Mylan Inc. (MYL) Rating Reiterated by BTIG Research

Mylan Inc. (NASDAQ:MYL)‘s stock had its “buy” rating reissued by equities researchers at BTIG Research in a report issued on Tuesday. They presently have a $55.00 price objective on the stock. BTIG Research’s price target indicates a potential upside of 50.23% from the company’s previous close.

A number of other research analysts also recently issued reports on MYL. TheStreet upgraded Mylan from a “hold” rating to a “buy” rating in a research note 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 note on Wednesday, August 24th. Raymond James Financial Inc. upgraded Mylan from a “market perform” rating to a “strong-buy” rating and set a $57.00 price objective for the company in a research note on Monday, October 10th. Goldman Sachs Group Inc. reiterated a “conviction-buy” rating and set a $60.00 price objective on shares of Mylan in a research note on Thursday, August 25th. Finally, Royal Bank Of Canada cut their price objective on Mylan from $52.00 to $48.00 and set a “sector perform” rating for the company in a research note on Tuesday, September 6th. Eleven analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $52.83.

Analyst Recommendations for Mylan (NASDAQ:MYL)

Mylan (NASDAQ:MYL) opened at 36.61 on Tuesday. The stock has a market capitalization of $19.59 billion, a P/E ratio of 73.37 and a beta of 1.10. Mylan has a 1-year low of $33.60 and a 1-year high of $55.51. The firm’s 50 day moving average is $37.27 and its 200 day moving average is $42.19.

Mylan (NASDAQ:MYL) last released its quarterly earnings results on Wednesday, November 9th. The company reported $1.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by $0.07. Mylan had a net margin of 2.50% and a return on equity of 22.04%. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the previous year, the company earned $1.43 EPS. Mylan’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, equities research analysts anticipate that Mylan will post $4.76 earnings per share for the current year.

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A number of hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new position in Mylan during the second quarter worth about $34,668,000. Strs Ohio increased its position in Mylan by 4.5% in the second quarter. Strs Ohio now owns 268,295 shares of the company’s stock worth $11,601,000 after buying an additional 11,633 shares during the last quarter. Retirement Systems of Alabama increased its position in Mylan by 1.7% in the second quarter. Retirement Systems of Alabama now owns 542,005 shares of the company’s stock worth $23,436,000 after buying an additional 9,305 shares during the last quarter. Integrated Investment Consultants LLC purchased a new position in Mylan during the second quarter worth about $145,000. Finally, Affinity Investment Advisors LLC increased its position in Mylan by 8.1% in the second quarter. Affinity Investment Advisors LLC now owns 325,550 shares of the company’s stock worth $14,077,000 after buying an additional 24,268 shares during the last quarter. Institutional investors and hedge funds own 60.29% of the company’s stock.

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.

5 Day Chart for NASDAQ:MYL

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