Analysts Anticipate Mylan (MYL) Will Announce Quarterly Sales of $3.05 Billion
Analysts expect that Mylan (NASDAQ:MYL) will announce $3.05 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Mylan’s earnings, with estimates ranging from $2.96 billion to $3.19 billion. Mylan reported sales of $2.56 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 19.1%. The business is expected to report its next quarterly earnings results on Tuesday, August 8th.
On average, analysts expect that Mylan will report full-year sales of $3.05 billion for the current financial year, with estimates ranging from $12.29 billion to $12.61 billion. For the next financial year, analysts expect that the company will post sales of $13.1 billion per share, with estimates ranging from $12.97 billion to $13.3 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Mylan.
Mylan (NASDAQ:MYL) last issued its quarterly earnings data on Wednesday, May 10th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Mylan had a net margin of 2.50% and a return on equity of 22.04%. The business’s revenue was up 24.1% on a year-over-year basis. During the same period last year, the company earned $0.76 earnings per share.
MYL has been the topic of a number of recent research reports. Mizuho reissued a “buy” rating and set a $53.00 target price on shares of Mylan in a research report on Thursday, March 30th. Vetr downgraded Mylan from a “strong-buy” rating to a “buy” rating and set a $44.68 target price on the stock. in a research report on Tuesday, February 14th. Deutsche Bank AG decreased their target price on Mylan from $52.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, April 18th. Barclays PLC reissued an “equal weight” rating and set a $47.00 target price (up from $44.00) on shares of Mylan in a research report on Saturday, March 11th. Finally, Zacks Investment Research raised Mylan from a “sell” rating to a “hold” rating in a research report on Monday, February 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $51.28.
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In other Mylan news, major shareholder Laboratories Abbott sold 44,000,000 shares of Mylan stock in a transaction that occurred on Thursday, March 23rd. The stock was sold at an average price of $41.60, for a total transaction of $1,830,400,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.71% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in MYL. First Personal Financial Services increased its position in shares of Mylan by 33.2% in the first quarter. First Personal Financial Services now owns 2,733 shares of the company’s stock valued at $107,000 after buying an additional 681 shares during the last quarter. Kernodle & Katon Asset Management Group LLC increased its position in shares of Mylan by 4.7% in the third quarter. Kernodle & Katon Asset Management Group LLC now owns 2,884 shares of the company’s stock valued at $110,000 after buying an additional 129 shares during the last quarter. Global X Management Co. LLC increased its position in shares of Mylan by 91.6% in the first quarter. Global X Management Co. LLC now owns 3,015 shares of the company’s stock valued at $118,000 after buying an additional 1,441 shares during the last quarter. Ropes Wealth Advisors LLC acquired a new position in shares of Mylan during the first quarter valued at approximately $136,000. Finally, Mosaic Family Wealth LLC increased its position in shares of Mylan by 12.5% in the third quarter. Mosaic Family Wealth LLC now owns 3,600 shares of the company’s stock valued at $137,000 after buying an additional 400 shares during the last quarter. 60.89% of the stock is currently owned by institutional investors and hedge funds.
Mylan (NASDAQ:MYL) traded down 0.28% on Friday, reaching $39.72. 3,974,189 shares of the company traded hands. The stock’s 50 day moving average price is $38.18 and its 200 day moving average price is $38.85. The company has a market capitalization of $21.29 billion, a PE ratio of 39.68 and a beta of 1.14. Mylan has a one year low of $33.60 and a one year high of $50.40.
Mylan 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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