Mylan’s (MYL) “Buy” Rating Reaffirmed at BTIG Research
BTIG Research reiterated their buy rating on shares of Mylan Inc. (NASDAQ:MYL) in a research report sent to investors on Tuesday morning. BTIG Research currently has a $55.00 price objective on the stock.
MYL has been the topic of several other research reports. Bank of America Corp. reaffirmed a buy rating and issued a $70.00 price target on shares of Mylan in a research note on Wednesday, August 24th. JPMorgan Chase & Co. set a $52.00 price target on Mylan and gave the company a buy rating in a research note on Tuesday, October 4th. Wells Fargo & Co. reaffirmed a market perform rating and issued a $44.00 price target on shares of Mylan in a research note on Thursday, August 25th. Goldman Sachs Group Inc. reaffirmed a conviction-buy rating and issued a $60.00 price target on shares of Mylan in a research note on Thursday, August 25th. Finally, Evercore ISI reaffirmed a hold rating and issued a $49.00 price target on shares of Mylan in a research note on Friday, August 26th. Eleven analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Mylan currently has an average rating of Buy and an average target price of $52.83.
Mylan (NASDAQ:MYL) opened at 36.06 on Tuesday. Mylan has a 52 week low of $33.60 and a 52 week high of $55.51. The company’s 50-day moving average price is $37.27 and its 200 day moving average price is $42.19. The company has a market cap of $19.30 billion, a PE ratio of 72.26 and a beta of 1.10.
Mylan (NASDAQ:MYL) last announced its quarterly earnings results on Wednesday, November 9th. The company reported $1.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by $0.07. The company earned $3.06 billion during the quarter, compared to analyst estimates of $3.12 billion. Mylan had a net margin of 2.50% and a return on equity of 22.04%. Mylan’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.43 EPS. On average, analysts anticipate that Mylan will post $4.76 EPS for the current year.
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A number of large investors have recently added to or reduced their stakes in MYL. Advisory Services Network LLC boosted its position in Mylan by 43.6% in the second quarter. Advisory Services Network LLC now owns 2,537 shares of the company’s stock valued at $110,000 after buying an additional 770 shares in the last quarter. Kernodle & Katon Asset Management Group LLC increased its position in Mylan by 4.7% in the third quarter. Kernodle & Katon Asset Management Group LLC now owns 2,884 shares of the company’s stock worth $110,000 after buying an additional 129 shares during the last quarter. Checchi Capital Advisers LLC increased its position in Mylan by 6.6% in the second quarter. Checchi Capital Advisers LLC now owns 2,637 shares of the company’s stock worth $114,000 after buying an additional 164 shares during the last quarter. Mosaic Family Wealth LLC raised its stake in shares of Mylan by 12.5% in the third quarter. Mosaic Family Wealth LLC now owns 3,600 shares of the company’s stock worth $137,000 after buying an additional 400 shares in the last quarter. Finally, Integrated Investment Consultants LLC purchased a new stake in shares of Mylan during the second quarter worth about $145,000. Institutional investors and hedge funds own 60.29% of the company’s stock.
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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