Mylan N.V. (NASDAQ:MYL) was the recipient of a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 20,762,241 shares, a decline of 7.5% from the July 31st total of 22,447,504 shares. Currently, 4.1% of the company’s stock are short sold. Based on an average daily volume of 12,720,095 shares, the days-to-cover ratio is currently 1.6 days.
A number of hedge funds and other institutional investors have recently made changes to their positions in MYL. BlackRock Inc. boosted its position in Mylan N.V. by 3,447.5% during the first quarter. BlackRock Inc. now owns 38,822,643 shares of the company’s stock worth $1,513,696,000 after acquiring an additional 37,728,274 shares during the last quarter. Pzena Investment Management LLC acquired a new position in shares of Mylan N.V. in the 1st quarter valued at $283,158,000. Vanguard Group Inc. boosted its holdings in shares of Mylan N.V. by 12.0% in the 2nd quarter. Vanguard Group Inc. now owns 32,880,790 shares of the company’s stock valued at $1,276,432,000 after purchasing an additional 3,531,974 shares during the last quarter. TIAA CREF Investment Management LLC boosted its holdings in shares of Mylan N.V. by 187.3% in the 1st quarter. TIAA CREF Investment Management LLC now owns 4,315,668 shares of the company’s stock valued at $168,268,000 after purchasing an additional 2,813,653 shares during the last quarter. Finally, Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management acquired a new position in shares of Mylan N.V. in the 2nd quarter valued at $84,364,000. Hedge funds and other institutional investors own 71.97% of the company’s stock.
MYL has been the subject of several recent analyst reports. Zacks Investment Research upgraded Mylan N.V. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Barclays PLC upgraded Mylan N.V. from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $47.00 to $50.00 in a research report on Monday, May 22nd. Royal Bank Of Canada set a $41.00 price objective on Mylan N.V. and gave the company a “hold” rating in a research report on Sunday, July 16th. Citigroup Inc. upgraded Mylan N.V. from a “neutral” rating to a “buy” rating and upped their price objective for the company from $36.00 to $42.00 in a research report on Wednesday, August 16th. Finally, Cowen and Company reiterated a “market perform” rating and set a $43.00 price objective (down previously from $55.00) on shares of Mylan N.V. in a research report on Sunday, May 21st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $43.43.
Mylan N.V. (MYL) traded down 2.56% during trading on Friday, hitting $32.03. The stock had a trading volume of 20,184,738 shares. The firm’s 50-day moving average price is $32.33 and its 200-day moving average price is $37.58. The company has a market cap of $17.18 billion, a price-to-earnings ratio of 25.89 and a beta of 1.31. Mylan N.V. has a 52-week low of $29.39 and a 52-week high of $45.87.
Mylan N.V. (NASDAQ:MYL) last announced its earnings results on Wednesday, August 9th. The company reported $1.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.18 by ($0.08). Mylan N.V. had a return on equity of 22.42% and a net margin of 5.51%. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the business posted $1.16 EPS. The firm’s revenue was up 15.7% compared to the same quarter last year. Analysts predict that Mylan N.V. will post $4.52 EPS for the current fiscal year.
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Mylan N.V. 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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