A number of other equities research analysts have also recently weighed in on the stock. TheStreet upgraded shares of Mylan from a hold rating to a buy rating in a research report on Friday, August 12th. Bank of America Corp. reiterated a buy rating and set a $70.00 price target on shares of Mylan in a research report on Wednesday, August 24th. JPMorgan Chase & Co. reiterated an overweight rating on shares of Mylan in a research report on Saturday, June 25th. Goldman Sachs Group Inc. restated a conviction-buy rating and issued a $60.00 price objective on shares of Mylan in a report on Thursday, August 25th. Finally, Leerink Swann lifted their price objective on shares of Mylan from $51.00 to $55.00 and gave the company an outperform rating in a report on Monday, August 15th. Ten research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $54.76.
Shares of Mylan (NASDAQ:MYL) opened at 41.31 on Friday. The firm has a 50-day moving average of $43.78 and a 200 day moving average of $44.62. Mylan has a 52 week low of $37.59 and a 52 week high of $55.51. The stock has a market cap of $22.10 billion, a PE ratio of 26.15 and a beta of 1.25.
Mylan (NASDAQ:MYL) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.03. Mylan had a net margin of 8.11% and a return on equity of 23.22%. The business earned $2.56 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the business earned $0.91 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities analysts forecast that Mylan will post $4.96 EPS for the current fiscal year.
In related news, CEO Heather M. Bresch sold 100,200 shares of the company’s stock in a transaction 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 in the company, valued at approximately $41,415,900. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.71% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. River Wealth Advisors LLC boosted its position in shares of Mylan by 4.3% in the first quarter. River Wealth Advisors LLC now owns 68,755 shares of the company’s stock valued at $3,187,000 after buying an additional 2,811 shares in the last quarter. Mn Services Vermogensbeheer B.V. purchased a new position in shares of Mylan during the first quarter valued at about $426,000. Virginia Retirement System purchased a new position in shares of Mylan during the first quarter valued at about $7,165,000. Compton Capital Management Inc. RI boosted its position in shares of Mylan by 13.4% in the first quarter. Compton Capital Management Inc. RI now owns 10,665 shares of the company’s stock valued at $494,000 after buying an additional 1,260 shares in the last quarter. Finally, Pacad Investment Ltd. boosted its position in shares of Mylan by 23.5% in the first quarter. Pacad Investment Ltd. now owns 15,678 shares of the company’s stock valued at $727,000 after buying an additional 2,988 shares in the last quarter. 60.20% of the stock is currently owned by institutional investors.
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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