Mylan Inc. (NASDAQ:MYL)‘s stock had its “buy” rating reiterated by analysts at BTIG Research in a research report issued to clients and investors on Monday. They presently have a $55.00 price objective on the stock. BTIG Research’s target price indicates a potential upside of 43.57% from the company’s previous close.
Several other brokerages have also recently weighed in on MYL. 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 objective on shares of Mylan in a research report on Wednesday, August 24th. Raymond James Financial Inc. upgraded shares of Mylan from a “market perform” rating to a “strong-buy” rating and set a $57.00 price objective on the stock in a research report on Monday. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Mylan in a research report on Saturday, June 25th. Finally, Goldman Sachs Group Inc. reiterated a “conviction-buy” rating and set a $60.00 price objective on shares of Mylan in a research report on Thursday, August 25th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $53.49.
Mylan (NASDAQ:MYL) opened at 38.31 on Monday. Mylan has a 1-year low of $35.58 and a 1-year high of $55.51. The stock has a market capitalization of $20.49 billion, a PE ratio of 24.25 and a beta of 1.14. The firm has a 50-day moving average of $40.72 and a 200-day moving average of $44.07.
Mylan (NASDAQ:MYL) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.03. Mylan had a net margin of 8.11% and a return on equity of 23.22%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. Equities analysts expect that Mylan will post $4.95 EPS for the current fiscal year.
In other Mylan news, CEO Heather M. Bresch sold 100,200 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was 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 owns 828,318 shares in the company, valued at approximately $41,415,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.71% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund raised its position in Mylan by 73.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 109,426 shares of the company’s stock valued at $4,171,000 after buying an additional 46,455 shares in the last quarter. Exxonmobil Investment Management Inc. TX raised its position in Mylan by 6.3% in the third quarter. Exxonmobil Investment Management Inc. TX now owns 117,460 shares of the company’s stock valued at $4,478,000 after buying an additional 6,923 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in Mylan by 5.2% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 386,275 shares of the company’s stock valued at $14,724,000 after buying an additional 19,080 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Mylan by 386.8% in the third quarter. BNP Paribas Arbitrage SA now owns 968,435 shares of the company’s stock valued at $36,917,000 after buying an additional 769,500 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in Mylan during the second quarter valued at approximately $746,000. Institutional investors own 60.20% of the company’s stock.
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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