Mylan (MYL) Raised to “Sell” at ValuEngine

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ValuEngine upgraded shares of Mylan (NASDAQ:MYL) from a strong sell rating to a sell rating in a research note issued to investors on Tuesday morning.

A number of other research firms have also recently commented on MYL. Cantor Fitzgerald restated a hold rating and issued a $41.00 price objective on shares of Mylan in a research report on Wednesday, August 8th. Wells Fargo & Co set a $41.00 price objective on shares of Mylan and gave the company a hold rating in a research report on Wednesday, August 8th. Leerink Swann lowered their price objective on shares of Mylan from $53.00 to $47.00 and set an outperform rating for the company in a research report on Thursday, August 9th. Raymond James cut shares of Mylan from a strong-buy rating to an outperform rating in a research report on Thursday, August 9th. Finally, Cowen restated a hold rating and issued a $31.00 price objective on shares of Mylan in a research report on Thursday, August 9th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $46.87.

Shares of Mylan stock opened at $36.95 on Tuesday. The firm has a market cap of $18.84 billion, a price-to-earnings ratio of 8.10, a price-to-earnings-growth ratio of 1.20 and a beta of 1.53. 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 1.20, a current ratio of 1.26 and a quick ratio of 0.77.

Mylan (NASDAQ:MYL) last issued its earnings results on Monday, November 5th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.19 by $0.06. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.91 billion. Mylan had a net margin of 4.71% and a return on equity of 19.39%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 EPS. As a group, sell-side analysts forecast that Mylan will post 4.68 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in MYL. Bank of New York Mellon Corp boosted its stake in Mylan by 32.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,408,218 shares of the company’s stock worth $340,012,000 after purchasing an additional 2,284,545 shares during the period. Bank of Montreal Can boosted its stake in Mylan by 605.0% in the 3rd quarter. Bank of Montreal Can now owns 2,193,264 shares of the company’s stock worth $80,274,000 after purchasing an additional 1,882,157 shares during the period. Orbimed Advisors LLC boosted its stake in Mylan by 77.7% in the 2nd quarter. Orbimed Advisors LLC now owns 3,702,800 shares of the company’s stock worth $133,819,000 after purchasing an additional 1,618,500 shares during the period. Kornitzer Capital Management Inc. KS acquired a new position in Mylan in the 2nd quarter worth $38,614,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its stake in Mylan by 522.2% in the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,131,937 shares of the company’s stock worth $40,908,000 after purchasing an additional 950,000 shares during the period. 82.99% of the stock is 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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Analyst Recommendations for Mylan (NASDAQ:MYL)

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