Northern Capital Management LLC Takes Position in Mylan (MYL)
Northern Capital Management LLC purchased a new stake in shares of Mylan (NASDAQ:MYL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,400 shares of the company’s stock, valued at approximately $522,000.
Several other institutional investors have also modified their holdings of MYL. Kernodle & Katon Asset Management Group LLC raised its position in shares of Mylan by 4.7% in the third quarter. Kernodle & Katon Asset Management Group LLC now owns 2,884 shares of the company’s stock valued at $110,000 after buying an additional 129 shares during the last quarter. Mosaic Family Wealth LLC raised its position in shares of Mylan by 12.5% in the third quarter. Mosaic Family Wealth LLC now owns 3,600 shares of the company’s stock valued at $137,000 after buying an additional 400 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Mylan during the first quarter valued at about $188,000. Legacy Private Trust Co. acquired a new position in shares of Mylan during the first quarter valued at about $202,000. Finally, Zweig DiMenna Associates LLC acquired a new position in shares of Mylan during the third quarter valued at about $221,000. Institutional investors own 60.89% of the company’s stock.
Shares of Mylan (NASDAQ:MYL) traded down 0.67% during mid-day trading on Friday, reaching $36.83. The company had a trading volume of 3,876,749 shares. The company has a market capitalization of $19.72 billion, a P/E ratio of 40.03 and a beta of 1.14. The firm has a 50-day moving average of $40.82 and a 200-day moving average of $38.68. Mylan has a 12-month low of $33.60 and a 12-month high of $50.40.
Mylan (NASDAQ:MYL) last announced its quarterly earnings results on Wednesday, March 1st. The company reported $1.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.15. The company earned $3.27 billion during the quarter, compared to the consensus estimate of $3.18 billion. Mylan had a net margin of 2.50% and a return on equity of 22.04%. During the same quarter last year, the firm earned $1.22 earnings per share. On average, equities analysts anticipate that Mylan will post $5.29 earnings per share for the current fiscal year.
Several equities analysts have recently issued reports on MYL shares. BTIG Research reiterated a “buy” rating and issued a $55.00 price target on shares of Mylan in a research note on Tuesday, January 3rd. Vetr downgraded Mylan from a “strong-buy” rating to a “buy” rating and set a $42.20 price objective on the stock. in a report on Monday, January 2nd. Mizuho reissued a “buy” rating and set a $47.00 price objective on shares of Mylan in a report on Tuesday, February 28th. Deutsche Bank AG cut their price objective on Mylan from $52.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Barclays PLC reissued an “equal weight” rating and set a $47.00 price objective (up previously from $44.00) on shares of Mylan in a report on Saturday, March 11th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Mylan presently has an average rating of “Buy” and a consensus price target of $51.96.
In related news, major shareholder Laboratories Abbott sold 44,000,000 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.71% of the stock is owned by company insiders.
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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