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.
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.
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.
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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