Mylan (NASDAQ:MYL) Price Target Cut to $18.00 by Analysts at Morgan Stanley

Mylan (NASDAQ:MYL) had its price objective lowered by Morgan Stanley from $23.00 to $18.00 in a report issued on Thursday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada cut their price target on shares of Mylan from $27.00 to $26.00 and set an outperform rating for the company in a report on Friday, March 27th. Piper Sandler assumed coverage on shares of Mylan in a research note on Thursday, January 9th. They issued a neutral rating and a $21.00 price objective on the stock. SunTrust Banks reissued a buy rating and issued a $27.00 price objective on shares of Mylan in a research note on Wednesday, February 5th. Evercore ISI reissued a buy rating on shares of Mylan in a research note on Monday, December 16th. Finally, BidaskClub raised shares of Mylan from a sell rating to a hold rating in a research note on Tuesday, March 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. Mylan currently has a consensus rating of Hold and an average target price of $25.89.

Shares of MYL traded down $0.18 during trading hours on Thursday, reaching $13.74. The company had a trading volume of 8,137,135 shares, compared to its average volume of 9,768,782. The firm has a 50 day simple moving average of $16.99 and a 200-day simple moving average of $19.04. The company has a current ratio of 1.21, a quick ratio of 0.73 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $7.19 billion, a price-to-earnings ratio of 458.15, a PEG ratio of 1.18 and a beta of 1.62. Mylan has a 12-month low of $12.75 and a 12-month high of $28.45.

Mylan (NASDAQ:MYL) last announced its quarterly earnings results on Thursday, February 27th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.12. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.22 billion. Mylan had a net margin of 0.15% and a return on equity of 19.35%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.30 EPS. Sell-side analysts forecast that Mylan will post 4.42 earnings per share for the current year.

In related news, insider Paul Campbell sold 11,611 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $23.00, for a total value of $267,053.00. Following the sale, the insider now directly owns 37,024 shares of the company’s stock, valued at $851,552. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.81% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Mylan by 1.9% in the fourth quarter. State Street Corp now owns 23,385,602 shares of the company’s stock worth $470,051,000 after purchasing an additional 425,895 shares during the period. Pzena Investment Management LLC boosted its holdings in Mylan by 7.1% in the fourth quarter. Pzena Investment Management LLC now owns 20,781,717 shares of the company’s stock worth $417,713,000 after purchasing an additional 1,373,299 shares during the period. Geode Capital Management LLC boosted its holdings in Mylan by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 10,289,282 shares of the company’s stock worth $206,482,000 after purchasing an additional 499,230 shares during the period. FIL Ltd boosted its holdings in Mylan by 9.5% in the fourth quarter. FIL Ltd now owns 8,158,323 shares of the company’s stock worth $163,983,000 after purchasing an additional 710,964 shares during the period. Finally, Norges Bank acquired a new position in Mylan in the fourth quarter worth $104,305,000. 85.42% of the stock is owned by hedge funds and other institutional investors.

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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