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

Mylan (NASDAQ:MYL) had its price objective hoisted by Morgan Stanley from $36.00 to $39.00 in a report published on Tuesday. They currently have a hold rating on the stock.

A number of other equities analysts have also weighed in on MYL. Cowen set a $31.00 price objective on Mylan and gave the stock a hold rating in a research note on Tuesday. Wells Fargo & Co reaffirmed a hold rating on shares of Mylan in a research note on Wednesday, July 25th. Cantor Fitzgerald reaffirmed a hold rating and issued a $41.00 price objective on shares of Mylan in a research note on Wednesday, August 8th. Citigroup dropped their price objective on Mylan from $48.00 to $44.00 and set a buy rating for the company in a research note on Tuesday. Finally, ValuEngine raised Mylan from a sell rating to a hold rating in a research note on Tuesday, August 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Mylan has a consensus rating of Buy and a consensus price target of $46.87.

NASDAQ:MYL traded down $0.20 during mid-day trading on Tuesday, hitting $36.95. 4,300,237 shares of the company traded hands, compared to its average volume of 6,462,479. Mylan has a one year low of $30.33 and a one year high of $47.82. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.77 and a current ratio of 1.26. The firm has a market capitalization of $18.84 billion, a PE ratio of 8.10, a P/E/G ratio of 1.20 and a beta of 1.53.

Mylan (NASDAQ:MYL) last released its quarterly earnings results on Monday, November 5th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.06. Mylan had a return on equity of 19.39% and a net margin of 4.71%. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same quarter in the previous year, the company posted $1.10 earnings per share. Mylan’s revenue for the quarter was down 4.2% on a year-over-year basis. Equities analysts forecast that Mylan will post 4.68 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in MYL. First Mercantile Trust Co. bought a new position in Mylan during the second quarter valued at approximately $121,000. Stratos Wealth Partners LTD. bought a new position in Mylan during the third quarter valued at approximately $183,000. CENTRAL TRUST Co boosted its stake in Mylan by 1,057.8% during the second quarter. CENTRAL TRUST Co now owns 5,210 shares of the company’s stock valued at $188,000 after buying an additional 4,760 shares during the last quarter. FTB Advisors Inc. bought a new position in Mylan during the second quarter valued at approximately $188,000. Finally, Reilly Financial Advisors LLC boosted its stake in Mylan by 69.4% during the third quarter. Reilly Financial Advisors LLC now owns 5,217 shares of the company’s stock valued at $191,000 after buying an additional 2,137 shares during the last quarter. 82.99% of the stock is owned by institutional investors.

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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