Mylan’s (NASDAQ:MYL) Buy Rating Reiterated at Citigroup
Mylan (NASDAQ:MYL)‘s stock had its “buy” rating reissued by research analysts at Citigroup in a research report issued on Thursday, January 4th, MarketBeat Ratings reports. They currently have a $58.00 price target on the stock, up from their prior price target of $48.00. Citigroup’s price objective would suggest a potential upside of 29.90% from the company’s previous close.
A number of other equities research analysts have also commented on the company. Zacks Investment Research lowered Mylan from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Cantor Fitzgerald set a $34.00 target price on Mylan and gave the company a “hold” rating in a research report on Tuesday, October 31st. Guggenheim assumed coverage on Mylan in a research report on Tuesday, December 12th. They set a “buy” rating and a $59.00 target price for the company. Mizuho reaffirmed a “buy” rating and set a $37.00 target price on shares of Mylan in a research report on Tuesday, October 24th. Finally, Leerink Swann assumed coverage on Mylan in a research report on Tuesday, January 2nd. They set a “market perform” rating and a $44.00 target price for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Mylan presently has a consensus rating of “Buy” and an average price target of $44.65.
Shares of Mylan (MYL) traded down $1.33 during trading hours on Thursday, hitting $44.65. The stock had a trading volume of 2,254,689 shares, compared to its average volume of 5,785,216. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.46 and a quick ratio of 0.95. Mylan has a one year low of $29.39 and a one year high of $47.82. The firm has a market capitalization of $24,783.36, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 1.25 and a beta of 1.38.
In other news, CEO Heather M. Bresch sold 75,000 shares of Mylan stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $45.00, for a total transaction of $3,375,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.69% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in MYL. Meeder Asset Management Inc. raised its holdings in shares of Mylan by 76.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,393 shares of the company’s stock valued at $106,000 after buying an additional 1,475 shares in the last quarter. BT Investment Management Ltd purchased a new position in shares of Mylan during the 3rd quarter valued at about $142,000. Doliver Capital Advisors LP purchased a new position in shares of Mylan during the 2nd quarter valued at about $201,000. First Personal Financial Services raised its holdings in shares of Mylan by 77.1% during the 4th quarter. First Personal Financial Services now owns 4,839 shares of the company’s stock valued at $205,000 after buying an additional 2,106 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC purchased a new position in Mylan in the 2nd quarter worth approximately $210,000. 75.10% of the stock is currently owned by institutional investors.
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Mylan N.V. is a global pharmaceutical company. The Company develops, licenses, manufactures, markets and distributes generic and branded generic products for resale by others; specialty pharmaceuticals, and active pharmaceutical ingredients (APIs). It operates through two segments: Generics and Specialty.
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