Mylan (MYL) Upgraded to Hold at Zacks Investment Research
Mylan (NASDAQ:MYL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Mylan received a major boost with the FDA approval for a generic version of Copaxone 40mg. The company being one of the first filers, will also enjoy 180 days of exclusivity. The FDA approval of biosimilar version of Herceptin will also boost the biosimilars portfolio. However, Mylan’s performance in 2017 was impacted by ongoing challenges in North America. The third quarter experienced an accelerated decline in EpiPen sales due to the launch of an authorized generic as well as the contraction of the overall epinephrine auto-injector market. Sales are expected to decline further. Moreover, the complete response letter from the FDA regarding its abbreviated new drug application ANDA for the generic version of asthma drug Advair Diskus was a setback given the market potential. Shares have performed better than the industry in the last one year.”
Several other research analysts have also recently issued reports on MYL. Wells Fargo & Co set a $32.00 target price on shares of Mylan and gave the stock a “hold” rating in a report on Wednesday, October 4th. Morgan Stanley increased their target price on shares of Mylan from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, October 6th. BidaskClub upgraded shares of Mylan from a “hold” rating to a “buy” rating in a report on Friday, October 27th. BMO Capital Markets reiterated a “buy” rating and set a $45.00 target price on shares of Mylan in a report on Friday, September 29th. Finally, ValuEngine upgraded shares of Mylan from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Mylan has a consensus rating of “Buy” and a consensus target price of $43.64.
Mylan (MYL) traded up $0.19 during mid-day trading on Tuesday, reaching $46.90. 5,816,200 shares of the company traded hands, compared to its average volume of 6,620,956. The stock has a market cap of $25,160.00, a P/E ratio of 28.25, a PEG ratio of 1.49 and a beta of 1.38. Mylan has a 52 week low of $29.39 and a 52 week high of $47.19. The company has a quick ratio of 0.95, a current ratio of 1.46 and a debt-to-equity ratio of 1.05.
Mylan (NASDAQ:MYL) last posted its quarterly earnings results on Monday, November 6th. The company reported $1.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.10). The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Mylan had a return on equity of 20.63% and a net margin of 7.28%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.38 EPS. analysts predict that Mylan will post 4.56 earnings per share for the current fiscal year.
In other news, CEO Heather M. Bresch sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $45.00, for a total value of $3,375,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.69% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its holdings in shares of Mylan by 76.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,393 shares of the company’s stock valued at $106,000 after buying an additional 1,475 shares in the last quarter. BT Investment Management Ltd purchased a new position in shares of Mylan in the 3rd quarter valued at approximately $142,000. Doliver Capital Advisors LP purchased a new position in shares of Mylan in the 2nd quarter valued at approximately $201,000. Parametrica Management Ltd purchased a new position in shares of Mylan in the 3rd quarter valued at approximately $224,000. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Mylan in the 3rd quarter valued at approximately $227,000. Institutional investors and hedge funds own 74.90% 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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