Wells Fargo & Co Reaffirms Market Perform Rating for Mylan (MYL)

Mylan (NASDAQ:MYL)‘s stock had its “market perform” rating reissued by stock analysts at Wells Fargo & Co in a report released on Thursday. They currently have a $43.00 target price on the stock, up from their prior target price of $33.00. Wells Fargo & Co’s target price points to a potential downside of 8.08% from the stock’s previous close.

Several other analysts have also recently commented on the company. Zacks Investment Research cut Mylan from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Cantor Fitzgerald set a $34.00 target price on Mylan and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Guggenheim started coverage on Mylan in a research report on Tuesday, December 12th. They issued a “buy” rating and a $59.00 target price for the company. Mizuho reaffirmed a “buy” rating and issued a $37.00 target price on shares of Mylan in a research report on Tuesday, October 24th. Finally, Royal Bank of Canada raised their target price on Mylan from $32.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $44.19.

Shares of Mylan (MYL) opened at $46.78 on Thursday. The company has a market capitalization of $25,019.39, a price-to-earnings ratio of 29.06, a PEG ratio of 1.48 and a beta of 1.38. The company has a quick ratio of 0.95, a current ratio of 1.46 and a debt-to-equity ratio of 1.05. Mylan has a 12-month low of $29.39 and a 12-month high of $47.25.

Mylan (NASDAQ:MYL) last issued its earnings results on Monday, November 6th. The company reported $1.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.10). The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.09 billion. Mylan had a return on equity of 20.63% and a net margin of 7.28%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the business earned $1.38 EPS. research analysts expect that Mylan will post 4.56 EPS for the current year.

In related news, CEO Heather M. Bresch sold 75,000 shares of Mylan stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $45.00, for a total transaction of $3,375,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.69% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in MYL. Pzena Investment Management LLC lifted its position in shares of Mylan by 84.1% in the third quarter. Pzena Investment Management LLC now owns 22,721,384 shares of the company’s stock worth $712,770,000 after buying an additional 10,381,697 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Mylan by 12.0% in the second quarter. Vanguard Group Inc. now owns 32,880,790 shares of the company’s stock worth $1,276,432,000 after buying an additional 3,531,974 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of Mylan by 74.7% in the third quarter. Schroder Investment Management Group now owns 3,026,172 shares of the company’s stock worth $93,388,000 after buying an additional 1,294,400 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Mylan by 70.8% in the third quarter. Russell Investments Group Ltd. now owns 2,584,880 shares of the company’s stock worth $81,079,000 after buying an additional 1,071,089 shares during the last quarter. Finally, GMT Capital Corp acquired a new stake in shares of Mylan in the third quarter worth about $30,172,000. 74.90% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Mylan (NASDAQ:MYL)

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