MYL has reached a $465 million settlement with the Department of Justice on EpiPen. This removes the overhang.
MYL now expects 2016 earnings in the range of $4.70 to $4.90 per share excluding items. Prior guidance was $4.85 to $5.15.
MYL also reaffirmed 2018 target of $6.00 per share.
The point here is that at about 7 forward PE, the stock is very cheap for the long-term investor.
The new buy zone is $35 to $39.56. Target zone remains $48 to $49.
What To Do Now
Those in the stock may continue to hold.