RBC Capital Markets Reiterates Sector Perform Rating for Mylan Inc. (MYL)
Mylan Inc. (NASDAQ:MYL)‘s stock had its “sector perform” rating reissued by investment analysts at RBC Capital Markets in a research report issued to clients and investors on Monday. They currently have a $48.00 price target on the stock. RBC Capital Markets’ price target indicates a potential upside of 33.56% from the stock’s previous close.
A number of other equities analysts have also recently issued reports on the stock. Raymond James Financial Inc. upgraded shares of Mylan from a “market perform” rating to a “strong-buy” rating and set a $57.00 price target on the stock in a research note on Monday. JPMorgan Chase & Co. set a $52.00 price target on shares of Mylan and gave the stock a “buy” rating in a research note on Tuesday, October 4th. Leerink Swann set a $45.00 price target on shares of Mylan and gave the stock a “buy” rating in a research note on Saturday, October 1st. Wells Fargo & Co. set a $44.00 target price on shares of Mylan and gave the company a “hold” rating in a research note on Saturday, October 1st. Finally, TheStreet cut shares of Mylan from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average 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. 15,560,705 shares of the company were exchanged. Mylan has a one year low of $35.58 and a one year high of $55.51. The company has a market capitalization of $20.93 billion, a PE ratio of 24.76 and a beta of 1.14. The stock has a 50-day moving average price of $41.27 and a 200 day moving average price of $44.19.
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Mylan (NASDAQ:MYL) last released its earnings results on Tuesday, August 9th. The company reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.03. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.58 billion. Mylan had a net margin of 8.11% and a return on equity of 23.22%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. Analysts predict 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 stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $50.00, for a total transaction of $5,010,000.00. Following the completion of the sale, the chief executive officer now directly owns 828,318 shares of the company’s stock, valued at approximately $41,415,900. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.71% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Park National Corp OH increased 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 worth $254,000 after buying an additional 27 shares in the last quarter. E&G Advisors LP increased 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 worth $482,000 after buying an additional 44 shares in the last quarter. M Holdings Securities Inc. increased 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 worth $270,000 after buying an additional 55 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased 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 worth $412,000 after buying an additional 118 shares in the last quarter. Finally, Conning Inc. increased its position in Mylan by 1.3% in the second quarter. Conning Inc. now owns 9,671 shares of the company’s stock worth $418,000 after buying an additional 120 shares in the last quarter. Hedge funds and other 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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