Mylan NV (MYL) Short Interest Update
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.
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.
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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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