Fred Alger Management Inc. bought a new position in shares of Mylan (NASDAQ:MYL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,000 shares of the company’s stock, valued at approximately $762,000.
Other large investors have also modified their holdings of the company. Toronto Dominion Bank boosted its holdings in Mylan by 28.2% during the third quarter. Toronto Dominion Bank now owns 200,017 shares of the company’s stock worth $6,274,000 after buying an additional 43,943 shares in the last quarter. Rhumbline Advisers boosted its stake in Mylan by 7.2% in the 3rd quarter. Rhumbline Advisers now owns 791,463 shares of the company’s stock worth $24,828,000 after purchasing an additional 53,154 shares during the period. Hexavest Inc. boosted its stake in Mylan by 1.7% in the 4th quarter. Hexavest Inc. now owns 1,435,251 shares of the company’s stock worth $60,725,000 after purchasing an additional 23,353 shares during the period. UBS Asset Management Americas Inc. boosted its stake in Mylan by 2.7% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,339,327 shares of the company’s stock worth $56,667,000 after purchasing an additional 35,360 shares during the period. Finally, AMP Capital Investors Ltd boosted its stake in Mylan by 82.0% in the 3rd quarter. AMP Capital Investors Ltd now owns 642,574 shares of the company’s stock worth $20,158,000 after purchasing an additional 289,485 shares during the period. Hedge funds and other institutional investors own 84.52% of the company’s stock.
In other news, Director Robert J. Coury sold 150,000 shares of the firm’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $40.10, for a total transaction of $6,015,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul Campbell sold 7,030 shares of the firm’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $44.01, for a total transaction of $309,390.30. Following the transaction, the insider now owns 17,054 shares in the company, valued at approximately $750,546.54. The disclosure for this sale can be found here. Insiders have sold a total of 344,287 shares of company stock worth $14,409,960 in the last 90 days. 0.69% of the stock is owned by insiders.
MYL stock opened at $39.52 on Friday. Mylan has a 12-month low of $29.39 and a 12-month high of $47.82. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.13 and a quick ratio of 0.73. The company has a market capitalization of $21,003.09, a price-to-earnings ratio of 8.67, a P/E/G ratio of 1.30 and a beta of 1.34.
Mylan (NASDAQ:MYL) last released its earnings results on Wednesday, February 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.02. The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.29 billion. Mylan had a net margin of 5.84% and a return on equity of 19.14%. The company’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.57 EPS. research analysts expect that Mylan will post 5.38 earnings per share for the current fiscal year.
A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of Mylan from a “sell” rating to a “hold” rating in a research note on Tuesday, January 16th. Deutsche Bank set a $50.00 price objective on shares of Mylan and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Wells Fargo set a $43.00 price objective on shares of Mylan and gave the stock a “hold” rating in a research note on Thursday, January 18th. TheStreet raised shares of Mylan from a “c” rating to a “b-” rating in a research note on Wednesday, January 17th. Finally, 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. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $47.02.
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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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