Mylan N.V. (MYL) Receives “Buy” Rating from Instinet
Mylan N.V. (NASDAQ:MYL)‘s stock had its “buy” rating restated by Instinet in a note issued to investors on Thursday. They currently have a $37.00 price objective on the stock. Instinet’s price objective would indicate a potential downside of 2.12% from the stock’s previous close.
A number of other research firms have also commented on MYL. Wells Fargo & Company restated a “market perform” rating and issued a $32.00 price objective (up from $30.00) on shares of Mylan N.V. in a research report on Wednesday. Cantor Fitzgerald set a $34.00 price objective on shares of Mylan N.V. and gave the company a “hold” rating in a research report on Wednesday, August 9th. ValuEngine lowered shares of Mylan N.V. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. BMO Capital Markets restated a “buy” rating and issued a $45.00 price objective on shares of Mylan N.V. in a research report on Friday, September 29th. Finally, BidaskClub upgraded shares of Mylan N.V. from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Mylan N.V. currently has a consensus rating of “Buy” and a consensus target price of $42.04.
Mylan N.V. (NASDAQ:MYL) traded down 2.04% during mid-day trading on Thursday, reaching $37.03. 4,067,187 shares of the company’s stock were exchanged. Mylan N.V. has a 52-week low of $29.39 and a 52-week high of $45.87. The company has a 50-day moving average of $31.65 and a 200-day moving average of $36.47. The stock has a market cap of $19.86 billion, a price-to-earnings ratio of 29.94 and a beta of 1.30. Mylan N.V. also saw some unusual options trading activity on Wednesday. Stock traders bought 10,562 put options on the company. This represents an increase of 461% compared to the typical volume of 1,883 put options.
Mylan N.V. (NASDAQ:MYL) last released its quarterly earnings data on Wednesday, August 9th. The company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.08). Mylan N.V. had a net margin of 5.51% and a return on equity of 22.42%. The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3 billion. During the same quarter last year, the business posted $1.16 earnings per share. Mylan N.V.’s revenue was up 15.7% compared to the same quarter last year. Equities research analysts anticipate that Mylan N.V. will post $4.52 earnings per share for the current year.
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Several hedge funds have recently bought and sold shares of MYL. Global X Management Co. LLC raised its stake in shares of Mylan N.V. by 91.6% during the first quarter. Global X Management Co. LLC now owns 3,015 shares of the company’s stock worth $118,000 after acquiring an additional 1,441 shares in the last quarter. TLP Group LLC purchased a new position in shares of Mylan N.V. during the first quarter worth approximately $200,000. Doliver Capital Advisors LP purchased a new position in shares of Mylan N.V. during the second quarter worth approximately $201,000. Eagle Global Advisors LLC purchased a new position in shares of Mylan N.V. during the second quarter worth approximately $205,000. Finally, Sheaff Brock Investment Advisors LLC purchased a new position in shares of Mylan N.V. during the second quarter worth approximately $210,000. 71.97% of the stock is currently owned by hedge funds and other institutional investors.
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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