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  "documentTitle": "Bristol-Myers Squibb Company (BMY)",
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  "authorName": "Starboard Value",
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  "presentationDate": "2019-03-18 00:00:00",
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      "text": "Wall Street analysts have historically been overly optimistic in their estimates for Celgene's products.",
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      "text": "Indexed 2018 Actual Revenue by Product vs. Wall Street Consensus Estimates",
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      "text": "Below, we index actual 2018 Celgene product revenues against initial Wall Street consensus estimates for 2018.(1)",
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      "text": "revenue estimate accuracy",
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      "text": "Wall Street analysts have historically been overly optimistic in their estimates for Celgene's products.",
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      "text": "Source: Public company filings, Bloomberg, Wall Street research. (1) We compared actual 2018 Celgene revenues by product to the earliest Wall Street consensus estimates available on Bloomberg. Bloomberg lists consensus estimates for 23 Celgene products, of which 14 had 2018 revenue estimates. The chart above compares those 14 products to actual performance.",
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