Mylan Inc. (MYL) Given a $52.00 Price Target at JPMorgan Chase & Co.
Mylan Inc. (NASDAQ:MYL) received a $52.00 price objective from stock analysts at JPMorgan Chase & Co. in a research report issued on Monday. The firm currently has a a “buy” rating on the stock. JPMorgan Chase & Co.’s price objective suggests a potential upside of 33.78% from the stock’s previous close.
Other equities analysts have also issued reports about the stock. BTIG Research reaffirmed a “buy” rating and set a $60.00 target price on shares of Mylan in a report on Tuesday, August 30th. Bank of America Corp. reaffirmed a “buy” rating and set a $70.00 target price on shares of Mylan in a report on Wednesday, August 24th. TheStreet raised shares of Mylan from a “hold” rating to a “buy” rating in a report on Friday, August 12th. Zacks Investment Research raised shares of Mylan from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Tuesday, July 5th. Finally, Deutsche Bank AG set a $58.00 price target on shares of Mylan and gave the stock a “buy” rating in a report on Friday, September 23rd. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $53.49.
Mylan (NASDAQ:MYL) traded down 1.78% during trading on Monday, reaching $38.18. 5,872,764 shares of the company’s stock traded hands. Mylan has a one year low of $35.58 and a one year high of $55.51. The company has a 50-day moving average price of $40.99 and a 200 day moving average price of $44.11. The firm has a market capitalization of $20.42 billion, a PE ratio of 24.16 and a beta of 1.14.
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Mylan (NASDAQ:MYL) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.13 by $0.03. Mylan had a net margin of 8.11% and a return on equity of 23.22%. The business earned $2.56 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the previous year, the business posted $0.91 EPS. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, analysts anticipate that Mylan will post $4.95 earnings per share for the current fiscal year.
In related news, CEO Heather M. Bresch sold 100,200 shares of the company’s 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 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 can be accessed through this link. Corporate insiders own 0.71% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Prudential Financial Inc. raised its stake in Mylan by 2.0% in the first quarter. Prudential Financial Inc. now owns 504,859 shares of the company’s stock worth $23,400,000 after buying an additional 10,030 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new position in shares of Mylan during the first quarter valued at approximately $2,656,000. Canada Pension Plan Investment Board raised its position in shares of Mylan by 85.3% in the first quarter. Canada Pension Plan Investment Board now owns 10,425 shares of the company’s stock valued at $483,000 after buying an additional 4,800 shares in the last quarter. BB&T Securities LLC raised its position in shares of Mylan by 480.2% in the first quarter. BB&T Securities LLC now owns 84,693 shares of the company’s stock valued at $3,925,000 after buying an additional 70,095 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its position in shares of Mylan by 147.5% in the first quarter. Rafferty Asset Management LLC now owns 78,716 shares of the company’s stock valued at $3,648,000 after buying an additional 46,911 shares in the last quarter. 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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