Mylan Inc. (MYL) Rating Increased to Strong-Buy at Raymond James Financial Inc.
Mylan Inc. (NASDAQ:MYL) was upgraded by analysts at Raymond James Financial Inc. from a “market perform” rating to a “strong-buy” rating in a research note issued on Monday. The firm currently has a $57.00 price objective on the stock. Raymond James Financial Inc.’s price objective points to a potential upside of 58.60% from the company’s previous close.
Several other analysts have also commented on the company. TheStreet raised Mylan from a “hold” rating to a “buy” rating in a research note on Friday, August 12th. 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. reaffirmed an “overweight” rating on shares of Mylan in a research note on Saturday, June 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, Leerink Swann boosted their price target on Mylan from $51.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, August 15th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $53.77.
Mylan (NASDAQ:MYL) traded up 10.57% on Monday, reaching $39.74. The company had a trading volume of 3,873,879 shares. The company has a market capitalization of $21.26 billion, a price-to-earnings ratio of 25.15 and a beta of 1.14. The company’s 50 day moving average price is $41.27 and its 200-day moving average price is $44.19. 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 announced its quarterly earnings results on Tuesday, August 9th. The company reported $1.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.03. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.58 billion. Mylan had a return on equity of 23.22% and a net margin of 8.11%. Mylan’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 EPS. On average, equities analysts predict that Mylan will post $4.95 earnings per share for the current fiscal year.
In other news, CEO Heather M. Bresch sold 100,200 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $50.00, for a total transaction of $5,010,000.00. Following the completion of the transaction, the chief executive officer now directly owns 828,318 shares of the company’s stock, valued at $41,415,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.71% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Park National Corp OH boosted its position in Mylan by 0.5% in the second quarter. Park National Corp OH now owns 5,875 shares of the company’s stock valued at $254,000 after buying an additional 27 shares in the last quarter. E&G Advisors LP boosted its position in Mylan by 0.4% in the second quarter. E&G Advisors LP now owns 11,144 shares of the company’s stock valued at $482,000 after buying an additional 44 shares in the last quarter. M Holdings Securities Inc. boosted its position in Mylan by 0.9% in the second quarter. M Holdings Securities Inc. now owns 6,254 shares of the company’s stock valued at $270,000 after buying an additional 55 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Mylan by 1.1% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 10,595 shares of the company’s stock valued at $412,000 after buying an additional 118 shares in the last quarter. Finally, Conning Inc. boosted its position in Mylan by 1.3% in the second quarter. Conning Inc. now owns 9,671 shares of the company’s stock valued at $418,000 after buying an additional 120 shares in the last quarter. 60.20% of the stock is owned by 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.
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