Morgan Stanley Downgrades Mylan (NASDAQ:MYL) to Equal

Mylan (NASDAQ:MYL) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. They presently have a $18.00 target price on the stock, down from their previous target price of $25.00. Morgan Stanley’s price objective would indicate a potential upside of 2.21% from the stock’s previous close.

Several other research analysts have also recently issued reports on MYL. Wolfe Research started coverage on shares of Mylan in a report on Friday, July 19th. They set an “outperform” rating and a $27.00 target price on the stock. TheStreet cut shares of Mylan from a “c-” rating to a “d+” rating in a report on Friday, August 2nd. Evercore ISI reiterated a “buy” rating on shares of Mylan in a report on Friday, August 9th. Mizuho increased their target price on shares of Mylan from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, Citigroup set a $26.00 target price on shares of Mylan and gave the stock a “buy” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $27.97.

Mylan stock traded up $0.60 during mid-day trading on Thursday, reaching $17.61. 6,777,300 shares of the company’s stock traded hands, compared to its average volume of 6,638,295. The company has a quick ratio of 0.77, a current ratio of 1.43 and a debt-to-equity ratio of 1.09. Mylan has a 12-month low of $16.63 and a 12-month high of $37.06. The stock has a 50 day moving average of $19.03 and a two-hundred day moving average of $19.74. The company has a market cap of $9.18 billion, a price-to-earnings ratio of 3.84, a PEG ratio of 0.84 and a beta of 1.75.

Mylan (NASDAQ:MYL) last issued its earnings results on Tuesday, November 5th. The company reported $1.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.03. Mylan had a net margin of 0.42% and a return on equity of 18.80%. The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the prior year, the business earned $1.25 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, sell-side analysts forecast that Mylan will post 4.29 earnings per share for the current year.

In related news, Director Sjoerd S. Vollebregt acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of $19.11 per share, with a total value of $191,100.00. Following the transaction, the director now directly owns 18,258 shares of the company’s stock, valued at approximately $348,910.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Melina E. Higgins acquired 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average cost of $17.68 per share, with a total value of $353,600.00. Following the completion of the transaction, the director now directly owns 33,120 shares in the company, valued at $585,561.60. The disclosure for this purchase can be found here. Corporate insiders own 0.81% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC raised its position in Mylan by 170.0% during the 2nd quarter. Advisory Services Network LLC now owns 1,520 shares of the company’s stock worth $29,000 after buying an additional 957 shares during the last quarter. NuWave Investment Management LLC raised its position in Mylan by 1,111.0% during the 2nd quarter. NuWave Investment Management LLC now owns 2,192 shares of the company’s stock worth $42,000 after buying an additional 2,011 shares during the last quarter. Rational Advisors LLC raised its position in Mylan by 1,111.0% during the 2nd quarter. Rational Advisors LLC now owns 2,192 shares of the company’s stock worth $42,000 after buying an additional 2,011 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in Mylan by 92.9% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 2,367 shares of the company’s stock worth $46,000 after buying an additional 1,140 shares during the last quarter. Finally, CSat Investment Advisory L.P. raised its position in Mylan by 258.9% during the 2nd quarter. CSat Investment Advisory L.P. now owns 2,835 shares of the company’s stock worth $54,000 after buying an additional 2,045 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Mylan Company Profile

Mylan N.V., together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic, branded-generic, brand-name, and over-the-counter (OTC) pharmaceutical products in North America, Europe, and internationally. It offers active pharmaceutical ingredients and finished dosage forms; and antiretroviral medicines to treat HIV/AIDS.

Read More: Blue-Chip Stocks

Analyst Recommendations for Mylan (NASDAQ:MYL)

Receive News & Ratings for Mylan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mylan and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


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