Mylan (MYL) Given New $39.00 Price Target at Morgan Stanley

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Mylan (NASDAQ:MYL) had its price objective hoisted by stock analysts at Morgan Stanley from $36.00 to $39.00 in a report released on Tuesday. The firm presently has a “hold” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 7.14% from the stock’s previous close.

MYL has been the topic of a number of other research reports. Wells Fargo & Co reissued a “hold” rating on shares of Mylan in a research note on Thursday, August 2nd. ValuEngine upgraded Mylan from a “strong sell” rating to a “sell” rating in a report on Friday, August 3rd. Royal Bank of Canada upgraded Mylan from a “sector perform” rating to an “outperform” rating and set a $53.00 target price on the stock in a report on Monday, August 13th. Mizuho cut Mylan from a “buy” rating to a “neutral” rating in a report on Friday, October 5th. Finally, Zacks Investment Research upgraded Mylan from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Mylan has a consensus rating of “Buy” and an average target price of $46.87.

Shares of MYL traded down $0.03 during midday trading on Tuesday, reaching $36.40. The stock had a trading volume of 1,125,268 shares, compared to its average volume of 5,571,985. Mylan has a 52 week low of $30.33 and a 52 week high of $47.82. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.77 and a current ratio of 1.29. The company has a market capitalization of $16.33 billion, a PE ratio of 7.98, a P/E/G ratio of 1.02 and a beta of 1.53.

Mylan (NASDAQ:MYL) last posted its quarterly earnings data on Monday, November 5th. The company reported $1.25 EPS for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.06. Mylan had a return on equity of 18.48% and a net margin of 3.90%. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the previous year, the business earned $1.10 EPS. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts forecast that Mylan will post 4.62 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of MYL. First Mercantile Trust Co. purchased a new position in Mylan in the second quarter valued at about $121,000. Stratos Wealth Partners LTD. purchased a new position in Mylan in the third quarter valued at about $183,000. CENTRAL TRUST Co grew its stake in Mylan by 1,057.8% in the second quarter. CENTRAL TRUST Co now owns 5,210 shares of the company’s stock valued at $188,000 after purchasing an additional 4,760 shares in the last quarter. Reilly Financial Advisors LLC grew its stake in Mylan by 69.4% in the third quarter. Reilly Financial Advisors LLC now owns 5,217 shares of the company’s stock valued at $191,000 after purchasing an additional 2,137 shares in the last quarter. Finally, FTB Advisors Inc. purchased a new position in Mylan in the second quarter valued at about $188,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

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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Analyst Recommendations for Mylan (NASDAQ:MYL)

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