The Mylan Inc. (MYL) Lifted to Strong-Buy at Raymond James Financial Inc.

The Mylan Inc. (MYL) Lifted to Strong-Buy at Raymond James Financial Inc.

Raymond James Financial Inc. upgraded shares of Mylan Inc. (NASDAQ:MYL) from a market perform rating to a strong-buy rating in a report issued on Monday. They currently have $57.00 price target on the stock.

Other research analysts also recently issued research reports about the company. BTIG Research reiterated a buy rating and issued a $60.00 price objective on shares of Mylan in a report on Tuesday, August 30th. Zacks Investment Research upgraded Mylan from a hold rating to a buy rating and set a $49.00 price objective on the stock in a report on Tuesday, July 5th. Bank of America Corp. reiterated a buy rating and issued a $70.00 price objective on shares of Mylan in a report on Wednesday, August 24th. TheStreet upgraded Mylan from a hold rating to a buy rating in a report on Friday, August 12th. Finally, Deutsche Bank AG set a $58.00 price target on Mylan and gave the stock a buy rating in a research note on Friday, September 23rd. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. 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 50-day moving average price of $40.47 and a 200-day moving average price of $44.02. Mylan has a one year low of $35.58 and a one year high of $55.51. The firm has a market capitalization of $19.83 billion, a P/E ratio of 23.46 and a beta of 1.14.

Mylan (NASDAQ:MYL) last released its quarterly earnings data on Tuesday, August 9th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.03. Mylan had a return on equity of 23.22% and a net margin of 8.11%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the prior year, the business posted $0.91 EPS. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. Equities analysts anticipate that Mylan will post $4.95 earnings per share for the current year.

In related news, CEO Heather M. Bresch sold 100,200 shares of Mylan stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $50.00, for a total transaction of $5,010,000.00. Following the completion of the transaction, the chief executive officer now directly owns 828,318 shares of the company’s stock, valued at $41,415,900. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.71% of the company’s stock.

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

Mylan Company Profile

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