Comerica Bank reduced its holdings in shares of Mylan NV (NASDAQ:MYL) by 20.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 92,267 shares of the company’s stock after selling 23,828 shares during the period. Comerica Bank’s holdings in Mylan were worth $2,963,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in MYL. Bank of New York Mellon Corp increased its position in shares of Mylan by 32.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,408,218 shares of the company’s stock valued at $340,012,000 after purchasing an additional 2,284,545 shares during the last quarter. Bank of Montreal Can grew its position in shares of Mylan by 605.0% in the 3rd quarter. Bank of Montreal Can now owns 2,193,264 shares of the company’s stock valued at $80,274,000 after buying an additional 1,882,157 shares during the last quarter. Orbimed Advisors LLC grew its position in shares of Mylan by 77.7% in the 2nd quarter. Orbimed Advisors LLC now owns 3,702,800 shares of the company’s stock valued at $133,819,000 after buying an additional 1,618,500 shares during the last quarter. Kornitzer Capital Management Inc. KS purchased a new position in shares of Mylan in the 2nd quarter valued at $38,614,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its position in shares of Mylan by 522.2% in the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,131,937 shares of the company’s stock valued at $40,908,000 after buying an additional 950,000 shares during the last quarter. 81.91% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on the stock. Cowen reaffirmed a “hold” rating and issued a $31.00 target price on shares of Mylan in a research report on Thursday, August 9th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Mylan in a research report on Wednesday, August 15th. Raymond James cut shares of Mylan from a “strong-buy” rating to an “outperform” rating in a research note on Thursday, August 9th. ValuEngine cut shares of Mylan from a “hold” rating to a “sell” rating in a research note on Tuesday, September 11th. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $41.00 price target on shares of Mylan in a research note on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $46.56.
Mylan (NASDAQ:MYL) last released its earnings results 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 net margin of 4.71% and a return on equity of 19.39%. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter last year, the business earned $1.10 EPS. The business’s revenue was down 4.2% on a year-over-year basis. As a group, research analysts expect that Mylan NV will post 4.66 EPS for the current year.
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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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