Brokerages predict that Mylan (NASDAQ:MYL) will report sales of $2.83 billion for the current quarter, Zacks reports. Three analysts have made estimates for Mylan’s earnings. The highest sales estimate is $2.90 billion and the lowest is $2.78 billion. Mylan reported sales of $2.72 billion during the same quarter last year, which would suggest a positive year over year growth rate of 4%. The company is scheduled to announce its next earnings results on Wednesday, May 9th.
On average, analysts expect that Mylan will report full-year sales of $2.83 billion for the current fiscal year, with estimates ranging from $12.39 billion to $12.56 billion. For the next financial year, analysts forecast that the firm will report sales of $13.05 billion per share, with estimates ranging from $12.80 billion to $13.24 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Mylan.
Mylan (NASDAQ:MYL) last issued its earnings results on Wednesday, February 28th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.02. Mylan had a net margin of 5.84% and a return on equity of 19.14%. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter last year, the business posted $1.57 earnings per share. The company’s quarterly revenue was down .9% on a year-over-year basis.
A number of analysts have weighed in on MYL shares. Cantor Fitzgerald set a $41.00 target price on shares of Mylan and gave the company a “hold” rating in a research report on Tuesday, December 26th. Zacks Investment Research lowered shares of Mylan from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. UBS Group set a $46.00 target price on shares of Mylan and gave the company a “buy” rating in a research report on Monday, December 4th. Susquehanna Bancshares reiterated a “positive” rating and set a $55.00 price target (up previously from $47.00) on shares of Mylan in a report on Thursday, January 25th. Finally, Morgan Stanley upgraded shares of Mylan from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $39.00 to $50.00 in a report on Tuesday, March 6th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Mylan currently has an average rating of “Buy” and an average price target of $45.92.
In related news, President Rajiv Malik sold 50,000 shares of Mylan stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $40.91, for a total transaction of $2,045,500.00. Following the completion of the transaction, the president now owns 503,751 shares of the company’s stock, valued at $20,608,453.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert J. Coury sold 150,000 shares of Mylan stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $40.10, for a total transaction of $6,015,000.00. The disclosure for this sale can be found here. Insiders have sold 344,287 shares of company stock valued at $14,409,960 in the last three months. 0.69% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Greenlight Capital Inc. increased its stake in Mylan by 0.4% in the third quarter. Greenlight Capital Inc. now owns 10,744,307 shares of the company’s stock valued at $337,048,000 after purchasing an additional 42,600 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Mylan by 30.3% in the fourth quarter. Bank of New York Mellon Corp now owns 5,334,789 shares of the company’s stock valued at $225,715,000 after purchasing an additional 1,239,089 shares in the last quarter. Orbimed Advisors LLC increased its stake in Mylan by 20.9% in the third quarter. Orbimed Advisors LLC now owns 3,601,100 shares of the company’s stock valued at $112,967,000 after purchasing an additional 621,900 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Mylan by 20.8% in the third quarter. Dimensional Fund Advisors LP now owns 3,553,480 shares of the company’s stock valued at $111,450,000 after purchasing an additional 612,513 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Mylan in the fourth quarter valued at $137,023,000. 80.35% of the stock is owned by institutional investors and hedge funds.
Shares of Mylan (MYL) opened at $42.51 on Friday. Mylan has a 52-week low of $29.39 and a 52-week high of $47.82. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.13 and a quick ratio of 0.73. The firm has a market cap of $21,630.00, a P/E ratio of 32.70, a price-to-earnings-growth ratio of 1.33 and a beta of 1.35.
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Mylan Company Profile
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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