Mylan Inc. (NASDAQ:MYL) was upgraded by investment analysts at Raymond James Financial Inc. from a “market perform” rating to a “strong-buy” rating in a report issued on Monday. The firm presently has a $57.00 price target on the stock. Raymond James Financial Inc.’s target price would suggest a potential upside of 58.60% from the company’s current price.

Several other research analysts have also issued reports on MYL. Leerink Swann set a $45.00 target price on Mylan and gave the company a “buy” rating in a research report on Saturday, October 1st. Wells Fargo & Co. set a $44.00 target price on Mylan and gave the company a “hold” rating in a research report on Saturday, October 1st. Zacks Investment Research upgraded 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. Argus set a $55.00 target price on Mylan and gave the company a “buy” rating in a research report on Thursday, September 22nd. Finally, TheStreet lowered Mylan from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $53.77.

Analyst Recommendations for Mylan (NASDAQ:MYL)

Mylan (NASDAQ:MYL) opened at 35.94 on Monday. The company has a market cap of $19.22 billion, a price-to-earnings ratio of 22.75 and a beta of 1.14. The stock has a 50 day moving average price of $41.27 and a 200 day moving average price of $44.19. Mylan has a 12 month low of $35.58 and a 12 month high of $55.51.

Mylan (NASDAQ:MYL) last announced its earnings results on Tuesday, August 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating 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 business earned $2.56 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the business earned $0.91 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. Analysts anticipate that Mylan will post $4.95 earnings per share for the current fiscal year.

In related news, CEO Heather M. Bresch sold 100,200 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $50.00, for a total transaction of $5,010,000.00. Following the completion of the transaction, the chief executive officer now 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 the SEC website. Corporate insiders own 0.71% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Park National Corp OH increased its stake in Mylan by 0.5% in the second quarter. Park National Corp OH now owns 5,875 shares of the company’s stock worth $254,000 after buying an additional 27 shares during the last quarter. E&G Advisors LP increased its stake in Mylan by 0.4% in the second quarter. E&G Advisors LP now owns 11,144 shares of the company’s stock worth $482,000 after buying an additional 44 shares during the last quarter. M Holdings Securities Inc. increased its stake in Mylan by 0.9% in the second quarter. M Holdings Securities Inc. now owns 6,254 shares of the company’s stock worth $270,000 after buying an additional 55 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in Mylan by 1.1% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 10,595 shares of the company’s stock worth $412,000 after buying an additional 118 shares during the last quarter. Finally, Conning Inc. increased its stake in Mylan by 1.3% in the second quarter. Conning Inc. now owns 9,671 shares of the company’s stock worth $418,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 60.20% of the company’s stock.

About Mylan

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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