Mylan (MYL) Given a $32.00 Price Target by Morgan Stanley Analysts

Morgan Stanley set a $32.00 target price on Mylan (NASDAQ:MYL) in a report published on Wednesday morning, Stock Target Advisor reports. The firm currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the company. Cantor Fitzgerald restated a hold rating and set a $41.00 price target on shares of Mylan in a report on Monday, April 1st. BidaskClub upgraded Mylan from a strong sell rating to a sell rating in a report on Tuesday, April 30th. Royal Bank of Canada dropped their price objective on Mylan to $26.00 and set an outperform rating on the stock in a research report on Wednesday. BTIG Research dropped their price objective on Mylan to $35.00 and set a buy rating on the stock in a research report on Wednesday, February 27th. Finally, Zacks Investment Research raised Mylan from a strong sell rating to a hold rating in a research report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $37.35.

Shares of NASDAQ:MYL traded down $0.59 on Wednesday, hitting $22.17. 7,773,379 shares of the company traded hands, compared to its average volume of 7,932,757. Mylan has a 52 week low of $21.23 and a 52 week high of $42.50. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.51 and a quick ratio of 0.83. The company has a market capitalization of $11.73 billion, a PE ratio of 4.84, a PEG ratio of 1.02 and a beta of 1.44.

Mylan (NASDAQ:MYL) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.03. Mylan had a return on equity of 18.96% and a net margin of 2.14%. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period last year, the company earned $0.96 earnings per share. The company’s revenue was down 7.0% on a year-over-year basis. On average, sell-side analysts anticipate that Mylan will post 4.28 earnings per share for the current fiscal year.

In related news, insider Paul Campbell sold 11,533 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $27.50, for a total transaction of $317,157.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.81% of the company’s stock.

Large investors have recently made changes to their positions in the business. Martingale Asset Management L P purchased a new position in Mylan in the fourth quarter worth about $1,877,000. Investors Research Corp bought a new position in shares of Mylan in the first quarter worth about $186,000. First Hawaiian Bank raised its stake in shares of Mylan by 560.4% in the fourth quarter. First Hawaiian Bank now owns 2,886 shares of the company’s stock worth $79,000 after buying an additional 2,449 shares during the period. Piedmont Investment Advisors Inc. bought a new position in shares of Mylan in the fourth quarter worth about $210,000. Finally, NumerixS Investment Technologies Inc bought a new position in shares of Mylan in the fourth quarter worth about $446,000. 83.45% of the stock is currently owned by institutional investors and hedge funds.

About Mylan

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.

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