Wolfe Research Begins Coverage on Mylan (NASDAQ:MYL)

Wolfe Research initiated coverage on shares of Mylan (NASDAQ:MYL) in a research report released on Friday morning, Briefing.com Automated Import reports. The brokerage issued an outperform rating on the stock.

A number of other brokerages also recently commented on MYL. Morgan Stanley set a $70.00 target price on shares of Edison International and gave the stock a hold rating in a research note on Monday, July 15th. Zacks Investment Research downgraded shares of German American Bancorp. from a buy rating to a hold rating in a research note on Tuesday, April 30th. UBS Group reduced their target price on shares of Mylan to $23.00 and set a neutral rating on the stock in a research note on Tuesday, May 28th. Wells Fargo & Co downgraded shares of Mylan from an outperform rating to a market perform rating and reduced their target price for the stock from $33.00 to $22.00 in a research note on Tuesday, May 7th. Finally, Raymond James set a $31.00 target price on shares of Mylan and gave the stock a buy rating in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $33.65.

MYL opened at $18.10 on Friday. The company has a current ratio of 1.51, a quick ratio of 0.85 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $9.33 billion, a P/E ratio of 3.95, a price-to-earnings-growth ratio of 0.94 and a beta of 1.76. Mylan has a 52-week low of $16.63 and a 52-week high of $39.59. The firm’s fifty day moving average is $18.28.



Mylan (NASDAQ:MYL) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.03. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.70 billion. Mylan had a net margin of 2.14% and a return on equity of 18.96%. The company’s revenue was down 7.0% compared to the same quarter last year. During the same period last year, the firm posted $0.96 earnings per share. As a group, sell-side analysts expect that Mylan will post 4.26 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC increased its position in shares of Mylan by 107.1% during the first quarter. Global Retirement Partners LLC now owns 967 shares of the company’s stock valued at $27,000 after acquiring an additional 500 shares during the last quarter. Pinnacle Bank grew its holdings in shares of Mylan by 66.4% in the first quarter. Pinnacle Bank now owns 1,060 shares of the company’s stock valued at $30,000 after purchasing an additional 423 shares in the last quarter. Mascoma Wealth Management LLC acquired a new position in shares of Mylan in the first quarter valued at approximately $47,000. NuWave Investment Management LLC grew its holdings in shares of Mylan by 1,111.0% in the second quarter. NuWave Investment Management LLC now owns 2,192 shares of the company’s stock valued at $42,000 after purchasing an additional 2,011 shares in the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new position in shares of Mylan in the first quarter valued at approximately $87,000. Institutional investors and hedge funds own 83.77% 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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