Mylan (MYL) Upgraded by Wells Fargo & Co to “Buy”

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Wells Fargo & Co upgraded shares of Mylan (NASDAQ:MYL) from a market perform rating to a buy rating in a report released on Tuesday morning, The Fly reports. The firm currently has $40.00 price objective on the stock.

MYL has been the topic of several other research reports. Morgan Stanley lowered Mylan from an overweight rating to an equal weight rating and lowered their price objective for the stock from $46.00 to $36.00 in a research report on Tuesday, October 9th. Raymond James lowered Mylan from a strong-buy rating to an outperform rating in a research report on Thursday, August 9th. Royal Bank of Canada upgraded Mylan from a sector perform rating to an outperform rating and set a $53.00 price objective on the stock in a research report on Monday, August 13th. BidaskClub upgraded Mylan from a sell rating to a hold rating in a research report on Wednesday, August 1st. Finally, Cantor Fitzgerald restated a hold rating and issued a $41.00 price objective on shares of Mylan in a research report on Monday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $46.87.

Mylan stock traded down $0.20 during mid-day trading on Tuesday, hitting $36.95. The company had a trading volume of 322,957 shares, compared to its average volume of 6,361,761. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 1.10. Mylan has a 12-month low of $30.33 and a 12-month high of $47.82. The firm has a market cap of $18.78 billion, a PE ratio of 8.12, a P/E/G ratio of 1.17 and a beta of 1.53.

Mylan (NASDAQ:MYL) last released its quarterly earnings data on Monday, November 5th. The company reported $1.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.06. Mylan had a return on equity of 19.39% and a net margin of 4.71%. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same quarter in the prior year, the firm posted $1.10 EPS. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts forecast that Mylan will post 4.68 EPS for the current year.

Large investors have recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its position in shares of Mylan by 5.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 74,135 shares of the company’s stock valued at $2,712,000 after buying an additional 3,707 shares in the last quarter. Bellevue Group AG lifted its position in shares of Mylan by 114.7% during the 2nd quarter. Bellevue Group AG now owns 502,350 shares of the company’s stock valued at $18,155,000 after buying an additional 268,400 shares in the last quarter. Burney Co. lifted its position in shares of Mylan by 18.4% during the 2nd quarter. Burney Co. now owns 128,245 shares of the company’s stock valued at $4,635,000 after buying an additional 19,914 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Mylan by 12.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,237,468 shares of the company’s stock valued at $80,863,000 after buying an additional 253,082 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Mylan by 16.7% during the 2nd quarter. Van ECK Associates Corp now owns 315,905 shares of the company’s stock valued at $11,417,000 after buying an additional 45,277 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

About Mylan

Mylan N.V., together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic, brand name, and over-the-counter (OTC) products worldwide. The company operates through three segments: North America, Europe, and Rest of World. It offers pharmaceutical products in tablet, capsule, injectable, transdermal patch, gel, nebulized, and cream or ointment forms.

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