MYL has been the topic of several other reports. Bank of America Corp. reiterated a buy rating and set a $70.00 target price on shares of Mylan in a report on Wednesday, August 24th. Wells Fargo & Co. reiterated a market perform rating and set a $44.00 target price on shares of Mylan in a report on Thursday, August 25th. Goldman Sachs Group Inc. restated a conviction-buy rating and issued a $60.00 price target on shares of Mylan in a report on Thursday, August 25th. Evercore ISI restated a hold rating and issued a $49.00 price target on shares of Mylan in a report on Friday, August 26th. Finally, Deutsche Bank AG set a $58.00 price target on shares of Mylan and gave the company a buy rating in a report on Friday, September 23rd. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Mylan presently has an average rating of Buy and a consensus target price of $54.17.
Shares of Mylan (NASDAQ:MYL) opened at 38.12 on Wednesday. The company’s 50-day moving average is $42.90 and its 200 day moving average is $44.47. Mylan has a 12 month low of $37.59 and a 12 month high of $55.51. The company has a market capitalization of $20.39 billion, a price-to-earnings ratio of 24.13 and a beta of 1.25.
Mylan (NASDAQ:MYL) last issued its earnings results on Tuesday, August 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.03. Mylan had a net margin of 8.11% and a return on equity of 23.22%. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the prior year, the business earned $0.91 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. On average, equities research analysts anticipate that Mylan will post $4.96 earnings per share for the current year.
In other news, CEO Heather M. Bresch sold 100,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $50.00, for a total transaction of $5,010,000.00. Following the sale, the chief executive officer now owns 828,318 shares of the company’s stock, valued at approximately $41,415,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.71% of the company’s stock.
Several large investors have recently modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Mylan during the second quarter worth approximately $746,000. Kentucky Retirement Systems bought a new stake in Mylan during the second quarter worth about $1,570,000. Mason Street Advisors LLC bought a new stake in Mylan during the second quarter worth about $2,487,000. Northwestern Mutual Wealth Management Co. boosted its stake in Mylan by 48.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,235 shares of the company’s stock worth $184,000 after buying an additional 1,388 shares in the last quarter. Finally, CI Global Investments Inc. bought a new stake in Mylan during the second quarter worth about $4,756,000. 60.20% of the stock is currently owned by institutional investors and hedge funds.
Mylan Company Profile
Mylan N.V. is a global pharmaceutical company. The Company develops, licenses, manufactures, markets and distributes generic and branded generic products for resale by others; specialty pharmaceuticals, and active pharmaceutical ingredients (APIs). It operates through two segments: Generics and Specialty.
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