Mylan NV (NASDAQ:MYL) Short Interest Up 7.0% in August

Mylan NV (NASDAQ:MYL) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 18,177,500 shares, an increase of 7.0% from the July 31st total of 16,990,800 shares. Based on an average trading volume of 7,870,000 shares, the short-interest ratio is currently 2.3 days. Currently, 3.5% of the shares of the stock are sold short.

In other Mylan news, Director Richard A. Mark acquired 4,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was bought at an average price of $20.97 per share, for a total transaction of $83,880.00. Following the acquisition, the director now owns 4,000 shares in the company, valued at $83,880. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert J. Coury acquired 49,859 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of $20.06 per share, with a total value of $1,000,171.54. Following the acquisition, the director now owns 947,194 shares in the company, valued at approximately $19,000,711.64. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 83,859 shares of company stock valued at $1,628,752. 0.81% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Mylan by 19.2% in the 2nd quarter. Vanguard Group Inc. now owns 56,048,375 shares of the company’s stock valued at $1,067,160,000 after buying an additional 9,026,215 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Mylan by 824.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,681,501 shares of the company’s stock worth $31,898,000 after purchasing an additional 1,499,579 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Mylan by 312.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,769,543 shares of the company’s stock worth $33,692,000 after purchasing an additional 1,340,643 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Mylan by 11.0% during the 2nd quarter. AQR Capital Management LLC now owns 11,247,227 shares of the company’s stock worth $213,473,000 after purchasing an additional 1,111,009 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Mylan by 15.0% during the 4th quarter. Geode Capital Management LLC now owns 7,875,204 shares of the company’s stock worth $215,460,000 after purchasing an additional 1,026,731 shares during the last quarter. 84.78% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on MYL. Citigroup set a $26.00 price target on shares of Mylan and gave the stock a “buy” rating in a report on Wednesday, July 31st. Cantor Fitzgerald cut their price target on shares of Mylan from $31.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, June 12th. BidaskClub upgraded shares of Mylan from a “sell” rating to a “hold” rating in a report on Thursday, June 20th. Credit Suisse Group restated a “buy” rating and set a $34.50 price target on shares of Mylan in a report on Wednesday, July 31st. Finally, Barclays began coverage on shares of Mylan in a report on Tuesday, June 11th. They set an “overweight” rating and a $26.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company. Mylan currently has a consensus rating of “Buy” and a consensus price target of $30.03.

Shares of NASDAQ:MYL traded down $0.55 during mid-day trading on Friday, reaching $21.69. 1,383,229 shares of the company were exchanged, compared to its average volume of 4,928,683. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.37 and a quick ratio of 0.77. The firm has a market cap of $11.47 billion, a price-to-earnings ratio of 4.74, a P/E/G ratio of 1.06 and a beta of 1.80. The firm’s 50-day simple moving average is $19.48 and its 200 day simple moving average is $22.11. Mylan has a 1 year low of $16.63 and a 1 year high of $39.59.

Mylan (NASDAQ:MYL) last posted its quarterly earnings data on Monday, July 29th. The company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.08. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Mylan had a net margin of 0.30% and a return on equity of 18.93%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $1.07 EPS. On average, research analysts forecast that Mylan will post 4.28 earnings per share for the current fiscal year.

Mylan Company Profile

Mylan N.V., together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic, branded-generic, brand-name, and over-the-counter (OTC) pharmaceutical products in North America, Europe, and internationally. It offers active pharmaceutical ingredients and finished dosage forms; and antiretroviral medicines to treat HIV/AIDS.

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