logo  
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

Generic Drugmaker Mylan Beats Earnings; Stock Jumps Over 6 Percent

  +Follow August 2, 2013 1:58PM
Share:
Tickers Mentioned:

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.


Liked What You Read? Join Equities.com as a contributor and get eyeballs on your content FOR FREE!

Results for MYL
Mark Trader
21 Dec 14 21:22:26
I banked over 200% in gains during my 14-day trial with http://t.co/6cvEHBeuNR. Their 5 guru traders are amazing. $HK $HST $MYL $FTR
Mark Trader
21 Dec 14 21:00:41
Thanks to the pros at http://t.co/6cvEHBeuNR for the $TINO swing trade idea. Up 45% so far. $HK $HST $MYL $FTR
Dieter Laevers
21 Dec 14 17:25:24
RT @ScripDonnaDC: Obama: tax inversion needs to be fixed in 2015 http://t.co/XkTLbq1DW1 #inversion #taxreform #pharma $MYL $ABBV #Obama
SCRIP Intelligence
21 Dec 14 17:25:24
RT @ScripDonnaDC: Obama: tax inversion needs to be fixed in 2015 http://t.co/XkTLbq1DW1 #inversion #taxreform #pharma $MYL $ABBV #Obama
Gur-Aryeh
21 Dec 14 13:08:38
Watching for whether $MYL can get over 57.89?
Stockaholics
21 Dec 14 12:22:52
Platinum Memberships Rose, After 528% Gains On Penny Stocks, In One Month! Big Update: http://t.co/2W3yKD2d5Q $MYL $ORLY $ALTR
OZ_Options
21 Dec 14 11:45:21
RT @LSFinancial: Call/Put Highest % volume changes: Calls: $TOL, $HK, $GNC, $BBBY, $SINA. Puts: $MYL, $BBBY, $AMAT, $SZYM, $JBL.
Brenda Waning
21 Dec 14 09:15:28
RT @ScripDonnaDC: Obama: tax inversion needs to be fixed in 2015 http://t.co/XkTLbq1DW1 #inversion #taxreform #pharma $MYL $ABBV #Obama
BenAdams
21 Dec 14 08:50:23
RT @ScripDonnaDC: Obama: tax inversion needs to be fixed in 2015 http://t.co/XkTLbq1DW1 #inversion #taxreform #pharma $MYL $ABBV #Obama
Donna Young
21 Dec 14 08:49:19
Obama: tax inversion needs to be fixed in 2015 http://t.co/XkTLbq1DW1 #inversion #taxreform #pharma $MYL $ABBV #Obama
Daniel Zuzevich
21 Dec 14 07:41:03
Perfect example of breakaway, continuation, and exhaustion gaps. $MYL This company intrigues me on the long side. http://t.co/rETYp0MsO7
Ali Habib
20 Dec 14 14:13:53
seems $ENTA is garnering interest. $MYL continues to inform of impending action
Ticker Report
20 Dec 14 05:43:51
Mylan Receives “BBB-” Credit Rating $MYL http://t.co/gGcNoFmmAu
12Stocks.com
20 Dec 14 03:02:06
Weekly Nasdaq100 #Stocks Performance $VIP $MYL $WDC $KRFT $STX $SPLS $MNST $DISCA $CTSH $TSLA $ISRG $CHRW more@ http://t.co/YdSIjGiCGR
Stockaholics
20 Dec 14 01:48:57
Platinum Memberships Rose, After 528% Gains On Penny Stocks, In One Month! Big Update: http://t.co/2W3yKD2d5Q $MYL $ORLY $ALTR
Devan Olivarez
20 Dec 14 01:21:54
Latest information on #stocks like $DD $SEIC $MYL $GOOG #moneymanagement http://t.co/jyOjCJSjvB
Audrey Machado
20 Dec 14 00:25:48
Is it breakout time on $MYL $EMR $IBM $NUAN #money http://t.co/cEQhvb36Od
Leonie Machado
19 Dec 14 23:36:03
Are you hanging on to $BIG $CMG $MYL $GRPN #investing http://t.co/evMgUQeKQB
Lissette Collins
19 Dec 14 23:05:08
Are you considering buying $CRI $AM $MYL $CBM #overvalued http://t.co/SQlDFhOvua
 Amos
19 Dec 14 22:44:17
Sick and Tired of losing money on $ALKS $DNR $MYL $SSO I suggest http://t.co/VirHXFRrQ0
Savanna Teel
19 Dec 14 22:07:22
Get Free research on $ZNGA $GLNG $MYL $QLYS #financial http://t.co/2DPRSvBLBA
Stockaholics
19 Dec 14 21:42:06
Platinum Memberships Rose, After 528% Gains On Penny Stocks, In One Month! Big Update: http://t.co/2W3yKD2d5Q $MYL $ORLY $ALTR
Wall Street
19 Dec 14 18:56:54
Why trade alone? Get real time trade alerts from 5 pro traders at http://t.co/iQWRYqnOQl $HK $HST $MYL $FTR
Tran Vanburen
19 Dec 14 18:38:30
Are you considering buying $NWSA $ADBE $MYL $PCLN #wealthmanagement http://t.co/HRAlzfuX68
Cindie Florez
19 Dec 14 18:01:53
Do you need #Stock #Research on $FOSL $TXN $MYL $DO #NSE http://t.co/NJyIMYI8jg
Jonie Gallegos
19 Dec 14 16:52:07
Looking for research on $TK $ERIE $MYL $GOOG #financial http://t.co/LwOt2gGecs
Wall Street
19 Dec 14 16:04:58
http://t.co/iQWRYqnOQl....Top penny stocks, NYSE, and NASDAQ trades from the stock market today. +296% last week. $HK $HST $MYL $FTR
Kasey Prado
19 Dec 14 15:51:30
Couple of Stocks you should Watch $MYL $SCG $LLL $GOOG #newsletter http://t.co/B6QTYTv2UW
NICK Poulopoulos
19 Dec 14 15:28:48
$ARWR $OCAT $ACHN $TXMD $KPTI $PRTO $BAX, $BMY, $MYL look interesting here. To name a few
Darius Begay
19 Dec 14 14:05:35
Get Free research on $COH $MYL $GES $CAG Must have http://t.co/YNsEaOD5Qb
Win Whitman
19 Dec 14 14:02:23
Bad #Invesments like got you down $LLY $LNG $MYL $RAX #newsletter http://t.co/KphAC5FJjO
Traderific
19 Dec 14 13:33:50
COVER $MCHP 45.45, BUY $MYL 57.51, BUY $NCR 28.64, SELL $PAYX 46.30. More stock tips & details at: http://t.co/iYMGjt5yBI
Mark Trader
19 Dec 14 13:24:20
Thanks to the pros at http://t.co/6cvEHBeuNR for the $TINO swing trade idea. Up 45% so far. $HK $HST $MYL $FTR
Thuy Espinal
19 Dec 14 12:54:31
#Stocks you might want to buy $MYL $EFX $CFX $FEYE View now http://t.co/y5rUzcsFZf
Albert Davies
19 Dec 14 10:42:26
Insider Trading alerts on $BMY $LVLT $MYL $BWP I suggest http://t.co/P2zowE0CFv
Frank Tribble
19 Dec 14 10:22:48
#Stocks you migh want to Sell $MYL $AMZN $DHR $AMZN #singedinvestor http://t.co/CyWjd1cfne
Wall Street
19 Dec 14 09:54:52
Why trade alone? Get real time trade alerts from 5 pro traders at http://t.co/iQWRYqnOQl $HK $HST $MYL $FTR
Nedra Barkley
19 Dec 14 08:49:14
Find out the latest on $MYL $RE $MAN $BWP #StockMarket http://t.co/1pRTLwzbKO
Mauricio Deluca
19 Dec 14 08:29:06
Shoud you sell or hold stocks like $CCK $MYL $KLAC $CAG View now http://t.co/veTj3J7htN
Josette Becnel
19 Dec 14 06:33:10
Looking for research on $JAH $NTRS $MYL $SLW #wealthmanagement http://t.co/8gueuuJE7c
Supruna Man
19 Dec 14 06:18:05
@OptionsHawk so $ARIA is a sure bet... Rolling Jan $MYL calls up and out, strike 60$ now
Foster Corral
19 Dec 14 06:04:40
Great #Stock Newsletter you must have $MYL $LPLA $MAN $RT Visit http://t.co/1EcrgFp6x2
Penny Stock Secret
19 Dec 14 05:40:16
Make Money With BitCoin Every Single Day More Info Here http://t.co/SVqoMlijqL .. $MYL $ORLY $ALTR
Kimberlee Kerns
19 Dec 14 05:24:03
Insider Trading alerts on $AXP $MYL $AAP $LGND #StockMarket http://t.co/LnkzxgZX09
Livevol Community
19 Dec 14 05:00:06
HIGH PUT VOLU $TFSL 87113% $PIR 6290% $TKR 4674% $IMGN 1698% $YGE 1334% $TPLM 1229% $DNKN 1105% $MYL 1095% http://t.co/gwzPxhFaBv
Gussie Robinette
19 Dec 14 04:37:46
Small-cap stocks breaking 52-wk high prices $ISRG $BAH $MYL $IBM #investing http://t.co/v2eWwehT2O
Joetta Mccue
19 Dec 14 04:37:05
Sick and Tired of losing money on $MYL $PF $DAL $S #Stock http://t.co/M0njEYiHy3
Mauro Atwood
19 Dec 14 03:09:31
Are you thinking of Investing in $JBHT $ABC $MYL $GRPN #NSE http://t.co/gdN0zKJNVx
12Stocks.com
19 Dec 14 03:02:21
Weekly Nasdaq100 #Stocks Performance $SPLS $ADBE $KRFT $AMAT $TSLA $WDC $DISCA $MYL $NXPI $VIAB $CTSH $MNST more@ http://t.co/YdSIjGiCGR
HotKeyTrading
19 Dec 14 02:30:03
Trending High On Social Media: $FOSL $RCPT $CYBR $MELI $AVGO $NCMI $ROST $EOG $CY $ULTA $MSG $SHLD $WSM $RH $ATHL $ADSK $AAL $UAL $MYL $S
				
				
  +Follow August 2, 2013 1:58PM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.