Mylan Inc. (MYL) Sees Significant Decrease in Short Interest
Mylan Inc. (NASDAQ:MYL) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 24,112,865 shares, a decrease of 11.8% from the October 14th total of 27,338,100 shares. Based on an average daily trading volume, of 5,762,842 shares, the days-to-cover ratio is currently 4.2 days. Currently, 5.5% of the shares of the stock are sold short.
Several analysts have issued reports on the company. Leerink Swann upped their target price on Mylan from $51.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, August 15th. TheStreet raised Mylan from a “hold” rating to a “buy” rating in a research note on Friday, August 12th. Zacks Investment Research lowered Mylan from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Bank of America Corp. reissued a “buy” rating and set a $70.00 price objective on shares of Mylan in a research note on Wednesday, August 24th. Finally, BTIG Research reissued a “buy” rating and set a $60.00 price objective on shares of Mylan in a research note on Tuesday, August 30th. Twelve investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $52.59.
Shares of Mylan (NASDAQ:MYL) opened at 37.93 on Friday. The stock has a 50 day moving average price of $37.79 and a 200-day moving average price of $42.50. Mylan has a 1-year low of $33.60 and a 1-year high of $55.51. The stock has a market capitalization of $19.86 billion, a PE ratio of 76.01 and a beta of 1.10.
Mylan (NASDAQ:MYL) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $1.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.45 by $0.07. Mylan had a net margin of 2.50% and a return on equity of 22.97%. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the previous year, the firm earned $1.43 EPS. Mylan’s revenue was up 13.4% compared to the same quarter last year. On average, analysts forecast that Mylan will post $4.79 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can acquired a new position in Mylan during the second quarter worth about $34,668,000. Strs Ohio boosted its position in Mylan by 4.5% in the second quarter. Strs Ohio now owns 268,295 shares of the company’s stock worth $11,601,000 after buying an additional 11,633 shares during the last quarter. Retirement Systems of Alabama boosted its position in Mylan by 1.7% in the second quarter. Retirement Systems of Alabama now owns 542,005 shares of the company’s stock worth $23,436,000 after buying an additional 9,305 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Mylan by 85.3% in the first quarter. Canada Pension Plan Investment Board now owns 10,425 shares of the company’s stock worth $483,000 after buying an additional 4,800 shares during the last quarter. Finally, Deerfield Management Co. boosted its position in Mylan by 73.5% in the first quarter. Deerfield Management Co. now owns 1,832,535 shares of the company’s stock worth $84,938,000 after buying an additional 776,535 shares during the last quarter. Institutional investors own 59.91% of the company’s stock.
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.
Receive News & Stock Ratings for Mylan Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mylan Inc. and related stocks with our FREE daily email newsletter.