianet (NASDAQ:VNET) and Qihoo 360 (NYSE:QIHU). (NYSE:WX). This number is based on the mean estimate from the 4 research firms that recently issued reports on the company. The stock has a market capitalization of $3.11 billion and a PE ratio of 32.25. In the past six months, there is a change of 0% in the total insider ownership. (WuXi) is a pharmaceutical, biotechnology and medical device research and development (R&D) outsourcing company, with operations in People’s Republic of China and the United States. As a research- driven and customer-focused company, WuXi PharmaTech provides pharmaceutical and biotechnology companies a broad and integrated portfolio of laboratory and research manufacturing services throughout the drug discovery and development process. The Company services are designed to help customers in shortening the cycle of drug. The Company has two segments: Laboratory services and Manufacturing services segment.
