Barclays Begins Coverage on Mylan (NASDAQ:MYL)

Barclays started coverage on shares of Mylan (NASDAQ:MYL) in a research note released on Tuesday, BenzingaRatingsTable reports. The brokerage issued an overweight rating and a $26.00 target price on the stock.

Other equities analysts have also issued research reports about the stock. BidaskClub upgraded shares of Mylan from a sell rating to a hold rating in a report on Monday, May 6th. Sanford C. Bernstein lowered shares of Mylan from an outperform rating to a market perform rating and set a $33.00 price objective on the stock. in a report on Wednesday, February 27th. BMO Capital Markets set a $36.00 price objective on shares of Mylan and gave the stock a buy rating in a report on Wednesday, May 8th. Mizuho reiterated a hold rating on shares of Mylan in a report on Tuesday, May 14th. Finally, Argus cut their price objective on shares of Mylan to $32.00 and set a buy rating on the stock in a report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $36.43.

Shares of Mylan stock opened at $17.51 on Tuesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.51 and a quick ratio of 0.85. Mylan has a twelve month low of $16.63 and a twelve month high of $42.50. The firm has a market cap of $9.03 billion, a P/E ratio of 3.82, a price-to-earnings-growth ratio of 0.90 and a beta of 1.73.

Mylan (NASDAQ:MYL) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. Mylan had a net margin of 2.14% and a return on equity of 18.96%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the prior year, the company earned $0.96 EPS. The firm’s revenue was down 7.0% on a year-over-year basis. As a group, sell-side analysts expect that Mylan will post 4.28 earnings per share for the current year.

Several institutional investors have recently modified their holdings of MYL. Clearbridge Investments LLC grew its position in Mylan by 15.6% in the 1st quarter. Clearbridge Investments LLC now owns 4,677,312 shares of the company’s stock worth $132,555,000 after purchasing an additional 632,297 shares during the last quarter. Accident Compensation Corp grew its position in Mylan by 6.0% in the 1st quarter. Accident Compensation Corp now owns 98,704 shares of the company’s stock worth $2,797,000 after purchasing an additional 5,600 shares during the last quarter. Allstate Corp bought a new position in Mylan in the 1st quarter worth about $415,000. Nordea Investment Management AB grew its position in Mylan by 15.9% in the 1st quarter. Nordea Investment Management AB now owns 41,285 shares of the company’s stock worth $1,170,000 after purchasing an additional 5,665 shares during the last quarter. Finally, Ameritas Investment Corp grew its position in Mylan by 3,294.5% in the 1st quarter. Ameritas Investment Corp now owns 3,700 shares of the company’s stock worth $105,000 after purchasing an additional 3,591 shares during the last quarter. Institutional investors and hedge funds own 83.79% 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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Analyst Recommendations for Mylan (NASDAQ:MYL)

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