Mylan’s (MYL) “Sector Perform” Rating Reiterated at RBC Capital Markets
RBC Capital Markets reiterated their sector perform rating on shares of Mylan Inc. (NASDAQ:MYL) in a research report sent to investors on Monday morning. RBC Capital Markets currently has a $48.00 price objective on the stock.
A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. reiterated an overweight rating on shares of Mylan in a report on Saturday, June 25th. Zacks Investment Research upgraded Mylan from a hold rating to a buy rating and set a $49.00 price target on the stock in a report on Tuesday, July 5th. Morgan Stanley reiterated a hold rating on shares of Mylan in a report on Tuesday, July 12th. Leerink Swann lifted their price target on Mylan from $51.00 to $55.00 and gave the company an outperform rating in a report on Monday, August 15th. Finally, TheStreet upgraded Mylan from a hold rating to a buy rating in a report on Friday, August 12th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Mylan presently has an average rating of Buy and an average price target of $53.49.
Shares of Mylan (NASDAQ:MYL) opened at 37.07 on Monday. The stock has a market capitalization of $19.83 billion, a P/E ratio of 23.46 and a beta of 1.14. Mylan has a one year low of $35.58 and a one year high of $55.51. The company’s 50 day moving average price is $40.47 and its 200 day moving average price is $44.02.
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 Zacks’ 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 return on equity of 23.22% and a net margin of 8.11%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 EPS. On average, equities analysts expect that Mylan will post $4.95 earnings per share for the current year.
In other Mylan news, CEO Heather M. Bresch sold 100,200 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 828,318 shares of the company’s stock, valued at approximately $41,415,900. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.71% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Fox Run Management L.L.C. bought a new stake in Mylan during the third quarter valued at $362,000. Oregon Public Employees Retirement Fund raised its stake in Mylan by 73.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 109,426 shares of the company’s stock valued at $4,171,000 after buying an additional 46,455 shares in the last quarter. Exxonmobil Investment Management Inc. TX raised its stake in Mylan by 6.3% in the third quarter. Exxonmobil Investment Management Inc. TX now owns 117,460 shares of the company’s stock valued at $4,478,000 after buying an additional 6,923 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in Mylan by 5.2% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 386,275 shares of the company’s stock valued at $14,724,000 after buying an additional 19,080 shares in the last quarter. Finally, 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 valued at $36,917,000 after buying an additional 769,500 shares in the last quarter. 60.20% of the stock is 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.