Mylan Inc. (MYL) Given a $52.00 Price Target by JPMorgan Chase & Co. Analysts
Mylan Inc. (NASDAQ:MYL) received a $52.00 price target from JPMorgan Chase & Co. in a note issued to investors on Monday. The firm presently has a a “buy” rating on the stock. JPMorgan Chase & Co.’s price objective would indicate a potential upside of 33.78% from the stock’s current price.
A number of other equities analysts have also commented on the stock. Wells Fargo & Co. set a $44.00 price target on shares of Mylan and gave the company a “hold” rating in a research report on Sunday, September 4th. Leerink Swann set a $45.00 price target on shares of Mylan and gave the company a “buy” rating in a research report on Saturday, October 1st. Morgan Stanley restated a “hold” rating on shares of Mylan in a research report on Tuesday, July 12th. RBC Capital Markets restated a “sector perform” rating and issued a $48.00 price target on shares of Mylan in a research report on Monday. Finally, TheStreet lowered shares of Mylan from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Eleven investment 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 stock. Mylan currently has a consensus rating of “Buy” and a consensus price target of $53.49.
Mylan (NASDAQ:MYL) traded down 1.119% on Monday, hitting $38.435. 7,095,898 shares of the company were exchanged. The firm has a market cap of $20.56 billion, a price-to-earnings ratio of 24.326 and a beta of 1.14. The stock has a 50 day moving average price of $40.99 and a 200 day moving average price of $44.11. Mylan has a one year low of $35.58 and a one year high of $55.51.
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Mylan (NASDAQ:MYL) last issued its earnings results on Tuesday, August 9th. The company reported $1.16 earnings per share 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 had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the previous year, the business earned $0.91 EPS. The firm’s revenue was up 8.0% on a year-over-year basis. On average, equities research analysts forecast that Mylan will post $4.95 EPS for the current fiscal year.
In other Mylan 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 value of $5,010,000.00. Following the completion of the sale, the chief executive officer now owns 828,318 shares of the company’s stock, valued at $41,415,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted 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 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 valued at $1,143,323,000 after buying an additional 1,431,929 shares during the last quarter. 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 valued at $737,566,000 after buying an additional 315,552 shares during the last quarter. 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 valued at $523,760,000 after buying an additional 1,204,050 shares during the last quarter. 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 valued at $475,455,000 after buying an additional 509,821 shares during the last quarter. 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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