Mylan (MYL) Given a $31.00 Price Target by Raymond James Analysts

Mylan (NASDAQ:MYL) has been assigned a $31.00 target price by equities researchers at Raymond James in a research report issued to clients and investors on Wednesday, Stock Target Advisor reports. The firm presently has a “buy” rating on the stock. Raymond James’ price target indicates a potential upside of 36.20% from the company’s previous close.

MYL has been the subject of a number of other reports. Zacks Investment Research raised Mylan from a “hold” rating to a “strong-buy” rating and set a $34.00 price target for the company in a research note on Monday, January 21st. UBS Group lowered Mylan from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $54.00 to $32.00 in a research note on Wednesday, January 23rd. Credit Suisse Group reissued a “buy” rating and set a $37.00 price objective on shares of Mylan in a research note on Wednesday, March 6th. Morgan Stanley raised Mylan from an “equal weight” rating to an “overweight” rating and set a $35.00 price objective for the company in a research note on Wednesday, March 6th. They noted that the move was a valuation call. Finally, SunTrust Banks assumed coverage on Mylan in a research note on Tuesday, March 19th. They set a “buy” rating and a $35.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $37.35.

Shares of NASDAQ MYL opened at $22.76 on Wednesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.39 and a quick ratio of 0.83. The firm has a market cap of $14.57 billion, a price-to-earnings ratio of 4.97, a PEG ratio of 1.18 and a beta of 1.44. Mylan has a 1 year low of $21.23 and a 1 year high of $42.50.

Mylan (NASDAQ:MYL) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.70 billion. Mylan had a return on equity of 19.06% and a net margin of 3.08%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the company posted $0.96 EPS. Equities research analysts forecast that Mylan will post 4.38 earnings per share for the current year.

In other news, insider Paul Campbell sold 11,533 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $27.50, for a total value of $317,157.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.81% of the company’s stock.

Several institutional investors have recently modified their holdings of MYL. Global Retirement Partners LLC boosted its position in shares of Mylan by 107.1% in the first 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 boosted its position in shares of Mylan by 66.4% in the first 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. Mascoma Wealth Management LLC acquired a new stake in shares of Mylan in the first quarter worth $47,000. Kinneret Advisory LLC acquired a new stake in shares of Mylan in the fourth quarter worth $71,000. Finally, First Hawaiian Bank boosted its position in shares of Mylan by 560.4% in the fourth quarter. First Hawaiian Bank now owns 2,886 shares of the company’s stock worth $79,000 after buying an additional 2,449 shares during the period. 83.45% of the stock is owned by institutional investors and hedge funds.

About Mylan

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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