Mylan (NASDAQ:MYL) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Mylan (NASDAQ:MYL) announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.03, MarketWatch Earnings reports. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.70 billion. Mylan had a return on equity of 18.96% and a net margin of 2.14%. Mylan’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 earnings per share. Mylan updated its FY19 guidance to $3.80-4.80 EPS.

Shares of NASDAQ MYL opened at $17.21 on Friday. The company has a market capitalization of $9.23 billion, a P/E ratio of 3.76, a P/E/G ratio of 0.93 and a beta of 1.44. Mylan has a 12-month low of $17.13 and a 12-month high of $42.50. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.85 and a current ratio of 1.51.

In related news, insider Paul Campbell sold 11,533 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $27.50, for a total value of $317,157.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.81% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Martingale Asset Management L P acquired a new position in shares of Mylan during the 4th quarter valued at $1,877,000. Investors Research Corp acquired a new position in shares of Mylan during the 1st quarter valued at $186,000. First Hawaiian Bank increased its position in shares of Mylan by 560.4% during the 4th quarter. First Hawaiian Bank now owns 2,886 shares of the company’s stock valued at $79,000 after purchasing an additional 2,449 shares during the period. Piedmont Investment Advisors Inc. acquired a new position in shares of Mylan in the 4th quarter worth $210,000. Finally, NumerixS Investment Technologies Inc acquired a new position in shares of Mylan in the 4th quarter worth $446,000. Hedge funds and other institutional investors own 83.80% of the company’s stock.

A number of analysts have commented on the company. UBS Group decreased their target price on Mylan to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday. BidaskClub downgraded Mylan from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. Mizuho restated a “hold” rating on shares of Mylan in a research report on Tuesday, May 14th. Morgan Stanley set a $32.00 price objective on Mylan and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, Raymond James set a $31.00 price objective on Mylan and gave the company a “buy” rating in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $36.95.

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Mylan Company Profile

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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Earnings History for Mylan (NASDAQ:MYL)

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