Morgan Stanley Cuts Mylan N.V. (MYL) Price Target to $36.00
Mylan N.V. (NASDAQ:MYL) had its target price decreased by equities research analysts at Morgan Stanley from $52.00 to $36.00 in a research note issued on Monday, Marketbeat reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 9.36% from the company’s previous close.
Other research analysts also recently issued research reports about the stock. Deutsche Bank AG decreased their price target on shares of Mylan N.V. from $52.00 to $51.00 and set a “buy” rating for the company in a research note on Tuesday, April 18th. Royal Bank Of Canada set a $41.00 price target on shares of Mylan N.V. and gave the stock a “hold” rating in a research note on Saturday, May 13th. Zacks Investment Research upgraded shares of Mylan N.V. from a “sell” rating to a “hold” rating in a research report on Thursday, May 25th. ValuEngine downgraded shares of Mylan N.V. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Finally, BidaskClub upgraded shares of Mylan N.V. from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $50.21.
Mylan N.V. (NASDAQ:MYL) traded down 2.1303% during midday trading on Monday, reaching $32.2187. 12,971,046 shares of the company were exchanged. Mylan N.V. has a 52 week low of $31.47 and a 52 week high of $50.40. The firm has a 50-day moving average price of $38.42 and a 200-day moving average price of $39.28. The company has a market capitalization of $17.27 billion, a PE ratio of 32.1865 and a beta of 1.27. Mylan N.V. also saw unusually large options trading activity on Friday. Stock investors purchased 10,527 put options on the company. This represents an increase of approximately 258% compared to the average daily volume of 2,942 put options.
Mylan N.V. (NASDAQ:MYL) last issued its quarterly earnings results on Wednesday, May 10th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. Mylan N.V. had a net margin of 4.59% and a return on equity of 23.69%. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The firm’s quarterly revenue was up 24.1% on a year-over-year basis. Equities research analysts anticipate that Mylan N.V. will post $5.16 earnings per share for the current fiscal year.
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In other Mylan N.V. news, insider Anthony Mauro sold 10,000 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $40.00, for a total value of $400,000.00. Following the transaction, the insider now directly owns 140,653 shares in the company, valued at approximately $5,626,120. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Rajiv Malik sold 25,000 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $40.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the president now owns 799,855 shares in the company, valued at $31,994,200. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Personal Financial Services raised its position in Mylan N.V. by 33.2% in the first quarter. First Personal Financial Services now owns 2,733 shares of the company’s stock worth $107,000 after buying an additional 681 shares during the period. Global X Management Co. LLC raised its position in Mylan N.V. by 91.6% in the first quarter. Global X Management Co. LLC now owns 3,015 shares of the company’s stock worth $118,000 after buying an additional 1,441 shares during the period. Ropes Wealth Advisors LLC purchased a new position in Mylan N.V. during the first quarter worth about $136,000. Oakworth Capital Inc. raised its position in Mylan N.V. by 30.7% in the first quarter. Oakworth Capital Inc. now owns 4,255 shares of the company’s stock worth $166,000 after buying an additional 1,000 shares during the period. Finally, State of Alaska Department of Revenue purchased a new position in Mylan N.V. during the first quarter worth about $188,000. Institutional investors own 70.19% of the company’s stock.
About Mylan N.V.
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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