Raymond James Financial Inc. upgraded shares of Mylan Inc. (NASDAQ:MYL) from a market perform rating to a strong-buy rating in a report released on Monday. They currently have $57.00 target price on the stock.
MYL has been the subject of several other reports. Zacks Investment Research lowered Mylan from a buy rating to a hold rating in a report on Friday, August 5th. Evercore ISI reaffirmed a hold rating and set a $49.00 target price on shares of Mylan in a report on Friday, August 26th. Sanford C. Bernstein set a $60.00 target price on Mylan and gave the company a buy rating in a report on Friday, September 23rd. Deutsche Bank AG set a $58.00 target price on Mylan and gave the company a buy rating in a report on Friday, September 23rd. Finally, Argus set a $55.00 target price on Mylan and gave the company a buy rating in a report on Thursday, September 22nd. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $53.49.
Mylan (NASDAQ:MYL) opened at 37.88 on Monday. The company’s 50-day moving average price is $40.32 and its 200 day moving average price is $43.98. Mylan has a one year low of $35.58 and a one year high of $55.51. The firm has a market capitalization of $20.26 billion, a PE ratio of 23.97 and a beta of 1.14.
Mylan (NASDAQ:MYL) last posted its earnings results on Tuesday, August 9th. The company reported $1.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.03. The company earned $2.56 billion during the quarter, compared to analyst estimates of $2.58 billion. Mylan had a return on equity of 23.22% and a net margin of 8.11%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 earnings per share. On average, analysts forecast that Mylan will post $4.95 earnings per share for the current year.
In other news, CEO Heather M. Bresch sold 100,200 shares of the 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 completion of the sale, the chief executive officer now owns 828,318 shares in the company, valued at $41,415,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of MYL. Fox Run Management L.L.C. bought a new position in Mylan during the third quarter worth $362,000. Oregon Public Employees Retirement Fund increased its position in Mylan by 73.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 109,426 shares of the company’s stock worth $4,171,000 after buying an additional 46,455 shares during the period. Exxonmobil Investment Management Inc. TX increased its position in Mylan by 6.3% in the third quarter. Exxonmobil Investment Management Inc. TX now owns 117,460 shares of the company’s stock worth $4,478,000 after buying an additional 6,923 shares during the period. Chevy Chase Trust Holdings Inc. increased its position in 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 during the period. Finally, BNP Paribas Arbitrage SA increased its position 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 period. 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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