Mylan Inc. (MYL) PT Set at $52.00 by JPMorgan Chase & Co.
Mylan Inc. (NASDAQ:MYL) has been assigned a $52.00 price objective by equities researchers at JPMorgan Chase & Co. in a research report issued on Tuesday. The brokerage presently has a a “buy” rating on the stock. JPMorgan Chase & Co.’s price target indicates a potential upside of 36.95% from the stock’s current price.
A number of other research firms have also issued reports on MYL. Leerink Swann increased their target price on Mylan from $51.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, August 15th. TheStreet upgraded Mylan from a “hold” rating to a “buy” rating in a research note on Friday, August 12th. Zacks Investment Research lowered Mylan from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Bank of America Corp. reiterated a “buy” rating and issued a $70.00 target price on shares of Mylan in a research note on Wednesday, August 24th. Finally, Morgan Stanley reiterated a “hold” rating on shares of Mylan in a research note on Tuesday, July 12th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $53.58.
Mylan (NASDAQ:MYL) traded down 0.03% on Tuesday, reaching $37.96. The company’s stock had a trading volume of 3,717,653 shares. The company has a market capitalization of $20.31 billion, a price-to-earnings ratio of 24.03 and a beta of 1.14. The firm’s 50 day moving average price is $42.30 and its 200-day moving average price is $44.35. Mylan has a 52 week low of $37.41 and a 52 week high of $55.51.
Mylan (NASDAQ:MYL) last posted its earnings results on Tuesday, August 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.03. Mylan had a return on equity of 23.22% and a net margin of 8.11%. The business earned $2.56 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the firm earned $0.91 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities analysts predict that Mylan will post $4.96 EPS for the current year.
In related news, CEO Heather M. Bresch sold 100,200 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly 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 this hyperlink. 0.71% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC boosted its stake in Mylan by 43.6% in the second quarter. Advisory Services Network LLC now owns 2,537 shares of the company’s stock valued at $110,000 after buying an additional 770 shares in the last quarter. Checchi Capital Advisers LLC boosted its position in shares of Mylan by 6.6% in the second quarter. Checchi Capital Advisers LLC now owns 2,637 shares of the company’s stock valued at $114,000 after buying an additional 164 shares during the period. Integrated Investment Consultants LLC purchased a new position in shares of Mylan during the second quarter valued at about $145,000. Tower Research Capital LLC TRC boosted its position in shares of Mylan by 100.4% in the second quarter. Tower Research Capital LLC TRC now owns 4,182 shares of the company’s stock valued at $181,000 after buying an additional 2,095 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Mylan by 48.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,235 shares of the company’s stock valued at $184,000 after buying an additional 1,388 shares during the period. Hedge funds and other 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.
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.