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 and Connect With Your Favorite Financial Experts FOR FREE! Members of Equities.com gain access to our leading financial news and content, active social investment community, proprietary research tools including the 2014 Small-Cap Stars, E.V.A. reports and more.

Results for MYL
wininstocks2014
30 Oct 14 05:16:58
MYL 50.85 Stock Charts $MYL Mylan Inc. (NASDAQ) Last Updated: 10/30/2014 07:17:05 MYL Stock Chart - 1 Month ht http://t.co/PsDBl4pysf
Stockaholics
29 Oct 14 23:06:50
$MLCG closed up 166.67% today! Huge News: http://t.co/JxSMla9Afn $MYL $ORLY $ALTR
Stock Market Picks
29 Oct 14 20:19:40
Earnings Releases for October 30th (after the close): $KEG $KFX $LNKD $LRE $LYV $MBFI $MELI $MHK $MOH $MTZ $MXL $MYL $NATI $NEM $NR $NSR
Stockaholics
29 Oct 14 19:08:43
$MLCG closed up 166.67% today! Huge News: http://t.co/JxSMla9Afn $MYL $ORLY $ALTR
Marlen
29 Oct 14 16:48:16
NOTABLE EARNINGS FOR THURSDAY OCT 30 AFTER MARKET: $EXPE $FSLR $FLR $GPRO $GRPN $LNKD $MYL $NEM $SBUX $TSO
InterCooler
29 Oct 14 15:36:39
Mylan $MYL to Release Quarterly Earnings on Thursday http://t.co/OLGodngmLD
US Banking News
29 Oct 14 15:34:51
Mylan $MYL to Release Quarterly Earnings on Thursday http://t.co/vaDWZGdxyX
US Banking News
29 Oct 14 15:33:18
Mylan to release Q314 earnings on Thursday. Analysts expect 1.14 EPS. $MYL http://t.co/3mo95LOstJ
Lightspeed
29 Oct 14 07:33:08
Call/Put Highest % volume changes: Calls: $ARCP, $NFX, $ITUB, $CLX, $CRUS. Puts: $EXC, $RAD, $MNKD, $ARCP, $MYL.
Daily Contracts
29 Oct 14 07:16:01
Real-Time feed of company contracts, original agreements and executive updates from Mylan Laboratories Inc. $MYL http://t.co/tB7gJSON2A
Marlen
29 Oct 14 06:12:44
NOTABLE EARNINGS FOR TOMORROW AFTER MARKET: $EXPE $FSLR $FLR $GPRO $GRPN $LNKD $MYL $NEM $SBUX $TSO
Jacob Plieth
29 Oct 14 05:24:50
$SNY Weinberg says BOD learned of "Project Phoenix" via the press. Not good for Viehbacher $MYL $ABT
Daniel B. Ravicher
29 Oct 14 04:16:24
. @markflowchatter If Court of Appeals upholds $MDCO loss to $HSP, it'll reverse the decision against $MYL. Overhang long from over.
Daniel B. Ravicher
29 Oct 14 04:13:29
. @markflowchatter $MDCO lost Angiomax patent case against $HSP earlier this year and $MYL has already appealed Monday's decision.
Daniel B. Ravicher
29 Oct 14 04:04:26
. @thedanalyst @ianestepan Wasting no time, $MYL has appealed $MDCO Angiomax patent decision. Appeals Court already considering $HSP case.
Stockaholics
28 Oct 14 22:35:34
After 371% Gains Our New Penny Stock Pick Is Coming Tomorrow! Get It Early: http://t.co/Nmnx36zJMR $MYL $ORLY $ALTR
Stockaholics
28 Oct 14 18:30:12
After 371% Gains Our New Penny Stock Pick Is Coming Tomorrow! Get It Early: http://t.co/Nmnx36zJMR $MYL $ORLY $ALTR
Stockaholics
28 Oct 14 10:14:29
After 371% Gains A Major New Penny Stock Pick Is Coming: http://t.co/1aBeBJdWkA $MYL $ORLY $ALTR
Daniel B. Ravicher
28 Oct 14 08:06:41
. @ianestepan DE $HSP judge said "efficient mixing" required in $MDCO Angiomax patent, IL $MYL judge said not. CAFC will decide who's right.
Daniel B. Ravicher
28 Oct 14 08:00:39
. @ianestepan Yesterday's decision in $MDCO v $MYL Angiomax pt case is unimportant. Appeals Court decision in $HSP case is all that matters.
Jacob S Sherkow
28 Oct 14 07:51:46
RT @FiercePharma: Pfizer turns back Mylan's patent challenge to Sutent http://t.co/77ESdn1dxi $PFE $MYL #pharma
Catalyst Global - IR
28 Oct 14 06:55:47
Apricus Bio $APRI - Their distribution partners tell the story $ABT -> $MYL, $NVS, $RCDTF $TKPYY. $ACT holds US rights to Vitaros
Quantpost Healthcare
28 Oct 14 06:43:43
$MYL News: "Medicines Co. prevails in patent challenge from Mylan $MDCO $MYL …" http://t.co/LYI6SMFjti Board view: https://t.co/Ap2Ytv28KC
MarketCurrents
28 Oct 14 06:43:41
Medicines Co. prevails in patent challenge from Mylan http://t.co/ekP39ZdUVO $MDCO $MYL
DailyStockPicks
28 Oct 14 06:13:11
#virtualreality headsets will be the consumer tech gadget for 2015. $MYL investors can profit from Spectra7 $SPVNF: http://t.co/UGK1Sij9xy
Stockaholics
28 Oct 14 06:12:33
After 371% Gains A Major New Penny Stock Pick Is Coming: http://t.co/1aBeBJdWkA $MYL $ORLY $ALTR
Ryan Sellers
28 Oct 14 06:06:48
RT @OpenOutcrier: $MDCO (+14% pre) Mylan $MYL Loses Patent War Against Medicines Co http://t.co/bE0v9jw0ve
Open Outcrier
28 Oct 14 06:05:36
$MDCO (+14% pre) Mylan $MYL Loses Patent War Against Medicines Co http://t.co/bE0v9jw0ve
Julio Martinez
28 Oct 14 05:56:20
RT @USATODAYmoney: "Flash" stocks pour on the profits - think $TXT, $MYL, $TSO http://t.co/UqCrrdgY2O Photo: @CW_network http://t.co/ED6JnW…
Bidness Etc
28 Oct 14 05:30:35
Mylan was found guilty of infringing Medicines Co's patent - http://t.co/zZd010V5jA $MYL $MDCO
LeBron James
28 Oct 14 05:27:25
RT USATODAYmoney "Flash" stocks pour on the profits - think $TXT, $MYL, $TSO http://t.co/kwg82miuca Photo: CW_network http://t.co/gGxMaj4wO6
Kool
28 Oct 14 05:17:29
RT @USATODAYmoney: "Flash" stocks pour on the profits - think $TXT, $MYL, $TSO http://t.co/UqCrrdgY2O Photo: @CW_network http://t.co/ED6JnW…
USA TODAY Money
28 Oct 14 05:15:06
"Flash" stocks pour on the profits - think $TXT, $MYL, $TSO http://t.co/UqCrrdgY2O Photo: @CW_network http://t.co/ED6JnWpuMa
BioInvest
28 Oct 14 04:39:11
$MDCO Complete Angiomax patent victory vs. $MYL; improves negotiating power vs. $HSP
CSIMarket.com
27 Oct 14 19:33:39
Mylan Laboratories $MYL scheduled third quarter earnings release: Mylan Laboratories one of the leading comp... http://t.co/KdMQpyFXHK
Dr. Zoidberg
27 Oct 14 19:05:47
102714 $MYL infringes $MDCO Angiomax '727 patent. Recall, $HSP has Tentative Approval of design around, noninfringe bivalirudin ANDA.
Stockaholics
27 Oct 14 17:29:23
371% Gains And A New Penny Stock Pick Is Coming Today! Get It Early: https://t.co/jbhQATzxpj $MYL $ORLY $ALTR
OPTIONS/STOCK EXPERT
27 Oct 14 15:59:21
$MDCO $MYL Medicines Co. wins patent suit against Mylan, Bloomberg reports
RJ
27 Oct 14 14:03:24
RT @markflowchatter: Looks like $MDCO won that big patent case vs $MYL . Accdg to the US District Court in Illinois.
David Sobek
27 Oct 14 13:51:09
RT @markflowchatter: Looks like $MDCO won that big patent case vs $MYL . Accdg to the US District Court in Illinois.
CoachB
27 Oct 14 13:48:58
RT @WallStJesus: RT @markflowchatter: Looks like $MDCO won that big patent case vs $MYL . Accdg to the US District Court in Illinois.
Daniel B. Ravicher
27 Oct 14 13:47:22
RT @markflowchatter: Looks like $MDCO won that big patent case vs $MYL . Accdg to the US District Court in Illinois.
JE$US
27 Oct 14 13:45:08
RT @markflowchatter: Looks like $MDCO won that big patent case vs $MYL . Accdg to the US District Court in Illinois.
moderneconomist.com
27 Oct 14 13:42:43
RT @markflowchatter: Looks like $MDCO won that big patent case vs $MYL . Accdg to the US District Court in Illinois.
Marc Lehman
27 Oct 14 13:39:26
Looks like $MDCO won that big patent case vs $MYL . Accdg to the US District Court in Illinois.
Money Morty
27 Oct 14 12:33:49
RT @USATODAYmoney: "Flash" stocks pour on the profits - think $TXT, $MYL, $TSO http://t.co/RqPMO2jFzP (Photo: @CW_network) http://t.co/ohtY…
Jason Michaels Wyatt
27 Oct 14 11:22:33
RT @USATODAYmoney: "Flash" stocks pour on the profits - think $TXT, $MYL, $TSO http://t.co/RqPMO2jFzP (Photo: @CW_network) http://t.co/ohtY…
Jahi Faucette
27 Oct 14 11:21:45
RT @USATODAYmoney: "Flash" stocks pour on the profits - think $TXT, $MYL, $TSO http://t.co/RqPMO2jFzP (Photo: @CW_network) http://t.co/ohtY…
Gigabyte Magazine
27 Oct 14 11:21:40
RT @USATODAYmoney: "Flash" stocks pour on the profits - think $TXT, $MYL, $TSO http://t.co/RqPMO2jFzP (Photo: @CW_network) http://t.co/ohtY…
USA TODAY Money
27 Oct 14 11:19:14
"Flash" stocks pour on the profits - think $TXT, $MYL, $TSO http://t.co/RqPMO2jFzP (Photo: @CW_network) http://t.co/ohtYh9VQdQ
				
				
  +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.