Mylan Inc. (NASDAQ:MYL) Receives $54.53 Average Target Price from Brokerages
Mylan Inc. (NASDAQ:MYL) has been assigned a consensus rating of “Buy” from the twenty brokerages that are currently covering the company. Ten investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $54.53.
A number of equities research analysts have weighed in on MYL shares. Zacks Investment Research raised Mylan from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Tuesday, July 5th. TheStreet raised Mylan from a “hold” rating to a “buy” rating in a research report on Friday, August 12th. BTIG Research reaffirmed a “buy” rating and set a $60.00 target price on shares of Mylan in a research report on Tuesday, August 30th. RBC Capital Markets decreased their target price on Mylan from $52.00 to $48.00 and set a “sector perform” rating for the company in a research report on Tuesday, September 6th. Finally, Bank of America Corp. reaffirmed a “buy” rating and set a $70.00 target price on shares of Mylan in a research report on Wednesday, August 24th.
Shares of Mylan (NASDAQ:MYL) opened at 40.22 on Monday. Mylan has a 1-year low of $37.59 and a 1-year high of $55.51. The stock’s 50 day moving average price is $43.50 and its 200-day moving average price is $44.58. The company has a market capitalization of $21.51 billion, a PE ratio of 25.46 and a beta of 1.25.
Mylan (NASDAQ:MYL) last issued its earnings results on Tuesday, August 9th. The company reported $1.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.03. The business earned $2.56 billion during the quarter, compared to analyst estimates of $2.58 billion. Mylan had a return on equity of 23.22% and a net margin of 8.11%. Mylan’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 EPS. On average, equities analysts predict that Mylan will post $4.96 EPS for the current year.
In other news, CEO Heather M. Bresch sold 100,200 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 828,318 shares of the company’s stock, valued at approximately $41,415,900. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.71% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of MYL. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Mylan during the second quarter valued at about $261,308,000. Bank of New York Mellon Corp boosted its position in shares of Mylan by 56.4% in the second quarter. Bank of New York Mellon Corp now owns 8,066,095 shares of the company’s stock valued at $348,779,000 after buying an additional 2,908,633 shares during the period. Vanguard Group Inc. boosted its position in shares of Mylan by 5.7% in the second quarter. Vanguard Group Inc. now owns 26,441,320 shares of the company’s stock valued at $1,143,323,000 after buying an additional 1,431,929 shares during the period. BlackRock Fund Advisors boosted its position in shares of Mylan by 11.0% in the second quarter. BlackRock Fund Advisors now owns 12,112,864 shares of the company’s stock valued at $523,760,000 after buying an additional 1,204,050 shares during the period. Finally, Emerald Acquisition Ltd. bought a new position in shares of Mylan during the second quarter valued at about $51,374,000. 60.20% of the stock is owned by institutional investors and hedge funds.
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 & Stock Ratings for Mylan Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mylan Inc. and related stocks with our FREE daily email newsletter.