Hexavest Inc. raised its position in shares of Mylan (NASDAQ:MYL) by 4.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,441,535 shares of the company’s stock after buying an additional 66,807 shares during the period. Hexavest Inc. owned approximately 0.27% of Mylan worth $56,205,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in MYL. State Street Corp raised its stake in Mylan by 7.8% in the fourth quarter. State Street Corp now owns 19,942,043 shares of the company’s stock worth $760,788,000 after buying an additional 1,446,244 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its stake in Mylan by 31.2% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,970,200 shares of the company’s stock worth $227,763,000 after buying an additional 1,420,000 shares during the period. Northern Trust Corp raised its stake in Mylan by 2.2% in the third quarter. Northern Trust Corp now owns 5,304,333 shares of the company’s stock worth $202,201,000 after buying an additional 114,280 shares during the period. Norges Bank purchased a new stake in Mylan during the fourth quarter worth $166,189,000. Finally, Camber Capital Management LLC raised its stake in Mylan by 7.0% in the fourth quarter. Camber Capital Management LLC now owns 4,145,889 shares of the company’s stock worth $158,166,000 after buying an additional 272,889 shares during the period. Institutional investors own 60.89% of the company’s stock.
Shares of Mylan (NASDAQ:MYL) traded up 0.32% during midday trading on Thursday, hitting $37.08. 3,597,041 shares of the stock were exchanged. The firm has a 50-day moving average of $41.04 and a 200-day moving average of $38.69. The company has a market capitalization of $19.86 billion, a P/E ratio of 40.30 and a beta of 1.14. Mylan has a 1-year low of $33.60 and a 1-year high of $50.40.
Mylan (NASDAQ:MYL) last posted its quarterly earnings data on Wednesday, March 1st. The company reported $1.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.15. Mylan had a net margin of 2.50% and a return on equity of 22.04%. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the previous year, the business posted $1.22 earnings per share. On average, equities analysts expect that Mylan will post $5.30 EPS for the current year.
A number of research firms recently weighed in on MYL. Wells Fargo & Co reaffirmed a “market perform” rating and set a $40.00 target price on shares of Mylan in a report on Friday, April 14th. Guggenheim reaffirmed a “neutral” rating on shares of Mylan in a report on Thursday, January 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $48.00 target price on shares of Mylan in a report on Thursday, March 30th. Mizuho reaffirmed a “buy” rating and set a $47.00 target price on shares of Mylan in a report on Tuesday, February 28th. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $52.00 target price on shares of Mylan in a report on Monday, March 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $51.96.
In other Mylan news, major shareholder Laboratories Abbott sold 44,000,000 shares of the business’s stock in a transaction on Thursday, March 23rd. The shares were sold at an average price of $41.60, for a total transaction of $1,830,400,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.71% of the company’s stock.
Mylan Company Profile
Mylan N.V. is a global pharmaceutical company. The Company develops, licenses, manufactures, markets and distributes generic and branded generic products for resale by others; specialty pharmaceuticals, and active pharmaceutical ingredients (APIs). It operates through two segments: Generics and Specialty.
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