Mylan Inc. (MYL) Given a $52.00 Price Target at JPMorgan Chase & Co.
Mylan Inc. (NASDAQ:MYL) has been assigned a $52.00 price objective by equities research analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Monday. The brokerage presently has a a “buy” rating on the stock. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 33.78% from the company’s current price.
Several other equities research analysts have also commented on MYL. Zacks Investment Research raised shares of Mylan from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Tuesday, July 5th. Morgan Stanley reissued a “hold” rating on shares of Mylan in a research note on Tuesday, July 12th. Leerink Swann boosted their price objective on shares of Mylan from $51.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, August 15th. TheStreet raised shares of Mylan from a “hold” rating to a “buy” rating in a research note on Friday, August 12th. Finally, Bank of America Corp. reissued a “buy” rating and set a $70.00 price objective on shares of Mylan in a research note on Wednesday, August 24th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Mylan currently has a consensus rating of “Buy” and a consensus target price of $53.49.
Mylan (NASDAQ:MYL) traded down 1.78% on Monday, reaching $38.18. 5,872,764 shares of the company were exchanged. Mylan has a 12-month low of $35.58 and a 12-month high of $55.51. The firm has a market capitalization of $20.42 billion, a P/E ratio of 24.16 and a beta of 1.14. The firm has a 50-day moving average of $40.99 and a 200 day moving average of $44.11.
Mylan (NASDAQ:MYL) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.13 by $0.03. Mylan had a net margin of 8.11% and a return on equity of 23.22%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the firm posted $0.91 earnings per share. Mylan’s quarterly revenue was up 8.0% on a year-over-year basis. On average, equities analysts predict that Mylan will post $4.95 earnings per share 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 completion of the sale, the chief executive officer now directly owns 828,318 shares of the company’s stock, valued at $41,415,900. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.71% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. Advisory Services Network LLC raised its position in shares of Mylan by 43.6% in the second quarter. Advisory Services Network LLC now owns 2,537 shares of the company’s stock worth $110,000 after buying an additional 770 shares in the last quarter. Checchi Capital Advisers LLC raised its position in 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 acquired a new position in Mylan during the second quarter valued at approximately $145,000. Tower Research Capital LLC TRC raised its position in 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. raised its position in 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.
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