Mylan Rating Reiterated by Sanford C. Bernstein (MYL)
Mylan (NYSE: MYL)‘s stock had its “outperform” rating reiterated by investment analysts at Sanford C. Bernstein in a note issued to investors on Thursday. They currently have a $33.00 target price on the stock.
Mylan traded down 1.16% on Thursday, hitting $30.62. Mylan has a 52-week low of $20.21 and a 52-week high of $31.22. The stock’s 50-day moving average is currently $29.23. The company has a market cap of $12.112 billion and a price-to-earnings ratio of 20.38.
Mylan last posted its quarterly earnings results on Wednesday, February 27th. The company reported $0.65 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.64 by $0.01. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the company posted $0.53 earnings per share. Mylan’s revenue was up 11.9% compared to the same quarter last year. Mylan has set its FY13 guidance at $2.75-2.95 EPS. On average, analysts predict that Mylan will post $2.86 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital raised their price target on shares of Mylan from $29.00 to $31.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Canaccord Genuity downgraded shares of Mylan from a “buy” rating to a “hold” rating in a research note to investors on Monday. They now have a $33.00 price target on the stock. Finally, analysts at Bank of America reiterated a “buy” rating on shares of Mylan in a research note to investors on Monday, March 4th. They now have a $34.00 price target on the stock, up previously from $33.00.
Eleven investment analysts have rated the stock with a buy rating, two have issued an overweight rating, seven have assigned a hold rating, and one has assigned an underweight rating to the company. The company has a consensus rating of “overweight” and an average target price of $32.93.
Mylan, Inc. develops and markets generics along with a number of proprietary drugs. The Company’s product is for the treatment of migraine headaches, an orphan drug for the on/off fluctuation in people with Parkinson’s disease, and a wound care product to treat diabetic foot ulcers.
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