Mylan (NASDAQ:MYL) Price Target Raised to $27.00 at SunTrust Banks
Mylan (NASDAQ:MYL) had its target price lifted by SunTrust Banks from $25.00 to $27.00 in a research note released on Thursday morning, BenzingaRatingsTable reports. They currently have a buy rating on the stock.
Other equities research analysts have also recently issued reports about the company. Cantor Fitzgerald cut their price target on Mylan from $31.00 to $18.00 and set a neutral rating for the company in a research note on Wednesday, June 12th. TheStreet cut Mylan from a c- rating to a d+ rating in a research note on Friday, August 2nd. Citigroup set a $26.00 price target on Mylan and gave the company a buy rating in a research note on Wednesday, July 31st. Mizuho boosted their price target on Mylan from $25.00 to $27.00 and gave the company a neutral rating in a research note on Tuesday, July 30th. Finally, Wolfe Research began coverage on Mylan in a research note on Friday, July 19th. They issued an outperform rating and a $27.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Mylan currently has a consensus rating of Buy and a consensus target price of $30.03.
NASDAQ MYL traded down $0.55 during trading on Thursday, reaching $21.69. 5,376,014 shares of the company’s stock were exchanged, compared to its average volume of 6,782,037. The business has a 50 day moving average price of $19.42 and a 200-day moving average price of $22.16. The stock has a market capitalization of $11.49 billion, a P/E ratio of 4.74, a PEG ratio of 1.04 and a beta of 1.80. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.37 and a quick ratio of 0.77. Mylan has a fifty-two week low of $16.63 and a fifty-two week high of $39.59.
In related news, Director Robert J. Coury acquired 49,859 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $20.06 per share, for a total transaction of $1,000,171.54. Following the completion of the acquisition, the director now directly owns 947,194 shares of the company’s stock, valued at approximately $19,000,711.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Melina E. Higgins purchased 20,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $17.68 per share, for a total transaction of $353,600.00. Following the transaction, the director now directly owns 33,120 shares of the company’s stock, valued at approximately $585,561.60. The disclosure for this purchase can be found here. Insiders have acquired 83,859 shares of company stock valued at $1,628,752 over the last 90 days. Corporate insiders own 0.81% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Mylan in the 2nd quarter worth about $804,000. Oregon Public Employees Retirement Fund boosted its position in shares of Mylan by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 228,250 shares of the company’s stock valued at $6,469,000 after acquiring an additional 3,957 shares during the last quarter. Stephens Inc. AR lifted its position in Mylan by 10.1% in the first quarter. Stephens Inc. AR now owns 13,378 shares of the company’s stock valued at $379,000 after buying an additional 1,231 shares during the last quarter. ARGA Investment Management LP lifted its position in shares of Mylan by 75.5% during the second quarter. ARGA Investment Management LP now owns 182,898 shares of the company’s stock worth $3,482,000 after purchasing an additional 78,698 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of Mylan by 271.8% during the second quarter. Signaturefd LLC now owns 3,376 shares of the company’s stock worth $64,000 after buying an additional 2,468 shares during the period. 84.78% of the stock is currently owned by institutional investors.
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.
Further Reading: Sell-Side Analysts
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