Mylan Inc. (NASDAQ:MYL) issued an update on its FY16 earnings guidance on Wednesday morning. The company provided EPS guidance of $4.70-$4.90 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.80. Mylan also updated its FY17 guidance to $6.00 EPS.

Mylan Inc. (NASDAQ:MYL) opened at 38.28 on Friday. The firm has a market cap of $20.48 billion, a PE ratio of 24.23 and a beta of 1.10. The company has a 50-day moving average price of $37.92 and a 200-day moving average price of $42.55. Mylan Inc. has a one year low of $33.60 and a one year high of $55.51.

Mylan (NASDAQ:MYL) last posted its quarterly earnings results on Wednesday, November 9th. The company reported $1.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by $0.07. The company earned $3.06 billion during the quarter, compared to the consensus estimate of $3.12 billion. Mylan had a net margin of 8.11% and a return on equity of 23.22%. Mylan’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.43 EPS. Equities analysts predict that Mylan Inc. will post $4.79 earnings per share for the current fiscal year.

Several analysts have issued reports on the stock. RBC Capital Markets reissued a sector perform rating and set a $44.00 target price (down from $48.00) on shares of Mylan in a research note on Thursday. Barclays PLC reissued a hold rating and set a $44.00 target price on shares of Mylan in a research note on Thursday. Mizuho assumed coverage on shares of Mylan in a research note on Wednesday, October 26th. They set a buy rating and a $49.00 target price on the stock. JPMorgan Chase & Co. set a $52.00 target price on shares of Mylan and gave the company a buy rating in a research note on Monday, October 10th. Finally, BTIG Research reissued a buy rating and set a $55.00 target price on shares of Mylan in a research note on Monday, October 10th. Twelve research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Mylan currently has an average rating of Buy and an average target price of $52.59.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec raised its position in Mylan by 96.3% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 227,720 shares of the company’s stock valued at $9,847,000 after buying an additional 111,700 shares during the period. Euclid Advisors LLC raised its position in Mylan by 101.3% in the second quarter. Euclid Advisors LLC now owns 16,016 shares of the company’s stock valued at $693,000 after buying an additional 8,060 shares during the period. Cubist Systematic Strategies LLC raised its position in Mylan by 52.2% in the second quarter. Cubist Systematic Strategies LLC now owns 16,641 shares of the company’s stock valued at $720,000 after buying an additional 5,709 shares during the period. AQR Capital Management LLC raised its position in Mylan by 121.1% in the second quarter. AQR Capital Management LLC now owns 1,392,972 shares of the company’s stock valued at $60,232,000 after buying an additional 763,026 shares during the period. Finally, Paloma Partners Management Co raised its position in Mylan by 526.5% in the second quarter. Paloma Partners Management Co now owns 27,447 shares of the company’s stock valued at $1,187,000 after buying an additional 23,066 shares during the period. 59.91% of the stock is owned by hedge funds and other institutional investors.

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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