Mylan Inc. (MYL) Shares Sold by Bank of New York Mellon Corp
Bank of New York Mellon Corp reduced its stake in shares of Mylan Inc. (NASDAQ:MYL) by 2.1% during the third quarter, Holdings Channel reports. The fund owned 7,897,872 shares of the company’s stock after selling 168,223 shares during the period. Bank of New York Mellon Corp’s holdings in Mylan were worth $301,066,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of MYL. Nuveen Asset Management LLC increased its position in Mylan by 22.5% in the first quarter. Nuveen Asset Management LLC now owns 36,195 shares of the company’s stock worth $1,678,000 after buying an additional 6,636 shares in the last quarter. LPL Financial LLC increased its position in Mylan by 21.8% in the first quarter. LPL Financial LLC now owns 45,698 shares of the company’s stock worth $2,098,000 after buying an additional 8,170 shares in the last quarter. Arizona State Retirement System increased its position in Mylan by 2.3% in the first quarter. Arizona State Retirement System now owns 111,808 shares of the company’s stock worth $5,182,000 after buying an additional 2,500 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Mylan during the first quarter worth about $1,994,000. Finally, Integrated Investment Consultants LLC purchased a new position in Mylan during the second quarter worth about $145,000. 60.29% of the stock is owned by institutional investors and hedge funds.
Shares of Mylan Inc. (NASDAQ:MYL) opened at 36.74 on Tuesday. Mylan Inc. has a 12 month low of $33.60 and a 12 month high of $55.51. The company has a market cap of $19.66 billion, a P/E ratio of 73.63 and a beta of 1.10. The firm has a 50-day moving average price of $37.27 and a 200 day moving average price of $42.19.
Mylan (NASDAQ:MYL) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $1.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.45 by $0.07. Mylan had a net margin of 2.50% and a return on equity of 22.04%. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the previous year, the firm earned $1.43 earnings per share. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. Equities analysts predict that Mylan Inc. will post $4.76 earnings per share for the current year.
A number of equities research analysts have recently commented on the company. Leerink Swann lifted their target price on Mylan from $51.00 to $55.00 and gave the stock an “outperform” rating in a research note on Monday, August 15th. TheStreet upgraded Mylan from a “hold” rating to a “buy” rating in a research note on Friday, August 12th. Zacks Investment Research cut Mylan from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Bank of America Corp. restated a “buy” rating and issued a $70.00 price objective on shares of Mylan in a research note on Wednesday, August 24th. Finally, BTIG Research restated a “buy” rating and issued a $60.00 price objective on shares of Mylan in a research note on Tuesday, August 30th. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $52.83.
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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