Nomura Asset Management Co. Ltd. boosted its stake in Mylan (NASDAQ:MYL) by 5.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,163 shares of the company’s stock after buying an additional 3,606 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Mylan were worth $3,053,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Rational Advisors LLC acquired a new position in Mylan in the fourth quarter worth $190,000. First Personal Financial Services raised its position in shares of Mylan by 77.1% during the fourth quarter. First Personal Financial Services now owns 4,839 shares of the company’s stock worth $205,000 after acquiring an additional 2,106 shares during the last quarter. Lombard Odier Asset Management Europe Ltd bought a new stake in shares of Mylan during the fourth quarter worth $209,000. Mycio Wealth Partners LLC bought a new stake in shares of Mylan during the fourth quarter worth $212,000. Finally, Advisor Partners LLC bought a new stake in shares of Mylan during the fourth quarter worth $214,000. 84.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ MYL opened at $39.52 on Friday. The company has a market cap of $21,003.09, a PE ratio of 8.67, a PEG ratio of 1.30 and a beta of 1.34. 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 has a 1-year low of $29.39 and a 1-year high of $47.82.
Mylan (NASDAQ:MYL) last announced its earnings results on Wednesday, February 28th. The company reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter last year, the company earned $1.57 earnings per share. The firm’s quarterly revenue was down .9% compared to the same quarter last year. equities research analysts predict that Mylan will post 5.38 earnings per share for the current year.
In other Mylan news, President Rajiv Malik sold 50,000 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $40.91, for a total value of $2,045,500.00. Following the sale, the president now owns 503,751 shares of the company’s stock, valued at approximately $20,608,453.41. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Heather M. Bresch sold 75,000 shares of the firm’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $45.00, for a total value of $3,375,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 344,287 shares of company stock worth $14,409,960. Corporate insiders own 0.69% of the company’s stock.
A number of equities research analysts recently commented on MYL shares. Guggenheim started coverage on Mylan in a report on Tuesday, December 12th. They issued a “buy” rating and a $59.00 price objective for the company. BidaskClub upgraded Mylan from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 19th. Cantor Fitzgerald set a $41.00 price objective on Mylan and gave the company a “hold” rating in a report on Tuesday, December 26th. Leerink Swann initiated coverage on Mylan in a research note on Tuesday, January 2nd. They issued a “market perform” rating and a $44.00 target price for the company. Finally, Citigroup reissued a “buy” rating and issued a $58.00 target price (up from $48.00) on shares of Mylan in a research note on Thursday, January 4th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $47.02.
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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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