Mylan Inc. (MYL) Receives “Buy” Rating from BTIG Research
Mylan Inc. (NASDAQ:MYL)‘s stock had its “buy” rating restated by equities research analysts at BTIG Research in a research report issued to clients and investors on Monday. They currently have a $55.00 price target on the stock. BTIG Research’s target price points to a potential upside of 53.03% from the company’s current price.
MYL has been the subject of several other reports. Zacks Investment Research raised Mylan from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Tuesday, July 5th. Leerink Swann set a $45.00 price target on Mylan and gave the stock a “buy” rating in a report on Saturday, October 1st. TheStreet raised Mylan from a “hold” rating to a “buy” rating in a report on Friday, August 12th. JPMorgan Chase & Co. set a $52.00 target price on Mylan and gave the company a “buy” rating in a report on Tuesday, October 4th. Finally, Raymond James Financial Inc. raised Mylan from a “market perform” rating to a “strong-buy” rating and set a $57.00 target price for the company in a report on Monday. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $53.49.
Mylan (NASDAQ:MYL) traded up 8.85% during mid-day trading on Monday, reaching $39.12. 15,193,259 shares of the company were exchanged. Mylan has a 1-year low of $35.58 and a 1-year high of $55.51. 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 P/E ratio of 24.76 and a beta of 1.14.
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Mylan (NASDAQ:MYL) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $1.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.03. The business earned $2.56 billion during the quarter, compared to the consensus estimate of $2.58 billion. Mylan had a return on equity of 23.22% and a net margin of 8.11%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 earnings per share. Equities research analysts forecast that Mylan will post $4.95 earnings per share for the current year.
In other Mylan news, CEO Heather M. Bresch sold 100,200 shares of Mylan stock in a transaction dated 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 owns 828,318 shares in the company, valued at approximately $41,415,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.71% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in Mylan by 1.2% in the first quarter. Wellington Management Group LLP now owns 45,335,578 shares of the company’s stock valued at $2,101,304,000 after buying an additional 551,453 shares in the last quarter. Vanguard Group Inc. raised its position in Mylan by 5.7% in the second quarter. Vanguard Group Inc. now owns 26,441,320 shares of the company’s stock valued at $1,143,323,000 after buying an additional 1,431,929 shares in the last quarter. State Street Corp raised its position in Mylan by 1.9% in the second quarter. State Street Corp now owns 17,057,413 shares of the company’s stock valued at $737,566,000 after buying an additional 315,552 shares in the last quarter. BlackRock Fund Advisors raised its position in Mylan by 11.0% in the second quarter. BlackRock Fund Advisors now owns 12,112,864 shares of the company’s stock valued at $523,760,000 after buying an additional 1,204,050 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in Mylan by 4.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 10,995,727 shares of the company’s stock valued at $475,455,000 after buying an additional 509,821 shares in the last quarter. 60.20% of the stock is currently owned by institutional investors and hedge funds.
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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