Mylan Inc. (MYL) PT Set at $55.00 by Argus
Mylan Inc. (NASDAQ:MYL) has been given a $55.00 price target by equities research analysts at Argus in a report issued on Thursday. The firm currently has a a “buy” rating on the stock. Argus’ target price points to a potential upside of 29.14% from the stock’s current price.
A number of other brokerages have also commented on MYL. Zacks Investment Research raised Mylan from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Tuesday, July 5th. TheStreet raised Mylan from a “hold” rating to a “buy” rating in a research note on Friday, August 12th. BTIG Research restated a “buy” rating and set a $60.00 price objective on shares of Mylan in a research report on Tuesday, August 30th. RBC Capital Markets decreased their price objective on Mylan from $52.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Tuesday, September 6th. Finally, Bank of America Corp. restated a “buy” rating and set a $70.00 price objective on shares of Mylan in a research report on Wednesday, August 24th. Ten equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $54.76.
Shares of Mylan (NASDAQ:MYL) traded down 1.13% during midday trading on Thursday, hitting $42.11. The stock had a trading volume of 2,211,312 shares. Mylan has a 52-week low of $37.59 and a 52-week high of $55.51. The company’s 50 day moving average is $44.38 and its 200 day moving average is $44.76. The company has a market cap of $22.53 billion, a PE ratio of 26.65 and a beta of 1.25.
Mylan (NASDAQ:MYL) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.03. Mylan had a return on equity of 23.22% and a net margin of 8.11%. The company earned $2.56 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the company earned $0.91 earnings per share. The firm’s revenue was up 8.0% on a year-over-year basis. On average, analysts anticipate that Mylan will post $4.96 earnings per share for the current year.
In other Mylan 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.71% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Berkeley Capital Partners LLC acquired a new stake in Mylan during the first quarter worth $314,000. Sentry Investment Management LLC boosted its stake in Mylan by 2.3% in the first quarter. Sentry Investment Management LLC now owns 31,172 shares of the company’s stock worth $1,445,000 after buying an additional 691 shares during the last quarter. Howard Hughes Medical Institute acquired a new stake in Mylan during the first quarter worth $847,000. BlackRock Institutional Trust Company N.A. boosted its stake in Mylan by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 10,485,906 shares of the company’s stock worth $486,022,000 after buying an additional 33,675 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd boosted its stake in Mylan by 44.1% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,992,768 shares of the company’s stock worth $92,365,000 after buying an additional 609,570 shares during the last quarter. 60.20% of the stock is currently owned by institutional investors and hedge funds.
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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