UBS Group Boosts Mylan (NASDAQ:MYL) Price Target to $18.00

Mylan (NASDAQ:MYL) had its price target increased by UBS Group from $17.00 to $18.00 in a report published on Tuesday, BenzingaRatingsTable reports. The firm currently has a neutral rating on the stock.

Several other brokerages have also issued reports on MYL. Piper Sandler lowered their target price on Mylan from $23.00 to $17.00 and set a neutral rating for the company in a research report on Wednesday, April 15th. Royal Bank of Canada reiterated a buy rating and set a $26.00 price target on shares of Mylan in a report on Tuesday, May 12th. TheStreet upgraded Mylan from a d+ rating to a c rating in a report on Thursday, August 6th. Wells Fargo & Co decreased their price target on Mylan from $23.00 to $18.00 and set an equal weight rating for the company in a report on Thursday, April 30th. Finally, BidaskClub downgraded Mylan from a hold rating to a sell rating in a report on Thursday, July 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The company has an average rating of Hold and an average target price of $20.67.

NASDAQ:MYL traded up $0.01 during trading hours on Tuesday, hitting $16.15. 82,611 shares of the company were exchanged, compared to its average volume of 6,637,100. The stock has a market capitalization of $8.67 billion, a price-to-earnings ratio of 30.49, a price-to-earnings-growth ratio of 1.74 and a beta of 1.53. The company has a current ratio of 0.93, a quick ratio of 0.53 and a debt-to-equity ratio of 0.84. Mylan has a one year low of $12.75 and a one year high of $23.11. The company has a fifty day simple moving average of $16.27 and a 200 day simple moving average of $17.03.

Mylan (NASDAQ:MYL) last announced its earnings results on Thursday, August 6th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.16. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.74 billion. Mylan had a return on equity of 20.43% and a net margin of 2.35%. Mylan’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the company earned $1.03 EPS. Equities research analysts predict that Mylan will post 4.34 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of MYL. Massachusetts Financial Services Co. MA lifted its position in shares of Mylan by 2.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,842,968 shares of the company’s stock worth $27,479,000 after buying an additional 48,693 shares in the last quarter. Treasurer of the State of North Carolina grew its position in Mylan by 66.9% in the first quarter. Treasurer of the State of North Carolina now owns 220,508 shares of the company’s stock worth $3,288,000 after acquiring an additional 88,380 shares in the last quarter. Rhumbline Advisers grew its position in Mylan by 11.7% in the first quarter. Rhumbline Advisers now owns 796,519 shares of the company’s stock worth $11,876,000 after acquiring an additional 83,172 shares in the last quarter. AXA purchased a new position in Mylan in the first quarter worth $12,491,000. Finally, Royal Bank of Canada grew its position in Mylan by 48.0% in the first quarter. Royal Bank of Canada now owns 258,397 shares of the company’s stock worth $3,852,000 after acquiring an additional 83,822 shares in the last quarter. Institutional investors own 85.58% 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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