Mylan NV (NASDAQ:MYL) Short Interest Update
Mylan NV (NASDAQ:MYL) was the recipient of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 11,608,600 shares, a growth of 12.0% from the April 30th total of 10,365,400 shares. Currently, 2.3% of the shares of the stock are sold short. Based on an average trading volume of 7,260,000 shares, the days-to-cover ratio is presently 1.6 days.
A number of equities research analysts recently issued reports on MYL shares. Morgan Stanley set a $32.00 price target on shares of Mylan and gave the company a “buy” rating in a research note on Wednesday, May 8th. BidaskClub raised shares of Mylan from a “strong sell” rating to a “sell” rating in a research note on Tuesday, April 30th. Barclays started coverage on shares of Mylan in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $26.00 price target on the stock. Royal Bank of Canada dropped their price target on shares of Mylan to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $37.00 price target on shares of Mylan in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $34.15.
MYL traded up $0.11 on Friday, hitting $18.32. 10,853,321 shares of the company’s stock were exchanged, compared to its average volume of 6,957,151. Mylan has a fifty-two week low of $16.63 and a fifty-two week high of $39.59. The company has a quick ratio of 0.85, a current ratio of 1.51 and a debt-to-equity ratio of 1.20. The stock has a market cap of $9.39 billion, a PE ratio of 4.00, a price-to-earnings-growth ratio of 0.94 and a beta of 1.73.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Mylan by 2.6% during the 4th quarter. BlackRock Inc. now owns 39,965,771 shares of the company’s stock worth $1,095,061,000 after acquiring an additional 1,018,811 shares during the period. Vanguard Group Inc raised its holdings in shares of Mylan by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 35,774,112 shares of the company’s stock worth $1,309,333,000 after acquiring an additional 506,649 shares during the period. Pzena Investment Management LLC raised its holdings in shares of Mylan by 0.3% during the 1st quarter. Pzena Investment Management LLC now owns 21,027,676 shares of the company’s stock worth $595,924,000 after acquiring an additional 71,010 shares during the period. Geode Capital Management LLC raised its holdings in shares of Mylan by 15.0% during the 4th quarter. Geode Capital Management LLC now owns 7,875,204 shares of the company’s stock worth $215,460,000 after acquiring an additional 1,026,731 shares during the period. Finally, FIL Ltd raised its holdings in shares of Mylan by 14.1% during the 1st quarter. FIL Ltd now owns 6,468,868 shares of the company’s stock worth $183,327,000 after acquiring an additional 799,051 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.
Mylan N.V., together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic, branded-generic, brand-name, and over-the-counter (OTC) pharmaceutical products in North America, Europe, and internationally. It offers active pharmaceutical ingredients and finished dosage forms; and antiretroviral medicines to treat HIV/AIDS.
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