Mylan Inc. (MYL) Given Sector Perform Rating at RBC Capital Markets
RBC Capital Markets reissued their sector perform rating on shares of Mylan Inc. (NASDAQ:MYL) in a research report released on Monday morning. The firm currently has a $48.00 target price on the stock.
Several other brokerages also recently commented on MYL. Leerink Swann set a $45.00 price objective on Mylan and gave the company a buy rating in a research report on Saturday, October 1st. Wells Fargo & Co. set a $44.00 price objective 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 price objective on the stock in a research report on Tuesday, July 5th. Argus set a $55.00 price objective on Mylan and gave the company a buy rating in a research report on Thursday, September 22nd. Finally, TheStreet downgraded Mylan from a buy rating to a hold rating in a research report on Wednesday, September 28th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Mylan currently has a consensus rating of Buy and a consensus target price of $53.49.
Shares of Mylan (NASDAQ:MYL) traded down 0.85% during trading on Monday, hitting $38.54. The stock had a trading volume of 2,807,082 shares. The stock has a 50 day moving average of $40.99 and a 200 day moving average of $44.11. The company has a market cap of $20.62 billion, a PE ratio of 24.39 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 released its earnings results on Tuesday, August 9th. The company reported $1.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.03. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.58 billion. Mylan had a return on equity of 23.22% and a net margin of 8.11%. Mylan’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. Equities analysts forecast that Mylan will post $4.95 EPS 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 on Tuesday, August 9th. The stock was sold at an average price of $50.00, for a total transaction of $5,010,000.00. Following the completion of the sale, the chief executive officer now owns 828,318 shares in the company, valued at $41,415,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.71% of the company’s stock.
Several institutional investors have recently modified their holdings of MYL. Advisory Services Network LLC increased 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 during the last quarter. Checchi Capital Advisers LLC increased 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 worth $114,000 after buying an additional 164 shares during the last quarter. Integrated Investment Consultants LLC acquired a new position in shares of Mylan during the second quarter worth about $145,000. Tower Research Capital LLC TRC increased 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 worth $181,000 after buying an additional 2,095 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased 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 worth $184,000 after buying an additional 1,388 shares during the last quarter. 60.20% of the stock is currently owned by institutional investors and hedge funds.
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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