Mylan Inc. (MYL) Rating Lowered to Hold at TheStreet
Mylan Inc. (NASDAQ:MYL) was downgraded by equities researchers at TheStreet from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
Several other analysts also recently issued reports on the company. Zacks Investment Research upgraded Mylan from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Tuesday, July 5th. BTIG Research restated a “buy” rating and issued a $60.00 price target on shares of Mylan in a research note on Tuesday, August 30th. RBC Capital Markets reduced their price target 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. Bank of America Corp. restated a “buy” rating and issued a $70.00 price target on shares of Mylan in a research note on Wednesday, August 24th. Finally, Leerink Swann boosted their price target on Mylan from $51.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, August 15th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $54.76.
Shares of Mylan (NASDAQ:MYL) opened at 38.47 on Wednesday. Mylan has a 52-week low of $37.59 and a 52-week high of $55.51. The stock has a 50 day moving average price of $43.20 and a 200 day moving average price of $44.54. The company has a market capitalization of $20.58 billion, a PE ratio of 24.35 and a beta of 1.25.
Mylan (NASDAQ:MYL) last issued its earnings results on Tuesday, August 9th. The company reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.03. Mylan had a return on equity of 23.22% and a net margin of 8.11%. The company earned $2.56 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the company posted $0.91 EPS. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, analysts predict that Mylan will post $4.96 earnings per share for the current fiscal year.
In other Mylan news, CEO Heather M. Bresch sold 100,200 shares of the company’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 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 filing with the Securities & Exchange Commission, which is available at this link. 0.71% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in MYL. Meeder Asset Management Inc. raised its stake in Mylan by 5,271.0% in the first quarter. Meeder Asset Management Inc. now owns 10,742 shares of the company’s stock worth $498,000 after buying an additional 10,542 shares during the period. Rafferty Asset Management LLC raised its stake in Mylan by 147.5% in the first quarter. Rafferty Asset Management LLC now owns 78,716 shares of the company’s stock worth $3,648,000 after buying an additional 46,911 shares during the period. BB&T Securities LLC raised its stake in Mylan by 480.2% in the first quarter. BB&T Securities LLC now owns 84,693 shares of the company’s stock worth $3,925,000 after buying an additional 70,095 shares during the period. Canada Pension Plan Investment Board raised its stake in Mylan by 85.3% in the first quarter. Canada Pension Plan Investment Board now owns 10,425 shares of the company’s stock worth $483,000 after buying an additional 4,800 shares during the period. Finally, C M Bidwell & Associates Ltd. bought a new stake in Mylan during the first quarter worth approximately $2,656,000. Hedge funds and other institutional investors own 60.20% 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.
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