Mylan N.V. (MYL) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Mylan N.V. (NASDAQ:MYL) from a buy rating to a hold rating in a research report sent to investors on Wednesday, November 8th.

According to Zacks, “Mylan’s third-quarter results were dismal as the company missed on both earnings and sales estimates due to ongoing challenges in North America. The quarter experienced an accelerated decline in EpiPen sales due to the launch of an authorized generic as well as the contraction of the overall epinephrine auto-injector market. In a major boost, Mylan received FDA approval for a generic version of Copaxone 40mg. The company being one of the first filers, will also enjoy 180 days of exclusivity. However, the complete response letter from the FDA regarding its abbreviated new drug application ANDA for the generic version of asthma drug Advair Diskus was a setback. The FDA Committee had unanimously recommended the approval of biosimilar version of Herceptin. However, the anticipated FDA goal date set under the Biosimilar User Fee Act was deferred to December from September 2017. Shares have performed better than the industry so far in 2017.”

MYL has been the subject of a number of other research reports. Cowen Inc reissued a market perform rating and set a $36.00 target price (up previously from $30.00) on shares of Mylan in a research report on Thursday, October 5th. Mizuho reaffirmed a buy rating and set a $37.00 price objective on shares of Mylan in a research report on Tuesday, October 24th. Royal Bank Of Canada set a $41.00 price objective on shares of Mylan and gave the stock a hold rating in a research report on Sunday, July 16th. Citigroup Inc. set a $42.00 price objective on shares of Mylan and gave the stock a buy rating in a research report on Wednesday, October 4th. Finally, BidaskClub raised shares of Mylan from a strong sell rating to a sell rating in a research report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. Mylan currently has a consensus rating of Buy and a consensus target price of $41.49.

Mylan (MYL) traded down $0.91 during mid-day trading on Wednesday, hitting $36.46. 5,268,899 shares of the stock were exchanged, compared to its average volume of 5,937,962. The company has a market capitalization of $20,050.00, a PE ratio of 7.95, a P/E/G ratio of 2.05 and a beta of 1.38. Mylan has a 52-week low of $29.39 and a 52-week high of $45.87. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.46 and a quick ratio of 0.95.

Mylan (NASDAQ:MYL) last issued its quarterly earnings data on Monday, November 6th. The company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.10). The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.09 billion. Mylan had a net margin of 7.28% and a return on equity of 20.63%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.38 EPS. sell-side analysts forecast that Mylan will post 4.56 EPS for the current fiscal year.

Large investors have recently modified their holdings of the business. Meeder Asset Management Inc. raised its stake in shares of Mylan by 76.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,393 shares of the company’s stock worth $106,000 after purchasing an additional 1,475 shares during the period. BT Investment Management Ltd bought a new stake in shares of Mylan during the 3rd quarter worth $142,000. Global X Management Co. LLC raised its stake in shares of Mylan by 59.2% during the 2nd quarter. Global X Management Co. LLC now owns 4,801 shares of the company’s stock worth $186,000 after purchasing an additional 1,786 shares during the period. Doliver Capital Advisors LP bought a new stake in shares of Mylan during the 2nd quarter worth $201,000. Finally, Eagle Global Advisors LLC bought a new stake in shares of Mylan during the 2nd quarter worth $205,000. Institutional investors and hedge funds own 73.35% of the company’s stock.

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About Mylan

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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