Cowen Reiterates $31.00 Price Target for Mylan (MYL)

Mylan (NASDAQ:MYL) has been assigned a $31.00 price objective by equities research analysts at Cowen in a research report issued to clients and investors on Tuesday. The firm presently has a “hold” rating on the stock. Cowen’s price target indicates a potential downside of 15.18% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Mizuho reaffirmed a “buy” rating and set a $54.00 target price on shares of Mylan in a report on Wednesday, August 8th. Citigroup reduced their target price on Mylan from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, August 9th. Bank of America raised Mylan from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $44.00 to $42.00 in a report on Tuesday. Morgan Stanley downgraded Mylan from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $46.00 to $36.00 in a report on Tuesday, October 9th. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of Mylan in a report on Thursday, August 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $46.87.

Shares of MYL opened at $36.55 on Tuesday. The stock has a market capitalization of $18.78 billion, a P/E ratio of 8.02, a price-to-earnings-growth ratio of 1.17 and a beta of 1.53. Mylan has a one year low of $30.33 and a one year high of $47.82. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 1.10.

Mylan (NASDAQ:MYL) last issued its quarterly earnings results on Monday, November 5th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.06. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.91 billion. Mylan had a return on equity of 19.39% and a net margin of 4.71%. Mylan’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.10 earnings per share. On average, research analysts anticipate that Mylan will post 4.61 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue lifted its holdings in shares of Mylan by 5.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 74,135 shares of the company’s stock worth $2,712,000 after purchasing an additional 3,707 shares during the last quarter. Bellevue Group AG lifted its holdings in shares of Mylan by 114.7% in the 2nd quarter. Bellevue Group AG now owns 502,350 shares of the company’s stock worth $18,155,000 after purchasing an additional 268,400 shares during the last quarter. Burney Co. lifted its holdings in shares of Mylan by 18.4% in the 2nd quarter. Burney Co. now owns 128,245 shares of the company’s stock worth $4,635,000 after purchasing an additional 19,914 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Mylan by 12.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,237,468 shares of the company’s stock worth $80,863,000 after purchasing an additional 253,082 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Mylan by 16.7% in the 2nd quarter. Van ECK Associates Corp now owns 315,905 shares of the company’s stock worth $11,417,000 after purchasing an additional 45,277 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors and hedge funds.

About Mylan

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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