JPMorgan Chase & Co. Reiterates “$52.00” Price Target for Mylan Inc. (MYL)
Several other equities analysts have also recently weighed in on MYL. Leerink Swann set a $45.00 price objective on shares of Mylan and gave the stock a buy rating in a research note on Saturday, October 1st. Wells Fargo & Co. set a $44.00 price objective on shares of Mylan and gave the stock a hold rating in a research note on Saturday, October 1st. Zacks Investment Research upgraded shares of Mylan from a hold rating to a buy rating and set a $49.00 price objective on the stock in a research note on Tuesday, July 5th. Argus set a $55.00 price objective on shares of Mylan and gave the stock a buy rating in a research note on Thursday, September 22nd. Finally, TheStreet cut shares of Mylan from a buy rating to a hold rating in a research note on Wednesday, September 28th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $53.49.
Mylan (NASDAQ:MYL) opened at 37.07 on Monday. The stock has a market cap of $19.83 billion, a PE ratio of 23.46 and a beta of 1.14. The company’s 50-day moving average is $40.47 and its 200 day moving average is $44.02. Mylan has a 52 week low of $35.58 and a 52 week high of $55.51.
Mylan (NASDAQ:MYL) last posted its earnings results on Tuesday, August 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.03. The business had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Mylan had a net margin of 8.11% and a return on equity of 23.22%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 EPS. On average, analysts expect that Mylan will post $4.95 earnings per share for the current fiscal year.
In related news, CEO Heather M. Bresch sold 100,200 shares of the firm’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $50.00, for a total value of $5,010,000.00. Following the completion of the transaction, the chief executive officer now directly 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 is available at the SEC website. 0.71% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can acquired a new stake in Mylan during the second quarter valued at $34,668,000. Strs Ohio increased its stake in Mylan by 4.5% in the second quarter. Strs Ohio now owns 268,295 shares of the company’s stock valued at $11,601,000 after buying an additional 11,633 shares during the period. Canada Pension Plan Investment Board increased its stake in Mylan by 85.3% in the first quarter. Canada Pension Plan Investment Board now owns 10,425 shares of the company’s stock valued at $483,000 after buying an additional 4,800 shares during the period. Deerfield Management Co. increased its stake in Mylan by 73.5% in the first quarter. Deerfield Management Co. now owns 1,832,535 shares of the company’s stock valued at $84,938,000 after buying an additional 776,535 shares during the period. Finally, Integrated Investment Consultants LLC acquired a new stake in Mylan during the second quarter valued at $145,000. 60.20% of the stock is owned by institutional investors.
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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