Mylan Inc. (NASDAQ:MYL) was the recipient of a large growth in short interest in September. As of September 15th, there was short interest totalling 25,313,358 shares, a growth of 17.7% from the August 31st total of 21,505,534 shares. Based on an average daily volume of 7,132,840 shares, the days-to-cover ratio is currently 3.5 days. Approximately 5.8% of the company’s stock are short sold.
In other news, CEO Heather M. Bresch sold 100,200 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $50.00, for a total value of $5,010,000.00. Following the completion of the sale, the chief executive officer now owns 828,318 shares of the company’s stock, valued at approximately $41,415,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of MYL. Virginia Retirement System bought a new stake in shares of Mylan during the first quarter worth $7,165,000. Pacad Investment Ltd. raised its stake in shares of Mylan by 23.5% in the first quarter. Pacad Investment Ltd. now owns 15,678 shares of the company’s stock worth $727,000 after buying an additional 2,988 shares in the last quarter. Dubuque Bank & Trust Co. raised its stake in shares of Mylan by 99.9% in the first quarter. Dubuque Bank & Trust Co. now owns 50,466 shares of the company’s stock worth $2,339,000 after buying an additional 25,224 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Mylan by 2.0% in the first quarter. Prudential Financial Inc. now owns 504,859 shares of the company’s stock worth $23,400,000 after buying an additional 10,030 shares in the last quarter. Finally, NF Trinity Capital Hong Kong Ltd bought a new stake in shares of Mylan during the first quarter worth $6,257,000. 60.20% of the stock is owned by institutional investors.
A number of research firms have recently weighed in on MYL. TheStreet cut Mylan from a “buy” rating to a “hold” rating in a research report on Wednesday. Leerink Swann reaffirmed a “buy” rating on shares of Mylan in a research report on Thursday, September 22nd. Argus set a $55.00 price target on Mylan and gave the stock a “buy” rating in a research report on Thursday, September 22nd. Sanford C. Bernstein set a $60.00 price target on Mylan and gave the stock a “buy” rating in a research report on Friday, September 23rd. Finally, Deutsche Bank AG set a $58.00 price target on Mylan and gave the stock a “buy” rating in a research report on Friday, September 23rd. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $54.76.
Mylan (NASDAQ:MYL) opened at 38.12 on Friday. The stock has a market cap of $20.39 billion, a price-to-earnings ratio of 24.13 and a beta of 1.25. Mylan has a 52 week low of $37.59 and a 52 week high of $55.51. The company has a 50 day moving average price of $42.90 and a 200 day moving average price of $44.47.
Mylan (NASDAQ:MYL) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.03. The company earned $2.56 billion during the quarter, compared to analyst estimates of $2.58 billion. Mylan had a net margin of 8.11% and a return on equity of 23.22%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 EPS. Analysts expect that Mylan will post $4.96 EPS for the current fiscal year.
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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