Mylan (NASDAQ:MYL) Price Target Raised to $27.00

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Mylan (NASDAQ:MYL) had its price target upped by investment analysts at Mizuho from $25.00 to $27.00 in a research note issued on Tuesday, July 30th, The Fly reports. The firm presently has a “neutral” rating on the stock. Mizuho’s price target suggests a potential upside of 53.32% from the company’s previous close.

A number of other brokerages have also recently weighed in on MYL. Barclays assumed coverage on Mylan in a research report on Tuesday, June 11th. They set an “overweight” rating and a $26.00 price target on the stock. Wolfe Research assumed coverage on Mylan in a research report on Friday, July 19th. They issued an “outperform” rating and a $27.00 target price on the stock. BMO Capital Markets set a $36.00 target price on Mylan and gave the company a “buy” rating in a research report on Wednesday, May 8th. Raymond James set a $31.00 target price on Mylan and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, Wells Fargo & Co cut Mylan from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $33.00 to $22.00 in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $30.43.

Shares of MYL opened at $17.61 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.77 and a current ratio of 1.37. The stock has a 50-day moving average price of $19.10 and a 200 day moving average price of $23.57. Mylan has a one year low of $16.63 and a one year high of $39.59. The company has a market capitalization of $9.87 billion, a P/E ratio of 3.84, a P/E/G ratio of 0.91 and a beta of 1.77.

Mylan (NASDAQ:MYL) last released its earnings results on Monday, July 29th. The company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.82 billion. Mylan had a return on equity of 18.93% and a net margin of 0.30%. Mylan’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 EPS. As a group, equities research analysts forecast that Mylan will post 4.3 earnings per share for the current fiscal year.

In related news, Director Richard A. Mark bought 4,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were bought at an average cost of $20.97 per share, for a total transaction of $83,880.00. Following the completion of the acquisition, the director now directly owns 4,000 shares in the company, valued at $83,880. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert J. Coury bought 49,859 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were bought at an average price of $20.06 per share, for a total transaction of $1,000,171.54. Following the completion of the acquisition, the director now owns 947,194 shares of the company’s stock, valued at $19,000,711.64. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 63,859 shares of company stock valued at $1,275,152. 0.81% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC increased its stake in shares of Mylan by 107.1% in the first quarter. Global Retirement Partners LLC now owns 967 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares during the period. Pinnacle Bank increased its stake in shares of Mylan by 66.4% in the first quarter. Pinnacle Bank now owns 1,060 shares of the company’s stock worth $30,000 after purchasing an additional 423 shares during the period. Advisory Services Network LLC grew its position in Mylan by 170.0% during the second quarter. Advisory Services Network LLC now owns 1,520 shares of the company’s stock worth $29,000 after buying an additional 957 shares in the last quarter. Mascoma Wealth Management LLC acquired a new stake in Mylan during the first quarter worth about $47,000. Finally, NuWave Investment Management LLC grew its position in Mylan by 1,111.0% during the second 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 in the last quarter. Institutional investors own 83.54% of the company’s stock.

About Mylan

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.

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