Mylan NV (NASDAQ:MYL) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 9,808,231 shares, a decrease of 18.6% from the October 15th total of 12,047,191 shares. Approximately 1.9% of the shares of the company are sold short. Based on an average daily volume of 4,846,939 shares, the short-interest ratio is currently 2.0 days.

MYL has been the subject of several analyst reports. Wells Fargo & Co reissued a “hold” rating on shares of Mylan in a report on Thursday, August 2nd. ValuEngine raised shares of Mylan from a “strong sell” rating to a “sell” rating in a report on Friday, August 3rd. Royal Bank of Canada raised shares of Mylan from a “sector perform” rating to an “outperform” rating and set a $53.00 price target for the company in a report on Monday, August 13th. Morgan Stanley cut shares of Mylan from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $46.00 to $36.00 in a report on Tuesday, October 9th. Finally, Mizuho cut shares of Mylan from a “buy” rating to a “neutral” rating in a report on Friday, October 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Mylan currently has a consensus rating of “Buy” and an average price target of $46.87.

Shares of Mylan stock opened at $36.95 on Friday. Mylan has a 12-month low of $30.33 and a 12-month high of $47.82. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.26 and a quick ratio of 0.77. The stock has a market capitalization of $19.16 billion, a price-to-earnings ratio of 7.89, a P/E/G ratio of 1.22 and a beta of 1.53.

Mylan (NASDAQ:MYL) last issued its earnings results on Monday, November 5th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.06. Mylan had a net margin of 4.71% and a return on equity of 19.39%. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same period last year, the company posted $1.10 earnings per share. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. As a group, sell-side analysts predict that Mylan will post 4.68 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of MYL. Bank of New York Mellon Corp increased its holdings in Mylan by 32.1% in the second quarter. Bank of New York Mellon Corp now owns 9,408,218 shares of the company’s stock valued at $340,012,000 after buying an additional 2,284,545 shares in the last quarter. Bank of Montreal Can increased its holdings in Mylan by 605.0% in the third quarter. Bank of Montreal Can now owns 2,193,264 shares of the company’s stock valued at $80,274,000 after buying an additional 1,882,157 shares in the last quarter. Orbimed Advisors LLC increased its holdings in Mylan by 77.7% in the second quarter. Orbimed Advisors LLC now owns 3,702,800 shares of the company’s stock valued at $133,819,000 after buying an additional 1,618,500 shares in the last quarter. Kornitzer Capital Management Inc. KS purchased a new position in Mylan in the second quarter valued at about $38,614,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its holdings in Mylan by 522.2% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,131,937 shares of the company’s stock valued at $40,908,000 after buying an additional 950,000 shares in the last quarter. 82.99% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: “Mylan NV (MYL) Short Interest Update” was published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this news story on another site, it was stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this news story can be read at https://theolympiareport.com/2018/11/11/mylan-nv-myl-short-interest-update.html.

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.

Read More: How does a reverse stock split work?

Receive News & Ratings for Mylan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mylan and related companies with MarketBeat.com's FREE daily email newsletter.