BTIG Research Reiterates Buy Rating for Mylan Inc. (MYL)
Mylan Inc. (NASDAQ:MYL)‘s stock had its “buy” rating reaffirmed by equities research analysts at BTIG Research in a note issued to investors on Monday. They currently have a $55.00 target price on the stock. BTIG Research’s price objective suggests a potential upside of 53.03% from the company’s current price.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut Mylan from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Evercore ISI reiterated a “hold” rating and issued a $49.00 price target on shares of Mylan in a research note on Friday, August 26th. Sanford C. Bernstein set a $60.00 price target on Mylan and gave the stock a “buy” rating in a research note on Friday, September 23rd. Deutsche Bank AG set a $58.00 price target on Mylan and gave the stock a “buy” rating in a research note on Friday, September 23rd. Finally, Argus set a $55.00 price target on Mylan and gave the stock a “buy” rating in a research note on Thursday, September 22nd. Eleven research 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 has a consensus rating of “Buy” and an average price target of $53.49.
Mylan (NASDAQ:MYL) traded up 8.85% on Monday, reaching $39.12. The company had a trading volume of 15,560,705 shares. The stock has a 50 day moving average of $41.27 and a 200 day moving average of $44.19. The firm has a market capitalization of $20.93 billion, a PE ratio of 24.76 and a beta of 1.14. Mylan has a 12 month low of $35.58 and a 12 month high of $55.51.
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Mylan (NASDAQ:MYL) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.03. Mylan had a return on equity of 23.22% and a net margin of 8.11%. The firm earned $2.56 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the business earned $0.91 earnings per share. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, analysts anticipate that Mylan will post $4.95 EPS 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 sale, the chief executive officer now directly owns 828,318 shares in the company, valued at $41,415,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.71% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in MYL. Exxonmobil Investment Management Inc. TX increased its stake in shares of Mylan by 6.3% in the third quarter. Exxonmobil Investment Management Inc. TX now owns 117,460 shares of the company’s stock worth $4,478,000 after buying an additional 6,923 shares during the period. 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 worth $14,724,000 after buying an additional 19,080 shares during the last quarter. 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 worth $36,917,000 after buying an additional 769,500 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Mylan during the second quarter worth about $746,000. Finally, Kentucky Retirement Systems acquired a new stake in Mylan during the second quarter worth about $1,570,000. Institutional investors own 60.20% of the company’s stock.
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.
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