Shareholder returns and stock trends
The closing price for Mylan (MYL) stock on August 10 was $37.21, and its market capitalization stood at $19.2 billion. The stock registered its 52-week high of $47.82 on January 23 and its 52-week low of $29.39 on August 15, 2017. Currently, MYL stock is trading above its 50-day moving average of $36.80 but below its 200-day moving average of $39.52.
Recent events impacting Mylan’s stock performance
On August 8, MYL stock had declined as much as 7.2% on disappointing second-quarter results that missed analysts’ estimates. However, the stock recovered its losses by the end of the day and closed up ~1.8%.
Over the last two trading days following the company’s second-quarter earnings release, MYL stock has registered a decline of ~3.0%. Over the last week, the stock is down ~3.2%. However, the stock has risen ~1.5% over the last month.
In June, Mylan stock had gained on the news of the partnership agreement with Lupin to commercialize an arthritis biosimilar. Earlier in the month, the stock fell on the news that the company had failed to receive FDA approval for its Advair generic, as discussed in FDA Rejects Mylan’s Generic Advair Again, Stock Falls.
Peer and market comparisons
Year-to-date, Mylan stock has declined ~12.0%. However, it has generated a return of ~15.2% in the trailing 12 months. By comparison, the stock prices of peers Merck (MRK), Novartis (NVS), and Pfizer (PFE) have fallen 6.3%, -1.3% and 22.5%, respectively, in the trailing-12-month period.
Over the same period, the Health Care Select Sector SPDR ETF (XLV) and the S&P 500 Index have risen ~14.4% and ~16.2%, respectively. This shows that Mylan has delivered near-market performance commensurate with the industry returns.
In the next article, we’ll discuss Mylan’s sales performance in the second quarter.
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