Cowen and Company Reaffirms “Hold” Rating for Mylan N.V. (MYL)
Mylan N.V. (NASDAQ:MYL)‘s stock had its “hold” rating reaffirmed by analysts at Cowen and Company in a report issued on Wednesday. They presently have a $30.00 target price on the stock, down from their prior target price of $43.00. Cowen and Company’s price target would suggest a potential downside of 6.48% from the stock’s previous close.
Other equities research analysts have also issued research reports about the company. Barclays PLC upgraded Mylan N.V. from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $47.00 to $50.00 in a research report on Monday, May 22nd. Royal Bank Of Canada restated a “sector perform” rating and set a $46.00 target price (down previously from $48.00) on shares of Mylan N.V. in a research report on Monday, April 17th. BMO Capital Markets assumed coverage on Mylan N.V. in a research report on Monday, May 1st. They set an “outperform” rating and a $50.00 target price on the stock. Wells Fargo & Company restated a “market perform” rating and set a $40.00 target price on shares of Mylan N.V. in a research report on Friday, April 14th. Finally, Cantor Fitzgerald assumed coverage on Mylan N.V. in a research report on Friday, June 16th. They set a “neutral” rating and a $41.00 target price on the stock. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $48.73.
Shares of Mylan N.V. (NASDAQ:MYL) traded up 0.87% during mid-day trading on Wednesday, hitting $32.36. The stock had a trading volume of 8,208,904 shares. The stock has a 50 day moving average price of $37.74 and a 200 day moving average price of $39.09. Mylan N.V. has a 52 week low of $29.58 and a 52 week high of $49.42. The firm has a market cap of $17.34 billion, a PE ratio of 32.33 and a beta of 1.27. Mylan N.V. also was the recipient of some unusual options trading on Monday. Stock traders bought 9,410 call options on the company. This represents an increase of approximately 250% compared to the typical daily volume of 2,688 call options.
Mylan N.V. (NASDAQ:MYL) last released its quarterly earnings results on Wednesday, August 9th. The company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by $0.08. Mylan N.V. had a net margin of 4.59% and a return on equity of 23.69%. The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3 billion. During the same quarter last year, the firm posted $1.16 EPS. The company’s quarterly revenue was up 15.7% on a year-over-year basis. Equities research analysts expect that Mylan N.V. will post $4.86 EPS for the current fiscal year.
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In other news, insider Anthony Mauro sold 10,000 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $40.00, for a total value of $400,000.00. Following the completion of the sale, the insider now directly owns 140,653 shares of the company’s stock, valued at $5,626,120. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Rajiv Malik sold 25,000 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $40.00, for a total value of $1,000,000.00. Following the completion of the sale, the president now directly owns 799,855 shares of the company’s stock, valued at $31,994,200. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company’s stock.
Several hedge funds have recently modified their holdings of MYL. Raymond James Trust N.A. increased its stake in shares of Mylan N.V. by 33.8% in the first quarter. Raymond James Trust N.A. now owns 10,215 shares of the company’s stock valued at $398,000 after buying an additional 2,583 shares during the period. Legacy Private Trust Co. bought a new stake in shares of Mylan N.V. during the first quarter valued at approximately $202,000. Bank of Montreal Can increased its stake in shares of Mylan N.V. by 70.1% in the first quarter. Bank of Montreal Can now owns 1,050,878 shares of the company’s stock valued at $40,974,000 after buying an additional 433,171 shares during the period. Capstone Asset Management Co. increased its stake in shares of Mylan N.V. by 1.5% in the first quarter. Capstone Asset Management Co. now owns 18,186 shares of the company’s stock valued at $709,000 after buying an additional 260 shares during the period. Finally, Parametrica Management Ltd bought a new stake in shares of Mylan N.V. during the first quarter valued at approximately $870,000. 70.19% of the stock is owned by hedge funds and other institutional investors.
About Mylan N.V.
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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