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Generic Drugmaker Mylan Beats Earnings; Stock Jumps Over 6 Percent

  +Follow August 2, 2013 1:58PM
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.

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Results for MYL
Sleek Money
1 Dec 15 14:36:46
Mylan NV $MYL Receives “BBB-” Credit Rating from Morningstar https://t.co/fC4tXg7Ia1
1 Dec 15 14:21:09
Mylan NV $MYL Receives “BBB-” Credit Rating from Morningstar https://t.co/wwWHzZYORA
1 Dec 15 14:13:38
I am bullish on $MYL with a target price of $55.73 in 6 mos. on Vetr! https://t.co/JC45vzsoqZ
1 Dec 15 14:06:30
Why $HPE, $LLY and $MYL Are 3 of Today's Best Stocks https://t.co/fuVXPCnU3M
cristy cora
1 Dec 15 14:06:07
How to make money trading $myl https://t.co/AQNKz3JJiH $$ #stock #investing
1 Dec 15 13:16:49
RT @CarolineYLChen: Speaking of price hikes: $MYL 400% increase on EpiPen turned it into a $1 Billion biz. http://t.co/9Yp9RaBn24 @RobertLa…
1 Dec 15 13:15:03
RT @megtirrell: In today's drug pricing news: Bernstein reports $MYL raised EpiPen price 15% on Nov 23
1 Dec 15 13:00:13
S&P500 #Stocks Trend $WYNN $MU $LVLT $MYL $MNK $LH $MS $XEC $MRK $CAH $MON $AMAT $HSIC $TWX $FITB $BDX $KEY @ https://t.co/RPeaHBHYi0
1 Dec 15 12:59:57
S&P500 #Stocks Performance $CNX $WYNN $LLY $AAL $THC $AET $HCA $MU $LVLT $MYL $MNK $CI $UNH $LH $WFM $NVDA more@ https://t.co/RPeaHBHYi0
1 Dec 15 12:59:40
Nasdaq100 #Stocks Trend $WYNN $MU $MYL $AMAT $HSIC $ESRX $LRCX $CHTR $FAST $NXPI $YHOO $ADI $NVDA $GOOGL $ILMN @ https://t.co/YdSIjFJqHf
1 Dec 15 12:59:23
Nasdaq100 #Stocks Performance $WYNN $AAL $MU $SBAC $MYL $WFM $TSLA $NVDA $PCLN $GOOGL $FB $SNDK $BMRN $ILMN more@ https://t.co/YdSIjFJqHf
Ticker Report
1 Dec 15 12:41:08
Mylan NV $MYL Receives Consensus Rating of “Buy” from Brokerages https://t.co/O3IernkRvy
US Banking News
1 Dec 15 12:39:02
Mylan NV $MYL Receives Consensus Rating of “Buy” from Brokerages https://t.co/F2qYuZhLzr
1 Dec 15 12:25:11
$MYL: Mylan NV (NASDAQ:MYL) Receives Consensus Rating of “Buy …: https://t.co/7sMPuhlO8S
Consumer News
1 Dec 15 12:24:39
Mylan NV $MYL Receives Consensus Rating of “Buy” from Brokerages https://t.co/hSVtkTsZwe #acn
janene seefried
1 Dec 15 10:48:52
Venky Srinivasan
1 Dec 15 10:17:03
$MYL Noticed a trader sold 2K Dec monthly 49 puts to buy 2K Dec 53/55 1x2 CS for 20 cents. @harmongreg FYI
1 Dec 15 10:12:54
RT @SwatOptions: $MYL trader sells 2K dec.18 put 49 AND BUYS 2k DEC.18 CALL SPREAD 53/55 1x2 ratio for 0.2$ debit total trade - BULLISH
1 Dec 15 10:12:49
RT @sssvenky: Took profits on some $MYL (a little over 1/3rd). https://t.co/IIApunNRMt
Anthony Verdone
1 Dec 15 09:41:46
$MYL looks good.
John L. Person
1 Dec 15 09:27:38
TTU trade room members if long ; heads up on $MYL it's breaking up to the 53.20 handle on news of a new drug application
Douglas Allan
1 Dec 15 09:26:11
$MYL announces plans to be first to market newly recommended antiretroviral treatment for $99 per patient per year.TLE400
1 Dec 15 09:20:35
$MYL On World AIDS Day, Mylan Announces Plans to be the First to Market Newly-Recommended Antiretroviral Trea From our Stock News Alerts App
Venky Srinivasan
1 Dec 15 09:18:39
Took profits on some $MYL (a little over 1/3rd). https://t.co/IIApunNRMt
Breaking News
1 Dec 15 09:11:14
$MYL: Value Stock Alert – Mylan Inc. (NASDAQ:MYL): https://t.co/tJ2wJQeTzg
Media Sentiment
1 Dec 15 09:09:02
$MYL received a new alert. Find out why at https://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 361
Swat Options Trading
1 Dec 15 09:08:44
$MYL trader sells 2K dec.18 put 49 AND BUYS 2k DEC.18 CALL SPREAD 53/55 1x2 ratio for 0.2$ debit total trade - BULLISH
1 Dec 15 08:51:55
S&P500 #Stocks Performance $CNX $WYNN $LLY $LVLT $THC $PXD $CPB $AAL $AET $MU $NVDA $FSLR $GOOGL $MYL $XEC more@ https://t.co/RPeaHBHYi0
1 Dec 15 08:51:22
Nasdaq100 #Stocks Performance $WYNN $AAL $MU $NVDA $GOOGL $MYL $AMAT $WFM $LBTYA $ATVI $SBAC $PCLN $WDC more@ https://t.co/YdSIjFJqHf
Guy Cohen
1 Dec 15 08:32:13
I mentioned $MYL twice last week ...
NICK Poulopoulos
1 Dec 15 07:15:15
$MRVL $MYL $MON charts look good
1 Dec 15 06:19:10
$JNJ $MYL: Trending Biotech Stocks Update: Johnson & Johnson (NYSE:JNJ …: https://t.co/SDmb78b37H
Stock Rocket
1 Dec 15 05:50:03
Platinum Members Have Seen Incredible Gains On Our Top Stock Picks! See Our New Picks Early: https://t.co/ro7o3SYbd1 $MYL $ORLY $ALTR
Trading Quotient
1 Dec 15 05:21:22
01 Dec 2015: Uptrend Stocks in Healthcare $AMGN $BCR $BMY $DGX $ISRG $JNJ $LLY $MDT $MYL $NVLS https://t.co/mXNPLFBUCM
1 Dec 15 04:05:27
$NWAV Closed Up A Whopping 55.56%! Major Expectations For Next Week: https://t.co/xpW15VznHO $MYL $ORLY $ALTR
Stock Dawgzz
1 Dec 15 04:02:33
Our Winning Picks Have Multiplied As Much As 34 Times In 5 Months! See Our New Pick: https://t.co/yNmfNXSR8k $MYL $ORLY $ALTR
Penny Stockington
1 Dec 15 03:59:43
$TSTS Has Gained 336.36% In The Past 2 Weeks! Huge News: https://t.co/lZkftFE1Y4 $MYL $ORLY $ALTR
1 Dec 15 03:58:10
$TSTS Has More Than QUADRUPLED In Value In 2 Weeks! Big News: https://t.co/n8iZENteZr $MYL $ORLY $ALTR
Breaking News Now
1 Dec 15 03:22:10
$XLK $XLV $XLE $XLI $IWM $XLU $CSCO $LRCX $UAL $MYL: These stocks are best of breed: Deutsche Bank: https://t.co/csf9wcLeTz
Financial News FYI
1 Dec 15 01:37:40
KaloBios Surges 30%, Martin Shkreli Stops Lending Shares $MYL https://t.co/SJN5PXAaha https://t.co/OwvSrPB7Tf
Financial News FYI
1 Dec 15 01:37:34
Mallinckrodt (MNK) Sells Contrast Media & Delivery Systems $MYL https://t.co/WpIl7VfsmT
Breaking News
1 Dec 15 00:53:12
$INCY $KKR $MYL: Is Incyte Corporation (INCY) A Good Stock To Buy?: https://t.co/jjsaTi2mhA
Paul Henry
30 Nov 15 20:10:24
$MHRC has now gained 756.25% In The Past 2 Weeks! Huge News: https://t.co/fKslN0dN7c $MYL $ORLY $ALTR
Michael James
30 Nov 15 20:09:22
$MHRC Has Nearly QUADRUPLED In Value, In The Past 2 Weeks! Special Update: https://t.co/ohkeyaXpyZ $MYL $ORLY $ALTR
Michael Cook
30 Nov 15 20:08:59
3,500% Gains On Stock Picks In 5 Months And An Amazing New Pick Is On The Way! Get It Early: https://t.co/GCmBVIIC8f $MYL $ORLY $ALTR
Stock Market Picks
30 Nov 15 18:12:33
$MYL $NFLX $ORCL $QCOM $SBUX $SOHU Trade long and short positions from the #NASDAQ, up to 190% since 2011. https://t.co/NX1qE3fWDk $QQQ
Stock Market Picks
30 Nov 15 18:11:58
$MYL $NFLX $ORCL $QCOM $SBUX $SOHU Trade long or long+short positions from the #NASDAQ, up to 1500% since 2010. https://t.co/sEWpN8FFKR
DE Asset Management
30 Nov 15 18:08:32
RT @IHPosts2: MYL The9 Ltd. Day Low https://t.co/IqwizHgDqz $MYL $IBM $XLP $NKE #MYL #invest #finance
30 Nov 15 17:24:03
$MYL: Wall Street analysts bullish on MYL's earnings growth: https://t.co/0rHqNkKD8i https://t.co/5Tt6KhFi4U
30 Nov 15 14:12:03
$MYL is rated BUY, 21.4% upside by Wall Street analysts based on average ratings/targets https://t.co/dueyFzO1fh https://t.co/LXAyZDwodo
  +Follow August 2, 2013 1:58PM



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