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Generic Drugmaker Mylan Beats Earnings; Stock Jumps Over 6 Percent

  +Follow August 2, 2013 1:58PM
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Mylan Inc. ($MYL) released its earnings report for the second quarter of 2013, and the drug manufacturer slightly beat analyst expectations. While the company fell slightly below revenue expectations they posted higher earnings, and most signs pointed to a positive outlook for company going forward.

Following their earnings report, analysts were split on the outlook of the company. JP Morgan analyst Chris Schott said in a note, "We believe Mylan is a business capable of generating low double digit bottom line growth over the next several years, aided by a mix of bolt-on acquisitions and share repurchases.” Needham, however, on Aug 2 downgraded the company from a Strong Buy to a Buy, putting their price target at $40 a share. CRT Capital was more bearish, putting a $34 price target on the stock. Out of 14 analytical firms surveyed by NASDAQ, seven held a strong buy, Needham downgraded the stock to buy, and six companies had a hold.

The Cecil Township, Pa.-based company sells drugs in 150 countries, and has over 1,000 separate products. The last several years Mylan has focused on aggressively acquiring other drug companies and reinvestment. In 2007 Mylan acquired the generic wing of Merck & Co Inc (MRK) . In Feb. 2013, Mylan announced it would spend $1.6 billion to buy Agila Specialties, an injectable drugs unit, from India’s Strides Arcolab Ltd. Mylan's sales have more than tripled since 2007, and the company's stock is near its all-time high.

Mylan reported earnings of $178 million, or an adjusted $0.68 a share, versus the $133 million net income, or $0.33 per share, from the same period a year ago. Revenue for the quarter was $1.70 billion, as compared to $1.69 billion from the previous year. Analysts were expecting a profit of $0.67 per share on revenues of $1.73 billion.

The company's stock surged on the positive news. Mylan is up 6.8 percent to hit $36.29 a share. The stock is up 22.67 on the year.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for MYL
ZOZO
21 Oct 14 16:21:27
$MYL daily chart broke out http://t.co/H3ds78GLph
Kym L
21 Oct 14 16:16:50
$MYL Looks pretty good https://t.co/HyovOWZPGz via http://t.co/xwjHFVSbOf
12Stocks.com
21 Oct 14 16:02:41
S&P500 #Stocks Trend $WAT $HOG $MPC $GCI $LUV $AA $REGN $AMGN $ITW $XLNX $FMC $VLO $NE $MYL $ESRX $CA $MJN @ http://t.co/RPeaHBZz9y
12Stocks.com
21 Oct 14 16:02:07
Nasdaq100 #Stocks Trend $ILMN $REGN $AMGN $XLNX $MYL $ESRX $CA $BIDU $SRCL $AAPL $ORLY $EXPD $LBTYA $PCAR $VRSK @ http://t.co/YdSIjG11yN
ShortStockVolume.com
21 Oct 14 14:31:44
Top Shorted Stocks 10/21/14 1. $IYW 94.68% 2. $VOO 88.24% 3. $BSBR 85.19% 4. $IVV 84.71% 5. $VTI 83.27% 6. $MYL 82.07% 7. $KMX 81.54%...
ShortStockVolume.com
21 Oct 14 14:31:41
Top Shorted Stocks 10/21/14... 4. $IVV 84.71% 5. $VTI 83.27% 6. $MYL 82.07%... http://t.co/Iv65vVzyhc
Briefing.com
21 Oct 14 13:33:07
Co’s that have issued #earnings #guidance in the last 30 days http://t.co/pHPKQRSYln $AAPL $SHOO $EBAY $NFLX $INTC $HD $WMT $HPQ $MYL
Stockaholics
21 Oct 14 13:15:44
Our Penny Stock Picks Gained 371% In 2 Weeks! Get Our Next Pick Early: http://t.co/z2noBUWrEP $MYL $ORLY $ALTR
StockSpotter
21 Oct 14 13:02:26
$MYL up 3.3% to 51.97 possible bullish reversal? #stocks #options #trading http://t.co/xRzUdGDm06
12Stocks.com
21 Oct 14 13:00:28
S&P500 #Stocks Trend $WAT $HOG $MPC $GCI $LUV $AA $REGN $ITW $XLNX $FMC $VLO $MYL $ESRX $MJN $CVC $GPC $IRM @ http://t.co/RPeaHBZz9y
12Stocks.com
21 Oct 14 12:59:49
Nasdaq100 #Stocks Trend $ILMN $REGN $XLNX $MYL $ESRX $BIDU $SRCL $MNST $AAPL $ORLY $EXPD $LBTYA $PCAR $VRSK $FB @ http://t.co/YdSIjG11yN
Tom Grant
21 Oct 14 12:56:26
“http://t.co/D9JGtv0U8M #pharma $MYL” interesting ethical dilemma....
Gur-Aryeh
21 Oct 14 12:47:48
$MYL $TEVA rockets away!
PharmaPosition
21 Oct 14 11:40:44
RT @pharmalot: Mylan faces investor pressure over drug to be used for #executions .. see who sold some holdings http://t.co/zkTBOAZOAl #pha…
Daily Contracts
21 Oct 14 11:36:01
Real-Time feed of company contracts, original agreements and executive updates from Mylan Laboratories Inc. $MYL http://t.co/tB7gJSON2A
Yu Zhu
21 Oct 14 11:16:33
RT @pharmalot: Mylan faces investor pressure over drug to be used for #executions .. see who sold some holdings http://t.co/zkTBOAZOAl #pha…
Med Ad News
21 Oct 14 11:14:37
RT @pharmalot: Mylan faces investor pressure over drug to be used for #executions .. see who sold some holdings http://t.co/zkTBOAZOAl #pha…
pharmalot
21 Oct 14 11:12:07
Mylan faces investor pressure over drug to be used for #executions .. see who sold some holdings http://t.co/zkTBOAZOAl #pharma $MYL
BlockTradeAlert
21 Oct 14 11:01:48
BLOCK TRADE: $MYL 863,400 shares @ $51.44 [14:01:47]
12Stocks.com
21 Oct 14 03:02:09
Weekly Nasdaq100 #Stocks Trend $CHRW $GRMN $ISRG $ORLY $DLTR $GMCR $SRCL $COST $ILMN $XLNX $MYL $FB $LBTYA @ http://t.co/YdSIjG11yN
Stockaholics
20 Oct 14 17:57:00
Our Penny Stock Picks Gained 371% In 2 Weeks! Get Our Next Pick Early: http://t.co/z2noBUWrEP $MYL $ORLY $ALTR
Roy Friedman
20 Oct 14 17:48:52
@JohnTuckerPhD @hydrogenblimp Locking up *all* of API-->invitation4 FTC/DoJ 2file suit. $MYL found this out in 2000 w lorazepam/clorazepate.
Abu abd al Ziz
20 Oct 14 17:18:31
RT @OptionsTrader31: $MYL Between the November 52.5 and 55 calls, trading over 6000. There was some $TEVA chatter on October 2nd. Worth kee…
12Stocks.com
20 Oct 14 16:02:12
Nasdaq100 #Stocks Trend $GMCR $ISRG $ORLY $CHRW $DLTR $GRMN $SRCL $COST $ILMN $MYL $XLNX $LBTYA $FB $ESRX $MNST @ http://t.co/YdSIjG11yN
Briefing.com
20 Oct 14 15:04:03
Co’s that have issued #earnings #guidance in the last 30 days http://t.co/pHPKQRSYln $SHOO $EBAY $NFLX $INTC $HD $WMT $HPQ $MYL $BIG
BioBreakout
20 Oct 14 14:49:59
RT @redacre: https://t.co/WCP0ZOyOuQ Q3 2014 Biotech Earnings Preview $IBB $XBI $GILD $VRTX $AMGN $BIIB $CELG $REGN $ILMN $MYL $BMRN $ALXN
TickerChirp
20 Oct 14 14:29:04
The Most Popular in Twitter Related to $MYL (Mylan Inc symbol MYL) on 10/20/2014 http://t.co/nPkA15TQHz
Red Acre Investments
20 Oct 14 13:52:41
https://t.co/WCP0ZOyOuQ Q3 2014 Biotech Earnings Preview $IBB $XBI $GILD $VRTX $AMGN $BIIB $CELG $REGN $ILMN $MYL $BMRN $ALXN
Stockaholics
20 Oct 14 13:32:55
After Massive Gains On Penny Stock Picks, another New Pick Is Coming! Check it out: http://t.co/lWd4jUXeCy $MYL $ORLY $ALTR
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20 Oct 14 12:59:45
Nasdaq100 #Stocks Trend $GMCR $CHRW $GRMN $ISRG $ILMN $SRCL $ORLY $FB $XLNX $ROST $MYL $TRIP $MNST $TSCO $ALXN @ http://t.co/YdSIjG11yN
LAX_Vol
20 Oct 14 10:23:10
$MYL just popped
BlockTradeAlert
20 Oct 14 09:42:17
BLOCK TRADE: $MYL 750,800 shares @ $49.58 [12:42:16]
BlockTradeAlert
20 Oct 14 09:42:05
BLOCK TRADE: $MYL 1,593,800 shares @ $49.57 [12:42:05]
Stockaholics
20 Oct 14 09:17:22
After Massive Gains On Penny Stock Picks, another New Pick Is Coming! Check it out: http://t.co/YX0NLZhRQ5 $MYL $ORLY $ALTR
Catspaw
20 Oct 14 07:42:38
@LAX_Vol @FamilyOfficeGur apologize to all in advance but I bto in $myl, it will now crater
Arthur Caprio
20 Oct 14 06:59:02
RT @LAX_Vol: Massive open interest in $MYL 52.5 and 55 Nov Calls, all built over the past week. EPS on 10/30.
LAX_Vol
20 Oct 14 06:41:26
Massive open interest in $MYL 52.5 and 55 Nov Calls, all built over the past week. EPS on 10/30.
Bidness Etc
20 Oct 14 05:10:10
Abbott is expected to report upbeat 3Q results in its earnings call -http://t.co/nnJq6ZrJoT $ABT $MYL
12Stocks.com
20 Oct 14 03:02:14
Weekly Nasdaq100 #Stocks Trend $REGN $GRMN $PCAR $CHRW $MYL $SRCL $XLNX $ILMN $DLTR $ISRG $EQIX $ADI $WYNN @ http://t.co/YdSIjG11yN
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20 Oct 14 00:49:09
After Massive Gains On Penny Stock Picks, another New Pick Is Coming! Check it out: http://t.co/YX0NLZhRQ5 $MYL $ORLY $ALTR
Retro BelleSMYL°°
20 Oct 14 00:23:53
Non LOL parce que $ sa rime avec $myl! Alors que € c b€ll€! C moche çà, vous ne trouvez pas!!
Stockaholics
19 Oct 14 20:28:54
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Stockaholics
19 Oct 14 17:45:44
IBIO Closed Up 69.84% After Our Penny Stock Alert! New Picks Coming: http://t.co/OG2rloNNni $MYL $ORLY $ALTR
Joe
19 Oct 14 12:10:20
RT @DewDiligence: Tape of 1-hour SCOTUS hearing on Copaxone patent case: http://t.co/QhgNg4YQIi Transcript also avail. $MNTA $MYL $TEVA
TV_Trading Ideas
19 Oct 14 11:25:45
MYL $MYL http://t.co/BEBmYtdFD1
Kym L
19 Oct 14 11:25:03
$MYL Weekly Updated https://t.co/ieBPMKhSfC
Roy Friedman
19 Oct 14 11:08:14
Tape of 1-hour SCOTUS hearing on Copaxone patent case: http://t.co/QhgNg4YQIi Transcript also avail. $MNTA $MYL $TEVA
Hammer D. Lane
19 Oct 14 09:45:01
RT @zozotrader: $MYL daily chart chart http://t.co/bz7aSBpxgk
ZOZO
19 Oct 14 09:40:29
$MYL daily chart chart http://t.co/bz7aSBpxgk
Roy Friedman
19 Oct 14 09:07:30
@lisacai913 @NathanAhron < $myl could invert first w diff co then buy $abt EPD w debt> Which other cos do have you in mind?
				
				
  +Follow August 2, 2013 1:58PM
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