Mylan NV (MYL) Expected to Post Quarterly Sales of $2.96 Billion

Wall Street brokerages expect that Mylan NV (NASDAQ:MYL) will report $2.96 billion in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Mylan’s earnings. The lowest sales estimate is $2.91 billion and the highest is $3.01 billion. Mylan reported sales of $2.99 billion in the same quarter last year, which indicates a negative year over year growth rate of 1%. The business is expected to report its next earnings report on Monday, November 5th.

According to Zacks, analysts expect that Mylan will report full year sales of $11.65 billion for the current year, with estimates ranging from $11.51 billion to $11.84 billion. For the next financial year, analysts forecast that the business will post sales of $12.22 billion, with estimates ranging from $11.95 billion to $12.47 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Mylan.

Mylan (NASDAQ:MYL) last issued its quarterly earnings results on Wednesday, August 8th. The company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.15). Mylan had a net margin of 3.90% and a return on equity of 18.48%. The firm had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the prior year, the company earned $1.10 EPS. The firm’s quarterly revenue was down 5.2% on a year-over-year basis.

A number of analysts recently issued reports on the company. BidaskClub cut Mylan from a “buy” rating to a “hold” rating in a report on Friday, June 22nd. Cantor Fitzgerald set a $41.00 price objective on Mylan and gave the stock a “hold” rating in a report on Friday, June 29th. ValuEngine raised Mylan from a “sell” rating to a “hold” rating in a report on Wednesday, June 13th. Wells Fargo & Co reissued a “hold” rating on shares of Mylan in a report on Wednesday, July 25th. Finally, Guggenheim reissued a “buy” rating and set a $59.00 price objective on shares of Mylan in a report on Thursday, June 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $48.31.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. James Investment Research Inc. grew its position in Mylan by 9.5% during the 2nd quarter. James Investment Research Inc. now owns 16,915 shares of the company’s stock worth $611,000 after acquiring an additional 1,470 shares during the last quarter. Sumitomo Life Insurance Co. grew its position in Mylan by 4.1% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 42,775 shares of the company’s stock worth $1,546,000 after acquiring an additional 1,679 shares during the last quarter. Alerus Financial NA grew its position in Mylan by 1.6% during the 2nd quarter. Alerus Financial NA now owns 111,011 shares of the company’s stock worth $4,011,000 after acquiring an additional 1,697 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Mylan by 8.5% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 21,998 shares of the company’s stock worth $794,000 after acquiring an additional 1,726 shares during the last quarter. Finally, Natixis Advisors L.P. grew its position in Mylan by 2.6% during the 1st quarter. Natixis Advisors L.P. now owns 70,253 shares of the company’s stock worth $2,892,000 after acquiring an additional 1,781 shares during the last quarter. Institutional investors and hedge funds own 82.33% of the company’s stock.

Shares of NASDAQ MYL traded down $0.74 during trading on Thursday, reaching $35.29. 7,283,942 shares of the stock traded hands, compared to its average volume of 4,658,749. Mylan has a 52-week low of $34.72 and a 52-week high of $47.82. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.29 and a quick ratio of 0.77. The stock has a market capitalization of $18.87 billion, a PE ratio of 7.74, a P/E/G ratio of 1.16 and a beta of 1.43.

About Mylan

Mylan N.V., together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic, brand name, and over-the-counter (OTC) products worldwide. The company operates through three segments: North America, Europe, and Rest of World. It offers pharmaceutical products in tablet, capsule, injectable, transdermal patch, gel, nebulized, and cream or ointment forms.

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