Price Action Don’t Lie: Could Mylan NV Change Direction After Achieving 1 Year Low?

Price Action Don't Lie: Could Mylan NV Change Direction After Achieving 1 Year Low?

The stock of Mylan NV (NASDAQ:MYL) hit a new 52-week low and has $34.43 target or 9.00% below today’s $37.84 share price. The 9 months bearish chart indicates high risk for the $20.43B company. The 1-year low was reported on Oct, 3 by Barchart.com. If the $34.43 price target is reached, the company will be worth $1.84 billion less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 6.74 million shares traded hands. Mylan NV (NASDAQ:MYL) has declined 15.42% since February 29, 2016 and is downtrending. It has underperformed by 27.64% the S&P500.

Analysts await Mylan NV (NASDAQ:MYL) to report earnings on November, 4. They expect $1.60 earnings per share, up 11.89% or $0.17 from last year’s $1.43 per share. MYL’s profit will be $863.85M for 5.91 P/E if the $1.60 EPS becomes a reality. After $1.16 actual earnings per share reported by Mylan NV for the previous quarter, Wall Street now forecasts 37.93% EPS growth.

Mylan NV (NASDAQ:MYL) Ratings Coverage

Out of 13 analysts covering Mylan Inc. (NASDAQ:MYL), 7 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 54% are positive. Mylan Inc. has been the topic of 24 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The company was downgraded on Monday, August 17 by Zacks. The rating was maintained by RBC Capital Markets on Tuesday, September 6 with “Sector Perform”. The firm earned “Market Perform” rating on Friday, February 19 by Wells Fargo. The company was initiated on Wednesday, August 26 by Standpoint Research. The firm has “Hold” rating given on Thursday, August 27 by Zacks. As per Wednesday, November 18, the company rating was reinitiated by JP Morgan. The stock of Mylan NV (NASDAQ:MYL) earned “Outperform” rating by Leerink Swann on Saturday, August 29. Leerink Swann maintained the stock with “Outperform” rating in Monday, August 15 report. On Friday, November 13 the stock rating was upgraded by Citigroup to “Buy”. The stock has “Equal Weight” rating given by Barclays Capital on Monday, September 21.

According to Zacks Investment Research, “Mylan NV is a pharmaceutical company. The company develops, licenses, manufactures, markets and distributes generic and specialty pharmaceuticals. It operates primarily in the United States, Canada, Europe, the Middle East, Africa, India, Australia, Japan and New Zealand. Mylan NV, formerly known as Mylan Inc., is based in Canonsburg, Pennsylvania.”

Insitutional Activity: The institutional sentiment decreased to 0.45 in Q2 2016. Its down 0.05, from 0.5 in 2016Q1. The ratio is negative, as 6 funds sold all Mylan NV shares owned while 5 reduced positions. 1 funds bought stakes while 4 increased positions. They now own 533,685 shares or 37.96% less from 860,251 shares in 2016Q1.
Ntv Asset Mngmt Ltd Liability Co holds 15,990 shares or 0.26% of its portfolio. Research And Management holds 0.03% of its portfolio in Mylan NV (NASDAQ:MYL) for 1,600 shares. Icon Advisers Inc Communication last reported 35,000 shares in the company. Covington Cap Mgmt holds 0.16% of its portfolio in Mylan NV (NASDAQ:MYL) for 39,339 shares. Eagle Asset Mgmt Inc reported 56,209 shares or 0.02% of all its holdings. The California-based Jacobs & Ca has invested 0.07% in Mylan NV (NASDAQ:MYL). Vantage Inv Advisors Llc accumulated 712 shares or 0.01% of the stock. Princeton Strategies Group Inc Inc Ltd Liability Company reported 135,477 shares or 1.89% of all its holdings. Westport has invested 0.37% of its portfolio in Mylan NV (NASDAQ:MYL). Gulf Intll Fincl Bank (Uk) Limited has invested 0.09% of its portfolio in Mylan NV (NASDAQ:MYL). Gemmer Asset Mngmt Lc holds 21 shares or 0% of its portfolio. Novare Cap Ltd holds 0.93% or 79,851 shares in its portfolio.

More notable recent Mylan NV (NASDAQ:MYL) news were published by: Schaeffersresearch.com which released: “Options Traders, HIllary Clinton Target Mylan NV, Wells Fargo & Co” on October 03, 2016, also Wsj.com with their article: “Mylan’s EpiPen Pretax Profits 60% Higher Than Number Told to Congress” published on September 26, 2016, Bloomberg.com published: “Mylan EpiPen Files Sought as West Virginia Opens Fraud Probe” on September 20, 2016. More interesting news about Mylan NV (NASDAQ:MYL) were released by: Schaeffersresearch.com and their article: “Analyst Downgrades: CalAmp Corp., Stein Mart, Inc., and Mylan NV” published on September 30, 2016 as well as Reuters.com‘s news article titled: “US agency told Mylan that EpiPen was misclassified” with publication date: September 28, 2016.

MYL Company Profile

Mylan N.V., incorporated on July 7, 2014, is a global pharmaceutical company. The Firm develops, licenses, makes, markets and distributes generic, branded generic products for resale by others; specialty pharmaceuticals, and active pharmaceutical ingredients (APIs). The Firm operates through two divisions: Generics and Specialty. The principal markets for Generics are pharmaceutical wholesalers and distributors; group purchasing organizations; drug store chains; independent pharmacies; drug manufacturers; institutions, and public and governmental agencies primarily within the United States and Canada (collectively, North America); Europe, and India, Australia, Japan, New Zealand and Brazil (collectively, Rest of World). The Generics segment also focuses on developing API with non-infringing processes for both internal use and to partner with manufacturers in regulated markets, such as the United States and the European Union at market formation. The principal market for Specialty is pharmaceutical wholesalers and distributors, pharmacies and healthcare institutions primarily in the United States.

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