Leerink Swann Equities Analysts Lift Earnings Estimates for Mylan (MYL)

Mylan (NASDAQ:MYL) – Equities research analysts at Leerink Swann raised their Q4 2018 EPS estimates for Mylan in a report issued on Monday, April 16th. Leerink Swann analyst A. Fadia now expects that the company will earn $1.80 per share for the quarter, up from their prior forecast of $1.30. Leerink Swann has a “Outperform” rating and a $44.00 price target on the stock.

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A number of other research analysts have also issued reports on the company. JPMorgan Chase set a $53.00 target price on Mylan and gave the stock a “buy” rating in a report on Thursday, April 12th. Cantor Fitzgerald set a $41.00 target price on Mylan and gave the stock a “hold” rating in a report on Wednesday, April 11th. Morgan Stanley set a $50.00 target price on Mylan and gave the stock a “buy” rating in a report on Monday, April 9th. Royal Bank of Canada set a $45.00 target price on Mylan and gave the stock a “hold” rating in a report on Tuesday, April 3rd. Finally, Mizuho lifted their target price on Mylan from $45.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, March 15th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Mylan currently has a consensus rating of “Buy” and a consensus price target of $47.02.

NASDAQ:MYL opened at $40.81 on Wednesday. The stock has a market cap of $21,095.75, a P/E ratio of 8.95, a PEG ratio of 1.33 and a beta of 1.34. Mylan has a 52-week low of $29.39 and a 52-week high of $47.82. The company has a current ratio of 1.13, a quick ratio of 0.73 and a debt-to-equity ratio of 1.06.

Mylan (NASDAQ:MYL) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.02. The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Mylan had a net margin of 5.84% and a return on equity of 19.14%. The company’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the business earned $1.57 earnings per share.

A number of large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake in Mylan by 30.3% during the 4th quarter. Bank of New York Mellon Corp now owns 5,334,789 shares of the company’s stock valued at $225,715,000 after acquiring an additional 1,239,089 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Mylan by 20.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,553,480 shares of the company’s stock valued at $111,450,000 after acquiring an additional 612,513 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Mylan during the 4th quarter valued at about $137,023,000. Millennium Management LLC grew its stake in Mylan by 3,005.3% during the 4th quarter. Millennium Management LLC now owns 2,905,317 shares of the company’s stock valued at $122,924,000 after acquiring an additional 3,005,317 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Mylan by 72.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,560,305 shares of the company’s stock valued at $108,326,000 after acquiring an additional 1,079,696 shares in the last quarter. 84.53% of the stock is currently owned by institutional investors.

In other Mylan news, insider Anthony Mauro sold 12,257 shares of Mylan stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $40.35, for a total transaction of $494,569.95. Following the transaction, the insider now owns 147,435 shares of the company’s stock, valued at approximately $5,949,002.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Rajiv Malik sold 50,000 shares of Mylan stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $40.91, for a total value of $2,045,500.00. Following the transaction, the president now directly owns 503,751 shares in the company, valued at approximately $20,608,453.41. The disclosure for this sale can be found here. Insiders sold a total of 269,287 shares of company stock worth $11,034,960 in the last three months. 0.69% of the stock is currently owned by company insiders.

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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.

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