Pendal Group Ltd Acquires 167,129 Shares of Mylan NV (NASDAQ:MYL)

Pendal Group Ltd grew its holdings in Mylan NV (NASDAQ:MYL) by 204.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 248,975 shares of the company’s stock after purchasing an additional 167,129 shares during the period. Pendal Group Ltd’s holdings in Mylan were worth $4,740,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of MYL. State of New Jersey Common Pension Fund D boosted its stake in shares of Mylan by 194.0% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 1,700,000 shares of the company’s stock worth $48,178,000 after buying an additional 1,121,745 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Mylan by 15.0% in the 4th quarter. Geode Capital Management LLC now owns 7,875,204 shares of the company’s stock worth $215,460,000 after buying an additional 1,026,731 shares during the last quarter. Ion Asset Management Ltd. boosted its stake in shares of Mylan by 67.6% in the 2nd quarter. Ion Asset Management Ltd. now owns 2,247,231 shares of the company’s stock worth $42,787,000 after buying an additional 906,555 shares during the last quarter. FIL Ltd boosted its stake in shares of Mylan by 14.1% in the 1st quarter. FIL Ltd now owns 6,468,868 shares of the company’s stock worth $183,327,000 after buying an additional 799,051 shares during the last quarter. Finally, Sector Gamma AS purchased a new position in shares of Mylan in the 1st quarter worth $22,408,000. 83.54% of the stock is owned by institutional investors and hedge funds.

NASDAQ:MYL traded down $1.76 on Wednesday, reaching $17.96. 569,546 shares of the company’s stock traded hands, compared to its average volume of 6,962,400. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.77 and a current ratio of 1.37. The stock’s 50-day moving average is $19.13. The stock has a market capitalization of $10.05 billion, a price-to-earnings ratio of 3.99, a PEG ratio of 0.92 and a beta of 1.77. Mylan NV has a 12 month low of $16.63 and a 12 month high of $39.59.

Mylan (NASDAQ:MYL) last posted its quarterly earnings results on Monday, July 29th. The company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.08. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Mylan had a return on equity of 18.93% and a net margin of 0.30%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the firm earned $1.07 earnings per share. As a group, sell-side analysts expect that Mylan NV will post 4.3 EPS for the current year.

In other news, Director Robert J. Coury bought 49,859 shares of Mylan stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of $20.06 per share, with a total value of $1,000,171.54. Following the completion of the acquisition, the director now owns 947,194 shares of the company’s stock, valued at approximately $19,000,711.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard A. Mark bought 4,000 shares of Mylan stock in a transaction dated Wednesday, July 31st. The stock was purchased at an average cost of $20.97 per share, for a total transaction of $83,880.00. Following the completion of the acquisition, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $83,880. The disclosure for this purchase can be found here. 0.82% of the stock is owned by company insiders.

A number of research firms have recently issued reports on MYL. Evercore ISI restated a “buy” rating on shares of Mylan in a research note on Friday, August 9th. Morgan Stanley restated an “overweight” rating and issued a $25.00 price target (up from $22.00) on shares of Mylan in a research note on Tuesday, July 30th. Zacks Investment Research upgraded Mylan from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Credit Suisse Group reiterated a “buy” rating and set a $34.50 target price on shares of Mylan in a research report on Wednesday, July 31st. Finally, Cantor Fitzgerald lowered their target price on Mylan from $31.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $30.43.

Mylan Company Profile

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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Institutional Ownership by Quarter for Mylan (NASDAQ:MYL)

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