Goldman Sachs Group Boosts Mylan (MYL) Price Target to $52.00
Mylan (NASDAQ:MYL) had its target price upped by analysts at Goldman Sachs Group from $46.00 to $52.00 in a research note issued on Thursday, The Fly reports. The firm presently has a “buy” rating on the stock. Goldman Sachs Group’s price target would indicate a potential upside of 14.15% from the company’s previous close.
A number of other equities research analysts have also weighed in on the company. Cowen reissued a “market perform” rating and issued a $36.00 target price (up previously from $30.00) on shares of Mylan in a research note on Thursday, October 5th. Mizuho reissued a “buy” rating and issued a $37.00 target price on shares of Mylan in a research note on Tuesday, October 24th. Zacks Investment Research lowered Mylan from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. UBS Group set a $46.00 target price on Mylan and gave the company a “buy” rating in a research note on Monday, December 4th. Finally, Cantor Fitzgerald set a $41.00 target price on Mylan and gave the company a “hold” rating in a research note on Tuesday, December 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $43.64.
Shares of Mylan (NASDAQ:MYL) opened at $45.55 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.95 and a current ratio of 1.46. Mylan has a 52 week low of $29.39 and a 52 week high of $45.87. The stock has a market capitalization of $23,810.00, a PE ratio of 27.44, a price-to-earnings-growth ratio of 1.41 and a beta of 1.38.
Mylan (NASDAQ:MYL) last issued its quarterly earnings results on Monday, November 6th. The company reported $1.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.10). Mylan had a return on equity of 20.63% and a net margin of 7.28%. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period last year, the firm earned $1.38 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. sell-side analysts forecast that Mylan will post 4.56 EPS for the current year.
In related news, CEO Heather M. Bresch sold 75,000 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $45.00, for a total transaction of $3,375,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.69% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the stock. Greenlight Capital Inc. increased its holdings in Mylan by 0.4% during the 3rd quarter. Greenlight Capital Inc. now owns 10,744,307 shares of the company’s stock valued at $337,048,000 after purchasing an additional 42,600 shares during the period. Wealthsource Partners LLC grew its holdings in shares of Mylan by 57.6% during the 3rd quarter. Wealthsource Partners LLC now owns 14,705 shares of the company’s stock worth $461,000 after acquiring an additional 5,375 shares during the period. Americafirst Capital Management LLC purchased a new position in shares of Mylan during the 3rd quarter worth approximately $471,000. Cypress Capital Group grew its holdings in shares of Mylan by 37.7% during the 3rd quarter. Cypress Capital Group now owns 13,079 shares of the company’s stock worth $410,000 after acquiring an additional 3,579 shares during the period. Finally, California Public Employees Retirement System grew its holdings in shares of Mylan by 4.2% during the 3rd quarter. California Public Employees Retirement System now owns 1,129,978 shares of the company’s stock worth $35,447,000 after acquiring an additional 45,822 shares during the period. Institutional investors own 74.90% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This piece of content was posted by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of international copyright legislation. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/01/11/goldman-sachs-group-boosts-mylan-myl-price-target-to-52-00.html.
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.
Receive News & Ratings for Mylan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mylan and related companies with MarketBeat.com's FREE daily email newsletter.