Mylan (MYL) Shares Gap Up Following Analyst Upgrade

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Mylan NV (NASDAQ:MYL)’s share price gapped up prior to trading on Wednesday after ValuEngine upgraded the stock from a strong sell rating to a sell rating. The stock had previously closed at $38.00, but opened at $36.43. Mylan shares last traded at $36.22, with a volume of 572088 shares changing hands.

Several other equities analysts have also recently commented on MYL. BidaskClub cut shares of Mylan from a “hold” rating to a “sell” rating in a research report on Friday, July 13th. Wells Fargo & Co reissued a “hold” rating on shares of Mylan in a research report on Wednesday, July 25th. Mizuho reissued a “buy” rating and issued a $54.00 price target on shares of Mylan in a research report on Wednesday, August 8th. Cantor Fitzgerald reissued a “hold” rating and issued a $41.00 price target on shares of Mylan in a research report on Wednesday, August 8th. Finally, Cowen reissued a “hold” rating and issued a $31.00 price target on shares of Mylan in a research report on Thursday, August 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $46.87.

Several institutional investors have recently added to or reduced their stakes in MYL. State of Alaska Department of Revenue lifted its position in Mylan by 5.3% in the third quarter. State of Alaska Department of Revenue now owns 74,135 shares of the company’s stock valued at $2,712,000 after acquiring an additional 3,707 shares during the last quarter. Bellevue Group AG lifted its position in Mylan by 114.7% in the second quarter. Bellevue Group AG now owns 502,350 shares of the company’s stock valued at $18,155,000 after acquiring an additional 268,400 shares during the last quarter. Burney Co. lifted its position in Mylan by 18.4% in the second quarter. Burney Co. now owns 128,245 shares of the company’s stock valued at $4,635,000 after acquiring an additional 19,914 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in Mylan by 12.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,237,468 shares of the company’s stock valued at $80,863,000 after acquiring an additional 253,082 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Mylan by 16.7% in the second quarter. Van ECK Associates Corp now owns 315,905 shares of the company’s stock valued at $11,417,000 after acquiring an additional 45,277 shares during the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.

The stock has a market cap of $16.33 billion, a price-to-earnings ratio of 7.97, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.77 and a current ratio of 1.29.

Mylan (NASDAQ:MYL) last announced its quarterly earnings results on Monday, November 5th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.06. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.91 billion. Mylan had a net margin of 3.90% and a return on equity of 18.48%. Mylan’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.10 earnings per share. As a group, analysts anticipate that Mylan NV will post 4.62 EPS for the current fiscal year.

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Mylan Company Profile (NASDAQ:MYL)

Mylan N.V., together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic, brand name, and over-the-counter (OTC) products worldwide. The company operates through three segments: North America, Europe, and Rest of World. It offers pharmaceutical products in tablet, capsule, injectable, transdermal patch, gel, nebulized, and cream or ointment forms.

See Also: Cash Flow

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