Mylan Inc. (NASDAQ:MYL) received a $52.00 price objective from analysts at JPMorgan Chase & Co. in a report released on Tuesday. The brokerage presently has a a “buy” rating on the stock. JPMorgan Chase & Co.’s price target points to a potential upside of 36.73% from the company’s current price.
Other equities research analysts also recently issued reports about the company. BTIG Research reiterated a “buy” rating and issued a $60.00 target price on shares of Mylan in a report on Tuesday, August 30th. Bank of America Corp. reiterated a “buy” rating and issued a $70.00 target price on shares of Mylan in a report on Wednesday, August 24th. TheStreet upgraded Mylan from a “hold” rating to a “buy” rating in a report on Friday, August 12th. Zacks Investment Research upgraded Mylan from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Tuesday, July 5th. Finally, Deutsche Bank AG set a $58.00 price objective on Mylan and gave the company a “buy” rating in a report on Friday, September 23rd. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $53.58.
Shares of Mylan (NASDAQ:MYL) opened at 38.03 on Tuesday. The firm has a market cap of $20.34 billion, a P/E ratio of 24.07 and a beta of 1.14. Mylan has a 1-year low of $37.41 and a 1-year high of $55.51. The firm’s 50-day moving average is $42.00 and its 200-day moving average is $44.31.
Mylan (NASDAQ:MYL) last issued its earnings results on Tuesday, August 9th. The company reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.03. The business earned $2.56 billion during the quarter, compared to the consensus estimate of $2.58 billion. Mylan had a return on equity of 23.22% and a net margin of 8.11%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 earnings per share. On average, analysts anticipate that Mylan will post $4.96 EPS for the current fiscal year.
In other Mylan news, CEO Heather M. Bresch sold 100,200 shares of the business’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $50.00, for a total value of $5,010,000.00. Following the transaction, the chief executive officer now owns 828,318 shares of the company’s stock, valued at $41,415,900. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.71% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Chevy Chase Trust Holdings Inc. boosted its position in shares of Mylan by 5.2% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 386,275 shares of the company’s stock worth $14,724,000 after buying an additional 19,080 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Mylan by 386.8% in the third quarter. BNP Paribas Arbitrage SA now owns 968,435 shares of the company’s stock worth $36,917,000 after buying an additional 769,500 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Mylan during the second quarter worth about $746,000. Kentucky Retirement Systems bought a new stake in Mylan during the second quarter worth about $1,570,000. Finally, Mason Street Advisors LLC bought a new stake in Mylan during the second quarter worth about $2,487,000. 60.20% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Mylan Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mylan Inc. and related companies with MarketBeat.com's FREE daily email newsletter.