Trade Report: The Mylan Inc. (MYL) Earns “Buy” Rating from BTIG Research

The Mylan Inc. (MYL) Earns “Buy” Rating from BTIG Research

BTIG Research reissued their buy rating on shares of Mylan Inc. (NASDAQ:MYL) in a research report released on Monday morning. The firm currently has a $55.00 target price on the stock.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Co. set a $44.00 target price on shares of Mylan and gave the company a hold rating in a report on Sunday, September 4th. Leerink Swann set a $45.00 price target on shares of Mylan and gave the stock a buy rating in a report on Saturday, October 1st. Morgan Stanley reissued a hold rating on shares of Mylan in a report on Tuesday, July 12th. TheStreet lowered shares of Mylan from a buy rating to a hold rating in a report on Wednesday, September 28th. Finally, RBC Capital Markets reissued a sector perform rating and issued a $48.00 price target on shares of Mylan in a report on Monday. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $53.49.

Mylan (NASDAQ:MYL) opened at 37.07 on Monday. The firm has a market cap of $19.83 billion, a price-to-earnings ratio of 23.46 and a beta of 1.14. The stock’s 50 day moving average is $40.47 and its 200 day moving average is $44.02. Mylan has a one year low of $35.58 and a one year high of $55.51.

Mylan (NASDAQ:MYL) last released its earnings results on Tuesday, August 9th. The company reported $1.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.03. Mylan had a net margin of 8.11% and a return on equity of 23.22%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the firm earned $0.91 EPS. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, analysts predict that Mylan will post $4.95 earnings per share for the current fiscal year.

In other news, CEO Heather M. Bresch sold 100,200 shares of Mylan stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $50.00, for a total value of $5,010,000.00. Following the completion of the sale, the chief executive officer now directly owns 828,318 shares in the company, valued at $41,415,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.71% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. raised its stake in shares of Mylan by 2.0% in the first quarter. Prudential Financial Inc. now owns 504,859 shares of the company’s stock worth $23,400,000 after buying an additional 10,030 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new stake in shares of Mylan during the first quarter worth approximately $2,656,000. Canada Pension Plan Investment Board raised its stake in shares of Mylan by 85.3% in the first quarter. Canada Pension Plan Investment Board now owns 10,425 shares of the company’s stock worth $483,000 after buying an additional 4,800 shares in the last quarter. BB&T Securities LLC raised its stake in shares of Mylan by 480.2% in the first quarter. BB&T Securities LLC now owns 84,693 shares of the company’s stock worth $3,925,000 after buying an additional 70,095 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its stake in shares of Mylan by 147.5% in the first quarter. Rafferty Asset Management LLC now owns 78,716 shares of the company’s stock worth $3,648,000 after buying an additional 46,911 shares in the last quarter. Hedge funds and other institutional investors own 60.20% of the company’s stock.

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