According to Zacks, “Mylan received a significant boost, when the FDA approved its generic version of Advair Diskus — WixelaInhub — following a few setbacks. The biosimilars portfolio is also gaining traction with a few important approvals. However, Mylan’s generic business is experiencing a slowdown. The company proactively discontinued a number of products along with transferring some to other sites. These have led to a temporary disruption in the supply of certain products and reduced volumes in North America generic sales. The FDA approved rival Teva Pharmaceutical’s generic version of EpiPen and EpiPen Jr, which, in turn, will negatively impact sales further. Moreover, slower-than-expected uptake of generic Copaxone, even after reducing the price by more than 60%, adversely impacted sales in North America. Shares have underperformed the industry in the past six months.”
A number of other brokerages have also weighed in on MYL. Mizuho reaffirmed a “neutral” rating on shares of Mylan in a report on Thursday, January 31st. Wells Fargo & Co dropped their price objective on Mylan from $40.00 to $33.00 and set an “outperform” rating on the stock in a report on Wednesday, February 27th. BMO Capital Markets upped their price objective on Mylan to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, February 27th. They noted that the move was a valuation call. Sanford C. Bernstein lowered Mylan from an “outperform” rating to a “market perform” rating and set a $33.00 price objective on the stock. in a report on Wednesday, February 27th. Finally, BTIG Research dropped their price objective on Mylan to $35.00 and set a “buy” rating on the stock in a report on Wednesday, February 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $39.89.
Mylan (NASDAQ:MYL) last released its quarterly earnings results on Tuesday, February 26th. The company reported $1.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.03). Mylan had a return on equity of 19.06% and a net margin of 3.08%. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter last year, the company earned $1.43 EPS. Mylan’s revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mylan will post 4.38 EPS for the current fiscal year.
In other Mylan news, insider Paul Campbell sold 11,533 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $27.50, for a total value of $317,157.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.81% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Mylan by 2.6% in the fourth quarter. BlackRock Inc. now owns 39,965,771 shares of the company’s stock valued at $1,095,061,000 after purchasing an additional 1,018,811 shares during the last quarter. Vanguard Group Inc grew its holdings in Mylan by 1.4% in the third quarter. Vanguard Group Inc now owns 35,774,112 shares of the company’s stock valued at $1,309,333,000 after purchasing an additional 506,649 shares during the last quarter. Geode Capital Management LLC grew its holdings in Mylan by 15.0% in the fourth quarter. Geode Capital Management LLC now owns 7,875,204 shares of the company’s stock valued at $215,460,000 after purchasing an additional 1,026,731 shares during the last quarter. Norges Bank acquired a new stake in Mylan in the fourth quarter valued at $169,463,000. Finally, Oregon Public Employees Retirement Fund grew its holdings in Mylan by 2,715.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,145,628 shares of the company’s stock valued at $224,000 after purchasing an additional 5,927,314 shares during the last quarter. 83.36% of the stock is currently owned by institutional investors.
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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