Mylan Inc. (MYL) Given New $47.00 Price Target at Mizuho
Several other research analysts have also recently weighed in on the company. RBC Capital Markets restated a sector perform rating and set a $44.00 target price (down from $48.00) on shares of Mylan in a report on Thursday, November 10th. Barclays PLC reaffirmed a hold rating and set a $44.00 price target on shares of Mylan in a research report on Thursday, November 10th. JPMorgan Chase & Co. set a $52.00 price target on shares of Mylan and gave the company a buy rating in a research report on Monday, October 10th. BTIG Research reaffirmed a buy rating and set a $55.00 price target on shares of Mylan in a research report on Monday, October 10th. Finally, Raymond James Financial Inc. raised shares of Mylan from a market perform rating to a strong-buy rating and set a $57.00 price target on the stock in a research report on Monday, October 10th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Mylan currently has an average rating of Buy and an average price target of $52.83.
Shares of Mylan (NASDAQ:MYL) traded up 0.69% on Friday, reaching $36.72. The company had a trading volume of 757,041 shares. The company’s 50 day moving average price is $37.45 and its 200-day moving average price is $42.38. Mylan has a 1-year low of $33.60 and a 1-year high of $55.51. The stock has a market capitalization of $19.65 billion, a P/E ratio of 73.59 and a beta of 1.10.
Mylan (NASDAQ:MYL) last issued its earnings results on Wednesday, November 9th. The company reported $1.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by $0.07. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.12 billion. Mylan had a return on equity of 22.04% and a net margin of 2.50%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.43 earnings per share. Equities analysts predict that Mylan will post $4.76 EPS for the current year.
A number of hedge funds have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Mylan during the second quarter worth about $261,308,000. Bank of New York Mellon Corp raised its stake in shares of Mylan by 56.4% in the second quarter. Bank of New York Mellon Corp now owns 8,066,095 shares of the company’s stock worth $348,779,000 after buying an additional 2,908,633 shares during the period. Vanguard Group Inc. raised its stake in shares of Mylan by 5.7% in the second quarter. Vanguard Group Inc. now owns 26,441,320 shares of the company’s stock worth $1,143,323,000 after buying an additional 1,431,929 shares during the period. BlackRock Fund Advisors raised its stake in shares of Mylan by 11.0% in the second quarter. BlackRock Fund Advisors now owns 12,112,864 shares of the company’s stock worth $523,760,000 after buying an additional 1,204,050 shares during the period. Finally, Emerald Acquisition Ltd. purchased a new stake in shares of Mylan during the second quarter worth about $51,374,000. Hedge funds and other institutional investors own 60.17% 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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