Mylan’s (MYL) “Sector Perform” Rating Reaffirmed at RBC Capital Markets
Mylan Inc. (NASDAQ:MYL)‘s stock had its “sector perform” rating restated by RBC Capital Markets in a report released on Monday. They currently have a $48.00 price objective on the stock. RBC Capital Markets’ price target points to a potential upside of 33.56% from the stock’s current price.
A number of other equities research analysts have also recently issued reports on MYL. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Mylan in a research report on Saturday, June 25th. Zacks Investment Research raised Mylan from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Tuesday, July 5th. Morgan Stanley reaffirmed a “hold” rating on shares of Mylan in a research report on Tuesday, July 12th. Leerink Swann upped their target price on Mylan from $51.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, August 15th. Finally, TheStreet raised Mylan from a “hold” rating to a “buy” rating in a research report on Friday, August 12th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $53.77.
Shares of Mylan (NASDAQ:MYL) traded up 8.88% during mid-day trading on Monday, hitting $39.13. 13,740,402 shares of the company were exchanged. The stock’s 50-day moving average price is $41.27 and its 200 day moving average price is $44.19. The stock has a market cap of $20.93 billion, a PE ratio of 24.77 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 released its quarterly earnings data on Tuesday, August 9th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.03. Mylan had a return on equity of 23.22% and a net margin of 8.11%. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. The firm’s revenue was up 8.0% on a year-over-year basis. On average, equities analysts anticipate that Mylan will post $4.95 EPS for the current fiscal year.
In related 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 directly owns 828,318 shares in the company, valued at $41,415,900. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.71% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Mylan by 1.2% in the first quarter. Wellington Management Group LLP now owns 45,335,578 shares of the company’s stock worth $2,101,304,000 after buying an additional 551,453 shares during the period. Vanguard Group Inc. boosted its position in shares of Mylan by 5.7% in the second quarter. Vanguard Group Inc. now owns 26,441,320 shares of the company’s stock worth $1,143,323,000 after buying an additional 1,431,929 shares during the period. State Street Corp boosted its position in shares of Mylan by 1.9% in the second quarter. State Street Corp now owns 17,057,413 shares of the company’s stock worth $737,566,000 after buying an additional 315,552 shares during the period. BlackRock Fund Advisors boosted its position in shares of Mylan by 11.0% in the second quarter. BlackRock Fund Advisors now owns 12,112,864 shares of the company’s stock worth $523,760,000 after buying an additional 1,204,050 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of 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 worth $475,455,000 after buying an additional 509,821 shares during the period. Hedge funds and other institutional investors own 60.20% 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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