Royal Bank of Canada Trims Mylan (MYL) Target Price to $50.00

Mylan (NASDAQ:MYL) had its price objective lowered by Royal Bank of Canada from $51.00 to $50.00 in a report issued on Tuesday. The brokerage currently has a buy rating on the stock.

MYL has been the subject of several other reports. Wells Fargo & Co restated a hold rating on shares of Mylan in a report on Thursday, August 2nd. ValuEngine upgraded shares of Mylan from a strong sell rating to a sell rating in a report on Friday, August 3rd. Morgan Stanley lowered shares of Mylan from an overweight rating to an equal weight rating and decreased their price objective for the stock from $46.00 to $36.00 in a report on Tuesday, October 9th. Mizuho lowered shares of Mylan from a buy rating to a neutral rating in a research note on Friday, October 5th. Finally, Cantor Fitzgerald reiterated a hold rating and issued a $41.00 price target on shares of Mylan in a research note on Monday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. Mylan currently has an average rating of Buy and an average price target of $46.87.

NASDAQ MYL traded down $0.20 during trading on Tuesday, hitting $36.95. The company had a trading volume of 322,957 shares, compared to its average volume of 6,361,761. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 1.10. Mylan has a one year low of $30.33 and a one year high of $47.82. The firm has a market capitalization of $18.78 billion, a PE ratio of 8.12, a price-to-earnings-growth ratio of 1.17 and a beta of 1.53.

Mylan (NASDAQ:MYL) last issued its quarterly earnings data on Monday, November 5th. The company reported $1.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.06. Mylan had a net margin of 4.71% and a return on equity of 19.39%. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same period in the prior year, the business earned $1.10 EPS. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, sell-side analysts predict that Mylan will post 4.68 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue increased its stake in Mylan by 5.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 74,135 shares of the company’s stock valued at $2,712,000 after purchasing an additional 3,707 shares in the last quarter. Bellevue Group AG boosted its holdings in shares of Mylan by 114.7% during the 2nd quarter. Bellevue Group AG now owns 502,350 shares of the company’s stock valued at $18,155,000 after acquiring an additional 268,400 shares during the last quarter. Burney Co. boosted its holdings in shares of Mylan by 18.4% during the 2nd quarter. Burney Co. now owns 128,245 shares of the company’s stock valued at $4,635,000 after acquiring an additional 19,914 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Mylan by 12.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,237,468 shares of the company’s stock valued at $80,863,000 after acquiring an additional 253,082 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Mylan by 16.7% during the 2nd quarter. Van ECK Associates Corp now owns 315,905 shares of the company’s stock valued at $11,417,000 after acquiring an additional 45,277 shares during the last quarter. 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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