Mylan N.V. (NASDAQ:MYL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, August 1st.
According to Zacks, “Mylan expects new product launches in the generics segment will propel the top-line. The FDA Oncologic Drugs Advisory Committee (ODAC) recently unanimously recommended approval of Mylan's biosimilar version of breast cancer drug Herceptin. Shares of Mylan have performed better than the industry so far in 2017. However, EpiPen woes continue as sales declined due to increased competition and entry of generics should impact sales. Pricing continues to impact results and the company projects mid-single digit price erosion globally for the year. In addition, Mylan received a complete response letter from the FDA regarding its ANDA for the generic version of asthma drug Advair Diskus. In Apr 2017, Mylan received a warning letter from the FDA for its manufacturing facility in India. The FDA cited significant violations of current good manufacturing practice (CGMP) regulations for finished pharmaceuticals in the warning letter.”
Other research analysts have also issued reports about the stock. Royal Bank Of Canada set a $41.00 price target on shares of Mylan N.V. and gave the company a “hold” rating in a research report on Saturday, May 13th. Cowen and Company reaffirmed a “market perform” rating and set a $43.00 price objective (down from $55.00) on shares of Mylan N.V. in a report on Sunday, May 21st. BidaskClub raised shares of Mylan N.V. from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. ValuEngine downgraded shares of Mylan N.V. from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, Deutsche Bank AG dropped their price objective on shares of Mylan N.V. from $52.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, April 18th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Mylan N.V. currently has a consensus rating of “Buy” and a consensus target price of $47.73.
Shares of Mylan N.V. (MYL) opened at 30.72 on Tuesday. The company has a 50-day moving average price of $36.12 and a 200 day moving average price of $38.80. The stock has a market capitalization of $16.47 billion, a P/E ratio of 24.83 and a beta of 1.27. Mylan N.V. has a 52 week low of $29.39 and a 52 week high of $49.09.
Mylan N.V. (NASDAQ:MYL) last released its quarterly earnings results on Wednesday, August 9th. The company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by $0.08. The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3 billion. Mylan N.V. had a net margin of 5.51% and a return on equity of 22.42%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 earnings per share. Analysts forecast that Mylan N.V. will post $4.52 earnings per share for the current fiscal year.
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In other Mylan N.V. news, insider Anthony Mauro sold 10,000 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $40.00, for a total transaction of $400,000.00. Following the completion of the transaction, the insider now owns 140,653 shares in the company, valued at $5,626,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Rajiv Malik sold 25,000 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $40.00, for a total transaction of $1,000,000.00. Following the transaction, the president now owns 799,855 shares of the company’s stock, valued at approximately $31,994,200. The disclosure for this sale can be found here. Company insiders own 0.69% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Advisors Capital Management LLC raised its stake in Mylan N.V. by 4.7% in the second quarter. Advisors Capital Management LLC now owns 86,329 shares of the company’s stock valued at $3,351,000 after buying an additional 3,854 shares during the period. Bank of The West raised its stake in shares of Mylan N.V. by 4.9% in the first quarter. Bank of The West now owns 72,582 shares of the company’s stock worth $2,830,000 after buying an additional 3,360 shares during the last quarter. Wade G W & Inc. raised its stake in shares of Mylan N.V. by 3.6% in the first quarter. Wade G W & Inc. now owns 6,156 shares of the company’s stock worth $240,000 after buying an additional 213 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in shares of Mylan N.V. by 508.8% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 73,842 shares of the company’s stock worth $2,867,000 after buying an additional 61,712 shares during the last quarter. Finally, Baird Financial Group Inc. raised its stake in shares of Mylan N.V. by 10.0% in the first quarter. Baird Financial Group Inc. now owns 756,355 shares of the company’s stock worth $29,490,000 after buying an additional 68,967 shares during the last quarter. Hedge funds and other institutional investors own 71.57% of the company’s stock.
About Mylan N.V.
Mylan N.V. is a global pharmaceutical company. The Company develops, licenses, manufactures, markets and distributes generic and branded generic products for resale by others; specialty pharmaceuticals, and active pharmaceutical ingredients (APIs). It operates through two segments: Generics and Specialty.
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