Mylan Inc. (MYL) Receives “Buy” Rating from BTIG Research
Mylan Inc. (NASDAQ:MYL)‘s stock had its “buy” rating reaffirmed by analysts at BTIG Research in a research report issued to clients and investors on Monday. They currently have a $55.00 target price on the stock. BTIG Research’s price target points to a potential upside of 53.03% from the stock’s previous close.
Several other analysts have also issued reports on MYL. Leerink Swann set a $45.00 target price on shares of 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 shares of Mylan and gave the company a “hold” rating in a research report on Saturday, October 1st. RBC Capital Markets restated a “sector perform” rating and set a $48.00 target price on shares of Mylan in a research report on Monday. Zacks Investment Research upgraded shares of 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. Finally, Argus set a $55.00 target price on shares of Mylan and gave the company a “buy” rating in a research report on Thursday, September 22nd. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $53.49.
Mylan (NASDAQ:MYL) traded up 8.85% on Monday, hitting $39.12. 15,193,259 shares of the stock were exchanged. The company has a 50-day moving average of $41.27 and a 200-day moving average of $44.19. The stock has a market cap of $20.93 billion, a price-to-earnings ratio of 24.76 and a beta of 1.14. 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 consensus estimate of $1.13 by $0.03. The company earned $2.56 billion during the quarter, compared to analyst estimates of $2.58 billion. Mylan had a net margin of 8.11% and a return on equity of 23.22%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.91 earnings per share. On average, equities analysts predict that Mylan will post $4.95 EPS for the current year.
In other news, CEO Heather M. Bresch sold 100,200 shares of the stock in a transaction on Tuesday, August 9th. The shares were 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 of the company’s stock, valued at $41,415,900. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.71% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. boosted its position in Mylan by 2.0% in the first quarter. Prudential Financial Inc. now owns 504,859 shares of the company’s stock worth $23,400,000 after buying an additional 10,030 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new position in Mylan during the first quarter worth approximately $2,656,000. Canada Pension Plan Investment Board boosted its position 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 last quarter. BB&T Securities LLC boosted its position 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 last quarter. Finally, Rafferty Asset Management LLC boosted its position 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 last quarter. 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.
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