Mylan (MYL) Upgraded to Buy by Bank of America
Bank of America upgraded shares of Mylan (NASDAQ:MYL) from a neutral rating to a buy rating in a research report released on Tuesday, Marketbeat.com reports. The firm currently has $42.00 target price on the stock, down from their prior target price of $44.00.
A number of other brokerages have also issued reports on MYL. Cowen reiterated a hold rating and set a $31.00 price target on shares of Mylan in a research report on Thursday, August 9th. Wells Fargo & Co reiterated a hold rating on shares of Mylan in a research report on Wednesday, July 25th. ValuEngine upgraded Mylan from a sell rating to a hold rating in a research report on Tuesday, August 14th. Mizuho lowered Mylan from a buy rating to a neutral rating in a research report on Friday, October 5th. Finally, Leerink Swann reduced their price target on Mylan from $53.00 to $47.00 and set an outperform rating for the company in a research report on Thursday, August 9th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. Mylan presently has a consensus rating of Buy and an average target price of $46.87.
MYL traded down $0.20 during trading on Tuesday, reaching $36.95. 4,300,237 shares of the company were exchanged, compared to its average volume of 6,462,479. The company has a market cap of $18.84 billion, a P/E ratio of 8.10, a PEG ratio of 1.20 and a beta of 1.53. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.26 and a quick ratio of 0.77. Mylan has a 52 week low of $30.33 and a 52 week high of $47.82.
Several institutional investors have recently made changes to their positions in MYL. First Mercantile Trust Co. acquired a new stake in shares of Mylan in the second quarter valued at $121,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Mylan in the third quarter valued at $183,000. CENTRAL TRUST Co lifted its holdings in shares of Mylan by 1,057.8% during the second quarter. CENTRAL TRUST Co now owns 5,210 shares of the company’s stock valued at $188,000 after purchasing an additional 4,760 shares during the last quarter. FTB Advisors Inc. purchased a new stake in shares of Mylan during the second quarter valued at $188,000. Finally, Reilly Financial Advisors LLC lifted its holdings in shares of Mylan by 69.4% during the third quarter. Reilly Financial Advisors LLC now owns 5,217 shares of the company’s stock valued at $191,000 after purchasing an additional 2,137 shares during the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.
Mylan Company Profile
Mylan N.V., together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic, brand name, and over-the-counter (OTC) products worldwide. The company operates through three segments: North America, Europe, and Rest of World. It offers pharmaceutical products in tablet, capsule, injectable, transdermal patch, gel, nebulized, and cream or ointment forms.
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