Mylan N.V. (MYL) Issues Earnings Results, Misses Expectations By $0.08 EPS
Mylan N.V. (NASDAQ:MYL) released its quarterly earnings data on Wednesday. The company reported $1.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.18 by $0.08, Bloomberg Earnings reports. Mylan N.V. had a return on equity of 22.42% and a net margin of 5.51%. The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period last year, the company earned $1.16 earnings per share. The firm’s revenue was up 15.7% compared to the same quarter last year. Mylan N.V. updated its FY17 guidance to $4.30-4.70 EPS.
Shares of Mylan N.V. (NASDAQ MYL) traded down 5.2109% during trading on Friday, reaching $30.6074. 5,716,534 shares of the company traded hands. Mylan N.V. has a 1-year low of $29.58 and a 1-year high of $49.42. The stock’s 50 day moving average is $37.57 and its 200 day moving average is $39.05. The company has a market capitalization of $16.37 billion, a price-to-earnings ratio of 24.7432 and a beta of 1.27.
A number of brokerages have commented on MYL. Deutsche Bank AG reduced their target price on shares of Mylan N.V. from $52.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, April 18th. UBS AG reiterated a “buy” rating and issued a $46.00 target price (down from $50.00) on shares of Mylan N.V. in a report on Thursday. Morgan Stanley reduced their target price on shares of Mylan N.V. from $52.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday. Royal Bank Of Canada set a $41.00 target price on shares of Mylan N.V. and gave the stock a “hold” rating in a report on Saturday, May 13th. Finally, Zacks Investment Research upgraded shares of Mylan N.V. from a “sell” rating to a “hold” rating in a report on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $47.83.
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In other Mylan N.V. news, insider Anthony Mauro sold 10,000 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $40.00, for a total transaction of $400,000.00. Following the completion of the sale, the insider now directly owns 140,653 shares in the company, valued at $5,626,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Rajiv Malik sold 25,000 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $40.00, for a total value of $1,000,000.00. Following the sale, the president now owns 799,855 shares of the company’s stock, valued at $31,994,200. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company’s stock.
Large investors have recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of Mylan N.V. by 2.6% in the first quarter. Wellington Management Group LLP now owns 46,373,108 shares of the company’s stock valued at $1,808,088,000 after buying an additional 1,165,852 shares in the last quarter. BlackRock Inc. raised its stake in Mylan N.V. by 4.5% in the second quarter. BlackRock Inc. now owns 40,574,158 shares of the company’s stock worth $1,575,089,000 after buying an additional 1,751,515 shares during the period. Vanguard Group Inc. raised its stake in Mylan N.V. by 3.9% in the first quarter. Vanguard Group Inc. now owns 29,348,816 shares of the company’s stock worth $1,144,310,000 after buying an additional 1,090,791 shares during the period. State Street Corp raised its stake in Mylan N.V. by 1.2% in the first quarter. State Street Corp now owns 20,176,564 shares of the company’s stock worth $786,700,000 after buying an additional 234,521 shares during the period. Finally, Pzena Investment Management LLC raised its stake in Mylan N.V. by 69.9% in the second quarter. Pzena Investment Management LLC now owns 12,339,687 shares of the company’s stock worth $479,027,000 after buying an additional 5,077,371 shares during the period. Institutional investors own 70.19% of the company’s stock.
About Mylan N.V.
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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