Wells Fargo & Co Reiterates “Market Perform” Rating for Mylan (MYL)

Mylan (NASDAQ:MYL)‘s stock had its “market perform” rating reaffirmed by research analysts at Wells Fargo & Co in a note issued to investors on Friday, April 14th. They currently have a $40.00 target price on the stock. Wells Fargo & Co’s target price indicates a potential upside of 4.85% from the company’s previous close.

A number of other analysts also recently issued reports on MYL. Stifel Nicolaus reaffirmed a “positive” rating on shares of Mylan in a research note on Friday, December 30th. Vetr downgraded Mylan from a “strong-buy” rating to a “buy” rating and set a $42.20 target price for the company. in a research note on Monday, January 2nd. Zacks Investment Research downgraded Mylan from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 3rd. BTIG Research reissued a “buy” rating and set a $55.00 price objective on shares of Mylan in a research report on Tuesday, January 3rd. Finally, Citigroup Inc downgraded Mylan from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $59.00 to $44.00 in a research report on Thursday, January 5th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $51.58.

Analyst Recommendations for Mylan (NASDAQ:MYL)

Shares of Mylan (NASDAQ:MYL) traded down 0.45% on Friday, reaching $37.98. 2,402,859 shares of the company’s stock traded hands. The firm has a market cap of $20.36 billion, a P/E ratio of 37.94 and a beta of 1.14. The stock has a 50-day moving average of $38.13 and a 200 day moving average of $38.73. Mylan has a 12-month low of $33.60 and a 12-month high of $50.40.

Mylan (NASDAQ:MYL) last posted its quarterly earnings data on Wednesday, May 10th. The company reported $0.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.01. Mylan had a return on equity of 22.04% and a net margin of 2.50%. The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the prior year, the company earned $0.76 EPS. The firm’s revenue was up 24.1% compared to the same quarter last year. On average, equities research analysts expect that Mylan will post $5.17 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This story was originally published by Community Financial News and is owned by of Community Financial News. If you are viewing this story on another domain, it was illegally copied and republished in violation of US and international copyright and trademark law. The legal version of this story can be accessed at https://www.com-unik.info/2017/05/19/wells-fargo-co-reiterates-market-perform-rating-for-mylan-myl-updated-updated-updated.html.

In other news, major shareholder Laboratories Abbott sold 44,000,000 shares of the business’s stock in a transaction that occurred on Thursday, March 23rd. The stock was sold at an average price of $41.60, for a total value of $1,830,400,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.71% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MYL. Cleararc Capital Inc. raised its position in Mylan by 0.6% in the first quarter. Cleararc Capital Inc. now owns 10,394 shares of the company’s stock worth $405,000 after buying an additional 67 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Mylan by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,380 shares of the company’s stock worth $1,006,000 after buying an additional 107 shares during the last quarter. Kernodle & Katon Asset Management Group LLC raised its position in Mylan by 4.7% in the third quarter. Kernodle & Katon Asset Management Group LLC now owns 2,884 shares of the company’s stock worth $110,000 after buying an additional 129 shares during the last quarter. Conning Inc. raised its position in Mylan by 1.3% in the first quarter. Conning Inc. now owns 10,128 shares of the company’s stock worth $395,000 after buying an additional 130 shares during the last quarter. Finally, Sei Investments Co. raised its position in Mylan by 1.0% in the first quarter. Sei Investments Co. now owns 13,870 shares of the company’s stock worth $541,000 after buying an additional 134 shares during the last quarter. 60.89% of the stock is currently owned by institutional investors and hedge funds.

About Mylan

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.

5 Day Chart for NASDAQ:MYL

What are top analysts saying about Mylan? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Mylan and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit