Equities research analysts forecast that Mylan NV (NASDAQ:MYL) will announce $3.04 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Mylan’s earnings, with the lowest sales estimate coming in at $2.99 billion and the highest estimate coming in at $3.12 billion. Mylan posted sales of $2.86 billion during the same quarter last year, which would indicate a positive year over year growth rate of 6.3%. The firm is expected to report its next earnings results on Monday, November 4th.
On average, analysts expect that Mylan will report full year sales of $11.68 billion for the current fiscal year, with estimates ranging from $11.54 billion to $11.92 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $12.13 billion, with estimates ranging from $11.99 billion to $12.29 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Mylan.
Mylan (NASDAQ:MYL) last posted its earnings results on Monday, July 29th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.08. Mylan had a net margin of 0.30% and a return on equity of 18.93%. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the prior year, the business posted $1.07 EPS. The business’s revenue was up 1.5% compared to the same quarter last year.
MYL has been the subject of several research reports. SunTrust Banks increased their price target on shares of Mylan from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday. Evercore ISI restated a “buy” rating on shares of Mylan in a research report on Friday, August 9th. Credit Suisse Group restated a “buy” rating and set a $34.50 price target on shares of Mylan in a research report on Wednesday, July 31st. BidaskClub upgraded shares of Mylan from a “sell” rating to a “hold” rating in a research report on Thursday, June 20th. Finally, Citigroup set a $26.00 price target on shares of Mylan and gave the company a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company. Mylan currently has a consensus rating of “Buy” and an average target price of $30.03.
In other Mylan news, Director Robert J. Coury acquired 49,859 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average cost of $20.06 per share, with a total value of $1,000,171.54. Following the completion of the acquisition, the director now directly owns 947,194 shares in the company, valued at $19,000,711.64. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Melina E. Higgins acquired 20,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were acquired at an average cost of $17.68 per share, for a total transaction of $353,600.00. Following the completion of the acquisition, the director now owns 33,120 shares of the company’s stock, valued at $585,561.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 83,859 shares of company stock worth $1,628,752. Insiders own 0.82% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MYL. Geode Capital Management LLC lifted its holdings in Mylan by 15.0% during 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. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Mylan by 63.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 262,758 shares of the company’s stock worth $7,446,000 after buying an additional 101,541 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Mylan by 5.1% in the first quarter. Victory Capital Management Inc. now owns 87,655 shares of the company’s stock worth $2,484,000 after buying an additional 4,288 shares in the last quarter. South Dakota Investment Council lifted its holdings in shares of Mylan by 6.3% in the first quarter. South Dakota Investment Council now owns 43,700 shares of the company’s stock worth $1,238,000 after buying an additional 2,600 shares in the last quarter. Finally, Stephens Inc. AR lifted its holdings in shares of Mylan by 10.1% in the first quarter. Stephens Inc. AR now owns 13,378 shares of the company’s stock worth $379,000 after buying an additional 1,231 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.
MYL traded up $0.11 during trading on Monday, hitting $21.80. 2,653,825 shares of the company traded hands, compared to its average volume of 6,760,755. The firm has a market cap of $11.47 billion, a P/E ratio of 4.76, a price-to-earnings-growth ratio of 1.06 and a beta of 1.80. The stock’s fifty day moving average is $19.68 and its 200 day moving average is $21.97. The company has a quick ratio of 0.77, a current ratio of 1.37 and a debt-to-equity ratio of 1.15. Mylan has a one year low of $16.63 and a one year high of $39.59.
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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