A number of other research analysts have also recently issued reports on the stock. TheStreet raised shares of Mylan from a hold rating to a buy rating in a report on Friday, August 12th. Bank of America Corp. reaffirmed a buy rating and issued a $70.00 price target on shares of Mylan in a report on Wednesday, August 24th. JPMorgan Chase & Co. reaffirmed an overweight rating on shares of Mylan in a report on Saturday, June 25th. Goldman Sachs Group Inc. reaffirmed a conviction-buy rating and issued a $60.00 price target on shares of Mylan in a report on Thursday, August 25th. Finally, Leerink Swann raised their price target on shares of Mylan from $51.00 to $55.00 and gave the stock an outperform rating in a report on Monday, August 15th. Ten investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $54.76.
Shares of Mylan (NASDAQ:MYL) opened at 41.31 on Thursday. The company’s 50 day moving average is $43.78 and its 200 day moving average is $44.62. The company has a market cap of $22.10 billion, a P/E ratio of 26.15 and a beta of 1.25. Mylan has a 12 month low of $37.59 and a 12 month high of $55.51.
Mylan (NASDAQ:MYL) last posted its earnings results on Tuesday, August 9th. The company reported $1.16 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.03. The company earned $2.56 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Mylan had a net margin of 8.11% and a return on equity of 23.22%. Mylan’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 earnings per share. On average, equities research analysts predict that Mylan will post $4.96 EPS for the current fiscal year.
In other news, CEO Heather M. Bresch sold 100,200 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 828,318 shares of the company’s stock, valued at $41,415,900. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.71% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Mylan during the second quarter valued at $746,000. Kentucky Retirement Systems acquired a new position in Mylan during the second quarter valued at $1,570,000. Mason Street Advisors LLC acquired a new position in Mylan during the second quarter valued at $2,487,000. Northwestern Mutual Wealth Management Co. increased its position in Mylan by 48.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,235 shares of the company’s stock valued at $184,000 after buying an additional 1,388 shares in the last quarter. Finally, CI Global Investments Inc. acquired a new position in Mylan during the second quarter valued at $4,756,000. 60.20% of the stock is currently owned by hedge funds and other institutional investors.
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.
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