Mylan (NASDAQ:MYL) had its price objective dropped by analysts at Royal Bank of Canada from $51.00 to $50.00 in a report issued on Tuesday. The firm presently has a “buy” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 37.25% from the company’s previous close.
Several other equities research analysts have also recently weighed in on the company. Morgan Stanley cut Mylan from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $46.00 to $36.00 in a research note on Tuesday, October 9th. Mizuho cut Mylan from a “buy” rating to a “neutral” rating in a research note on Friday, October 5th. BidaskClub cut Mylan from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 9th. Zacks Investment Research raised Mylan from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, ValuEngine cut Mylan from a “hold” rating to a “sell” rating in a research note on Tuesday, September 11th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. Mylan has a consensus rating of “Buy” and a consensus price target of $46.87.
Shares of Mylan stock opened at $36.43 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.18. The company has a market cap of $16.33 billion, a P/E ratio of 7.99, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53. Mylan has a 52 week low of $30.33 and a 52 week high of $47.82.
Mylan (NASDAQ:MYL) last announced its earnings results on Monday, November 5th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.06. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.91 billion. Mylan had a return on equity of 18.48% and a net margin of 3.90%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 earnings per share. On average, equities analysts predict that Mylan will post 4.62 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH boosted its position in shares of Mylan by 120.8% during the first quarter. Allianz Asset Management GmbH now owns 599,969 shares of the company’s stock valued at $24,701,000 after buying an additional 328,258 shares during the last quarter. Clinton Group Inc. purchased a new stake in shares of Mylan during the second quarter valued at $815,000. CENTRAL TRUST Co boosted its position in shares of Mylan by 1,057.8% during the second quarter. CENTRAL TRUST Co now owns 5,210 shares of the company’s stock valued at $188,000 after buying an additional 4,760 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Mylan by 2.4% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 103,971 shares of the company’s stock valued at $3,758,000 after buying an additional 2,400 shares during the last quarter. Finally, Xact Kapitalforvaltning AB boosted its position in shares of Mylan by 8.3% during the second quarter. Xact Kapitalforvaltning AB now owns 91,774 shares of the company’s stock valued at $3,317,000 after buying an additional 7,013 shares during the last quarter. 82.99% of the stock is currently 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, brand name, and over-the-counter (OTC) products worldwide. The company operates through three segments: North America, Europe, and Rest of World. It offers pharmaceutical products in tablet, capsule, injectable, transdermal patch, gel, nebulized, and cream or ointment forms.
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