Mylan (NASDAQ:MYL) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal” rating in a research report issued on Thursday, November 7th, Marketbeat.com reports. They currently have a $18.00 target price on the stock, down from their previous target price of $25.00. Morgan Stanley’s price target would suggest a potential downside of 1.48% from the stock’s previous close.
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Other equities analysts have also issued research reports about the stock. Wolfe Research started coverage on shares of Mylan in a research note on Friday, July 19th. They issued an “outperform” rating and a $27.00 price objective for the company. TheStreet cut Mylan from a “c-” rating to a “d+” rating in a research report on Friday, August 2nd. ValuEngine raised Mylan from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. BidaskClub upgraded Mylan from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Citigroup set a $26.00 target price on Mylan and gave the company a “buy” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. Mylan has a consensus rating of “Buy” and an average price target of $27.97.
Shares of NASDAQ:MYL opened at $18.27 on Thursday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.84 and a current ratio of 1.43. The stock has a market capitalization of $9.69 billion, a price-to-earnings ratio of 4.07, a price-to-earnings-growth ratio of 1.01 and a beta of 1.72. The company’s fifty day moving average is $18.30 and its two-hundred day moving average is $18.88. Mylan has a 1-year low of $16.63 and a 1-year high of $34.46.
Mylan (NASDAQ:MYL) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.03. The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Mylan had a return on equity of 18.80% and a net margin of 0.42%. Mylan’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. Sell-side analysts expect that Mylan will post 4.31 EPS for the current fiscal year.
In related news, insider Goulds Bruce 8,000,000 shares of the firm’s stock in a transaction dated Friday, November 8th. Corporate insiders own 0.82% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Advisor Group Inc. grew its position in Mylan by 347.3% in the second quarter. Advisor Group Inc. now owns 45,688 shares of the company’s stock valued at $870,000 after acquiring an additional 35,474 shares during the period. World Asset Management Inc boosted its position in Mylan by 6.3% in the third quarter. World Asset Management Inc now owns 37,220 shares of the company’s stock valued at $736,000 after buying an additional 2,203 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Mylan during the 2nd quarter worth approximately $804,000. Voloridge Investment Management LLC acquired a new stake in Mylan during the 2nd quarter valued at $4,064,000. Finally, Signaturefd LLC raised its position in Mylan by 271.8% in the 2nd quarter. Signaturefd LLC now owns 3,376 shares of the company’s stock valued at $64,000 after purchasing an additional 2,468 shares during the last quarter. Institutional investors own 86.54% of the company’s stock.
Mylan Company Profile
Mylan N.V., together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic, branded-generic, brand-name, and over-the-counter (OTC) pharmaceutical products in North America, Europe, and internationally. It offers active pharmaceutical ingredients and finished dosage forms; and antiretroviral medicines to treat HIV/AIDS.
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