Mylan (MYL) Sees Significant Decrease in Short Interest

Mylan (NASDAQ:MYL) was the target of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 19,118,671 shares, a drop of 17.4% from the January 12th total of 23,140,267 shares. Based on an average daily volume of 5,968,846 shares, the short-interest ratio is currently 3.2 days. Currently, 3.8% of the shares of the company are short sold.

In related news, CEO Heather M. Bresch sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $45.00, for a total value of $3,375,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.69% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norinchukin Bank The increased its holdings in shares of Mylan by 7.4% during the fourth quarter. Norinchukin Bank The now owns 42,877 shares of the company’s stock worth $1,814,000 after purchasing an additional 2,961 shares during the period. Synovus Financial Corp increased its holdings in shares of Mylan by 7.1% during the fourth quarter. Synovus Financial Corp now owns 30,921 shares of the company’s stock worth $1,309,000 after purchasing an additional 2,045 shares during the period. American International Group Inc. increased its holdings in shares of Mylan by 12.5% during the fourth quarter. American International Group Inc. now owns 213,868 shares of the company’s stock worth $9,049,000 after purchasing an additional 23,681 shares during the period. TCW Group Inc. bought a new position in shares of Mylan during the fourth quarter worth approximately $579,000. Finally, Wedbush Securities Inc. bought a new position in shares of Mylan during the fourth quarter worth approximately $535,000. 75.00% of the stock is currently owned by institutional investors.

Mylan (MYL) opened at $39.28 on Friday. The firm has a market cap of $21,698.85, a PE ratio of 24.40, a price-to-earnings-growth ratio of 1.09 and a beta of 1.35. The company has a quick ratio of 0.95, a current ratio of 1.46 and a debt-to-equity ratio of 1.05. Mylan has a fifty-two week low of $29.39 and a fifty-two week high of $47.82.

Mylan (NASDAQ:MYL) last released its quarterly earnings results on Monday, November 6th. The company reported $1.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.10). Mylan had a net margin of 7.28% and a return on equity of 20.63%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the prior year, the company earned $1.38 earnings per share. The firm’s revenue was down 2.3% compared to the same quarter last year. equities research analysts anticipate that Mylan will post 4.55 earnings per share for the current year.

Several equities research analysts recently issued reports on the stock. BidaskClub downgraded shares of Mylan from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 26th. Susquehanna Bancshares reiterated a “positive” rating and issued a $55.00 target price (up from $47.00) on shares of Mylan in a research note on Thursday, January 25th. Zacks Investment Research upgraded shares of Mylan from a “sell” rating to a “hold” rating in a research note on Tuesday, January 16th. Guggenheim assumed coverage on shares of Mylan in a research note on Tuesday, December 12th. They issued a “buy” rating and a $59.00 target price for the company. Finally, Wells Fargo & Co set a $43.00 target price on shares of Mylan and gave the company a “hold” rating in a research note on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $44.65.

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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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