Fred Alger Management Inc. purchased a new stake in shares of Mylan (NASDAQ:MYL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 18,000 shares of the company’s stock, valued at approximately $762,000.
A number of other large investors also recently added to or reduced their stakes in MYL. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Mylan during the fourth quarter valued at about $137,023,000. Schroder Investment Management Group grew its holdings in Mylan by 74.7% during the third quarter. Schroder Investment Management Group now owns 3,026,172 shares of the company’s stock valued at $93,388,000 after purchasing an additional 1,294,400 shares during the period. Bank of New York Mellon Corp grew its holdings in Mylan by 30.3% during the fourth quarter. Bank of New York Mellon Corp now owns 5,334,789 shares of the company’s stock valued at $225,715,000 after purchasing an additional 1,239,089 shares during the period. Wells Fargo & Company MN grew its holdings in Mylan by 72.9% during the fourth quarter. Wells Fargo & Company MN now owns 2,560,305 shares of the company’s stock valued at $108,326,000 after purchasing an additional 1,079,696 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Mylan by 70.8% during the third quarter. Russell Investments Group Ltd. now owns 2,584,880 shares of the company’s stock valued at $81,079,000 after purchasing an additional 1,071,089 shares during the period. 84.51% of the stock is owned by institutional investors and hedge funds.
In other Mylan news, CEO Heather M. Bresch sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $45.00, for a total transaction of $3,375,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Campbell sold 7,030 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $44.01, for a total value of $309,390.30. Following the sale, the insider now owns 17,054 shares in the company, valued at $750,546.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 344,287 shares of company stock valued at $14,409,960. 0.69% of the stock is owned by corporate insiders.
Shares of Mylan stock traded down $1.24 during trading on Thursday, reaching $39.92. The company had a trading volume of 2,350,434 shares, compared to its average volume of 5,477,013. Mylan has a 52 week low of $29.39 and a 52 week high of $47.82. The company has a market capitalization of $20,802.33, a price-to-earnings ratio of 31.35, a PEG ratio of 1.28 and a beta of 1.35. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.73 and a current ratio of 1.13.
Mylan (NASDAQ:MYL) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.02. Mylan had a return on equity of 19.14% and a net margin of 5.84%. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same period in the prior year, the company earned $1.57 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. sell-side analysts predict that Mylan will post 5.38 earnings per share for the current year.
MYL has been the subject of a number of recent analyst reports. Cantor Fitzgerald set a $41.00 price objective on Mylan and gave the stock a “hold” rating in a research note on Tuesday, December 26th. Zacks Investment Research lowered Mylan from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. UBS set a $46.00 price objective on Mylan and gave the stock a “buy” rating in a research note on Monday, December 4th. Susquehanna Bancshares reaffirmed a “positive” rating and issued a $55.00 price objective (up previously from $47.00) on shares of Mylan in a research note on Thursday, January 25th. Finally, Morgan Stanley raised Mylan from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $39.00 to $50.00 in a research note on Tuesday, March 6th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Mylan has an average rating of “Buy” and a consensus target price of $46.62.
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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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