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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.

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Results for MYL
FirstToMarkets
28 Aug 15 19:45:04
Mylan Inc. Reiterated Rating by Leerink Swann (Ranked 41st) to Outperform with 60 PT $MYL #MYL http://t.co/7HRGHs5eFg
Media Sentiment
28 Aug 15 19:44:54
$MYL received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 575
Sentifi US Market
28 Aug 15 19:44:49
Most Discussed #NASDAQ100 Stocks http://t.co/xPMTGGwJBP $MYL $ATVI $ADSK $ADP $AMGN $NASDAQ http://t.co/RxQqob1e0p
MarketBeatCom
28 Aug 15 19:42:46
Mylan NV's outperform rating reiterated at Leerink Swann. $60.00 PT. http://t.co/FL2CTeMWsB $MYL #MYL
Ticker Report
28 Aug 15 19:41:46
Mylan NV’s “Outperform” Rating Reaffirmed at Leerink Swann $MYL http://t.co/lvZc6x1Tnt
US Banking News
28 Aug 15 19:40:57
Mylan NV’s “Outperform” Rating Reaffirmed at Leerink Swann $MYL http://t.co/Vt5zFibC7s
Dakota Financial
28 Aug 15 19:39:27
Mylan NV’s “Outperform” Rating Reaffirmed at Leerink Swann $MYL http://t.co/0yr4tKeyK8
StockNewsWires
28 Aug 15 19:36:02
$MYL: Mylan NV’s “Outperform” Rating Reaffirmed at Leerink Swann (MYL): http://t.co/AruwGZ6GC9
US Consumer News
28 Aug 15 19:33:48
Mylan NV's outperform rating reiterated at Leerink Swann. $60.00 PT. http://t.co/VstmvrR2qO $MYL #MYL
Stock Rocket
28 Aug 15 19:21:33
Our Penny Stock Alerts Gained 550% In Less Than 6 Weeks! We Have A HUGE New Pick In The Works: http://t.co/wNx8NkJOZ4 $MYL $ORLY $ALTR
Stock Dawgzz
28 Aug 15 18:36:54
Our Platinum Members Saw Stock Picks Gin Over 550% In 5 Weeks! See Our Exclusive New Pick: http://t.co/V9CRygo5dI $MYL $ORLY $ALTR
Jahi Faucette
28 Aug 15 18:28:10
RT @TheStreet: Today, Mylan $MYL shareholders approved a stock sale that would be used to purchase Perrigo $PRGO http://t.co/N2e3GOOxhi
FinSentS NASDAQ
28 Aug 15 15:41:12
$MYL:US Premarket Biotech Digest: Geron EDP Today, Repatha Approval, Mylan Perrigo Deal #MYLAN INC http://t.co/GMxOkmkLFm #NASDAQ
Branzig Garcia
28 Aug 15 15:40:44
RT @bizrpt: Today's hot stocks: http://t.co/r1moiXTsnb $MYL $PRGO $UAL $ATVI $AAPL $BA $GME $BIG
NBR
28 Aug 15 15:17:20
Today's hot stocks: http://t.co/r1moiXTsnb $MYL $PRGO $UAL $ATVI $AAPL $BA $GME $BIG
InvestorPlace
28 Aug 15 14:07:01
Why $ADSK, $GME and $MYL Clobbered the Market on Friday http://t.co/MyRXuthL11
Donald J Olive
28 Aug 15 13:41:55
RT @theflynews: On The Fly: Top stock stories for Friday $ARIA $BXLT $SHPG $MYL $PRGO $ATVI $UAL $GME $BIG $ADSK $HSP $PLL: Fu... http://t.…
Seehoo
28 Aug 15 13:38:37
RT @theflynews: On The Fly: Top stock stories for Friday $ARIA $BXLT $SHPG $MYL $PRGO $ATVI $UAL $GME $BIG $ADSK $HSP $PLL: Fu... http://t.…
$Stocknewsalerts
28 Aug 15 13:31:18
$MYL New SEC Document(s) for Mylan N.V. From our Stock News Alerts App
The Fly
28 Aug 15 13:18:05
On The Fly: Top stock stories for Friday $ARIA $BXLT $SHPG $MYL $PRGO $ATVI $UAL $GME $BIG $ADSK $HSP $PLL: Fu... http://t.co/PCYp0F9Mmq
James Sweeney
28 Aug 15 13:00:55
#MarketMovers 8/28 Big Lots' big results $BIG Mylan wants Perrigo $MYL B&G wants Green Giant veggie biz $BGS http://t.co/CWbAzmb9ie
Modern Wall Street
28 Aug 15 13:00:55
#MarketMovers 8/28 Big Lots' big results $BIG Mylan wants Perrigo $MYL B&G wants Green Giant veggie biz $BGS http://t.co/oqwNeyjJNs
JS3 Multimedia
28 Aug 15 13:00:54
#MarketMovers 8/28 Big Lots' big results $BIG Mylan wants Perrigo $MYL B&G wants Green Giant veggie biz $BGS http://t.co/82d28KmKMi
Bidness Etc
28 Aug 15 12:54:31
Mylan NV Clears Level 1 Of Perrigo Takeover Process http://t.co/EFotAykus9 $MYL $PRGO http://t.co/Qj82sbSKls
HTBUBU
28 Aug 15 12:38:42
RT @TSTbiotech: Mylan Shareholders Back Proposal to Buy Perrigo $MYL http://t.co/vwV60MMHn7 http://t.co/MjWAOGboqg
$Stocknewsalerts
28 Aug 15 12:31:13
$MYL New SEC Document(s) for Mylan N.V. From our Stock News Alerts App
BNK Invest
28 Aug 15 12:17:03
Friday Sector Laggards: Utilities, Healthcare $POM $PEG $XLU $BXLT $MYL #stocks http://t.co/h9AShyDRQE
Breaking News
28 Aug 15 12:17:03
$MYL: Mylan Shareholders Back Proposal to Buy Perrigo: http://t.co/ULK4xMHsin
stockmarketnow
28 Aug 15 12:12:57
RT TSTbiotech: Mylan Shareholders Back Proposal to Buy Perrigo $MYL http://t.co/apBHrogRM5; http://t.co/15eQfHdAVY
ruben d vasquez
28 Aug 15 12:12:02
RT @TSTbiotech: Mylan Shareholders Back Proposal to Buy Perrigo $MYL http://t.co/vwV60MMHn7 http://t.co/MjWAOGboqg
TheStreet
28 Aug 15 12:10:21
RT @TSTbiotech: Mylan Shareholders Back Proposal to Buy Perrigo $MYL http://t.co/vwV60MMHn7 http://t.co/MjWAOGboqg
TheStreet Biotech
28 Aug 15 12:10:02
Mylan Shareholders Back Proposal to Buy Perrigo $MYL http://t.co/vwV60MMHn7 http://t.co/MjWAOGboqg
WKRB News
28 Aug 15 12:07:23
Mylan NV Coverage Initiated at Standpoint Research $MYL http://t.co/QgZfcqXQo0
Henry Williams
28 Aug 15 11:52:17
Mylan NV Receives Shareholder Approval For Perrigo Company plc Takeover - http://t.co/9rS33JQQBf - $MYL $PRGO http://t.co/rn37idF2Qj
BusinessFinanceNews
28 Aug 15 11:51:32
Mylan NV Receives Shareholder Approval For Perrigo Company plc Takeover - http://t.co/OYUMTmCk2Y - $MYL $PRGO http://t.co/zCwW44H0tf
Modern Wall Street
28 Aug 15 11:50:22
Miss it? #MarketMovers 8/28 Big Lots' big results $BIG Mylan wants Perrigo $MYL B&G wants Green Giant veggie biz $BGS http://t.co/7sSK4gXldr
JS3 Multimedia
28 Aug 15 11:50:22
Miss it? #MarketMovers 8/28 Big Lots' big results $BIG Mylan wants Perrigo $MYL B&G wants Green Giant veggie biz $BGS http://t.co/1cA3Tjl80o
James Sweeney
28 Aug 15 11:50:22
Miss it? #MarketMovers 8/28 Big Lots' big results $BIG Mylan wants Perrigo $MYL B&G wants Green Giant veggie biz $BGS http://t.co/MoMSyaWwUX
Hot Stock Bot
28 Aug 15 11:43:43
$MYL falls -2.78%, currently trading at $50.06
The Deal
28 Aug 15 11:05:47
RT @TheStreet: Today, Mylan $MYL shareholders approved a stock sale that would be used to purchase Perrigo $PRGO http://t.co/N2e3GOOxhi
TheStreet Biotech
28 Aug 15 11:04:44
RT @TheStreet: Today, Mylan $MYL shareholders approved a stock sale that would be used to purchase Perrigo $PRGO http://t.co/N2e3GOOxhi
TheStreet
28 Aug 15 11:02:44
Today, Mylan $MYL shareholders approved a stock sale that would be used to purchase Perrigo $PRGO http://t.co/N2e3GOOxhi
Hot Stock Bot
28 Aug 15 10:37:00
$MYL drops -2.91%, currently trading at $49.99
The GMP Group
28 Aug 15 10:07:17
RT @fwpharma: Catch up with the key #pharma news via our daily round-up #video https://t.co/v3SyIHx5GL $AMGN $MYL $PRGO $CELG
FirstWord Pharma
28 Aug 15 10:03:34
Catch up with the key #pharma news via our daily round-up #video https://t.co/v3SyIHx5GL $AMGN $MYL $PRGO $CELG
Modern Wall Street
28 Aug 15 09:46:32
Wall St #MarketMovers 8/28 Big Lots' big results $BIG Mylan wants Perrigo $MYL B&G wants Green Giant veggie biz $BGS https://t.co/mIBRNQWxix
James Sweeney
28 Aug 15 09:46:32
Wall St #MarketMovers 8/28 Big Lots' big results $BIG Mylan wants Perrigo $MYL B&G wants Green Giant veggie biz $BGS https://t.co/W2plmWeeLQ
JS3 Multimedia
28 Aug 15 09:46:32
Wall St #MarketMovers 8/28 Big Lots' big results $BIG Mylan wants Perrigo $MYL B&G wants Green Giant veggie biz $BGS https://t.co/JBoqpEwjD3
TheStreet Biotech
28 Aug 15 09:34:01
Mylan $MYL Stock Falls After Shareholders Approve Hostile Takeover of Perrigo http://t.co/fKw6FLxOQT
ProTradersNews
28 Aug 15 09:27:02
$MYL: Mylan (MYL) Stock Falls After Shareholders Approve Hostile …: http://t.co/WG9jsCp0V2
				
				
  +Follow August 2, 2013 1:58PM
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