Leerink Swann Upgrades Mylan (MYL) to Outperform

Mylan (NASDAQ:MYL) was upgraded by equities research analysts at Leerink Swann from a “market perform” rating to an “outperform” rating in a note issued to investors on Thursday, The Fly reports.

Several other research analysts have also recently issued reports on MYL. Royal Bank of Canada set a $45.00 price target on Mylan and gave the stock a “hold” rating in a research note on Tuesday, April 3rd. Morgan Stanley set a $50.00 target price on Mylan and gave the company a “buy” rating in a research note on Monday. Cantor Fitzgerald set a $41.00 target price on Mylan and gave the company a “hold” rating in a research note on Wednesday. ValuEngine cut Mylan from a “buy” rating to a “hold” rating in a research note on Friday, March 2nd. Finally, BidaskClub cut Mylan from a “buy” rating to a “hold” rating in a research note on Saturday, February 3rd. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $47.02.

How to Become a New Pot Stock Millionaire

NASDAQ:MYL opened at $40.39 on Thursday. Mylan has a 1 year low of $29.39 and a 1 year high of $47.82. The firm has a market capitalization of $21,373.74, a PE ratio of 8.86, a price-to-earnings-growth ratio of 1.32 and a beta of 1.34. The company has a quick ratio of 0.73, a current ratio of 1.13 and a debt-to-equity ratio of 1.06.

Mylan (NASDAQ:MYL) last released its quarterly earnings results on Wednesday, February 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.02. Mylan had a return on equity of 19.14% and a net margin of 5.84%. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter in the prior year, the business posted $1.57 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. sell-side analysts predict that Mylan will post 5.38 earnings per share for the current year.

In related news, insider Paul Campbell sold 7,030 shares of the stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $44.01, for a total value of $309,390.30. Following the completion of the sale, the insider now directly owns 17,054 shares of the company’s stock, valued at approximately $750,546.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anthony Mauro sold 12,257 shares of the stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $40.35, for a total value of $494,569.95. Following the completion of the sale, the insider now directly owns 147,435 shares of the company’s stock, valued at $5,949,002.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 269,287 shares of company stock valued at $11,034,960. 0.69% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in MYL. Ameriprise Financial Inc. lifted its stake in Mylan by 16.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 326,281 shares of the company’s stock worth $10,228,000 after acquiring an additional 46,853 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Mylan by 20.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,553,480 shares of the company’s stock worth $111,450,000 after purchasing an additional 612,513 shares during the last quarter. First Republic Investment Management Inc. increased its position in Mylan by 12.0% in the 3rd quarter. First Republic Investment Management Inc. now owns 26,505 shares of the company’s stock worth $832,000 after purchasing an additional 2,845 shares during the last quarter. Vident Investment Advisory LLC acquired a new position in Mylan in the 3rd quarter worth about $426,000. Finally, Janus Henderson Group PLC increased its position in Mylan by 56.5% in the 3rd quarter. Janus Henderson Group PLC now owns 114,620 shares of the company’s stock worth $3,593,000 after purchasing an additional 41,389 shares during the last quarter. 84.54% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: This report was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://www.dispatchtribunal.com/2018/04/12/leerink-swann-upgrades-mylan-myl-to-outperform.html.

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.

The Fly

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.

Leave a Reply