Mylan (NASDAQ:MYL) had its price target lowered by stock analysts at Cantor Fitzgerald from $31.00 to $18.00 in a research note issued to investors on Wednesday, The Fly reports. The firm presently has a “neutral” rating on the stock. Cantor Fitzgerald’s price target points to a potential upside of 3.69% from the company’s current price.
MYL has been the topic of several other reports. BidaskClub upgraded shares of Mylan from a “strong sell” rating to a “sell” rating in a research report on Tuesday, April 30th. Royal Bank of Canada lowered their price target on shares of Mylan to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 8th. Mizuho reiterated a “hold” rating on shares of Mylan in a research report on Tuesday, May 14th. UBS Group lowered their price target on shares of Mylan to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 28th. Finally, BTIG Research lowered their price target on shares of Mylan to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, February 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Mylan presently has a consensus rating of “Buy” and a consensus target price of $35.33.
NASDAQ MYL traded up $0.20 during trading hours on Wednesday, hitting $17.36. 186,705 shares of the stock were exchanged, compared to its average volume of 7,629,231. The stock has a market capitalization of $9.03 billion, a P/E ratio of 3.79, a P/E/G ratio of 0.91 and a beta of 1.73. Mylan has a 12-month low of $16.63 and a 12-month high of $42.50. The company has a quick ratio of 0.85, a current ratio of 1.51 and a debt-to-equity ratio of 1.20.
Mylan (NASDAQ:MYL) last issued its earnings results on Tuesday, May 7th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.03. Mylan had a net margin of 2.14% and a return on equity of 18.96%. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same period last year, the company posted $0.96 earnings per share. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. On average, equities research analysts expect that Mylan will post 4.28 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC increased its stake in Mylan by 107.1% during the 1st quarter. Global Retirement Partners LLC now owns 967 shares of the company’s stock worth $27,000 after buying an additional 500 shares during the period. Pinnacle Bank increased its stake in Mylan by 66.4% during the 1st quarter. Pinnacle Bank now owns 1,060 shares of the company’s stock worth $30,000 after buying an additional 423 shares during the period. Cresset Asset Management LLC purchased a new stake in Mylan during the 1st quarter worth $41,000. Mascoma Wealth Management LLC purchased a new stake in Mylan during the 1st quarter worth $47,000. Finally, Kinneret Advisory LLC purchased a new stake in Mylan during the 4th quarter worth $71,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.
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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