Synovus Financial Corp boosted its stake in Mylan NV (NASDAQ:MYL) by 6.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,062 shares of the company’s stock after buying an additional 2,057 shares during the period. Synovus Financial Corp’s holdings in Mylan were worth $1,249,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Bank of New York Mellon Corp increased its position in Mylan by 32.1% in the second quarter. Bank of New York Mellon Corp now owns 9,408,218 shares of the company’s stock worth $340,012,000 after buying an additional 2,284,545 shares during the period. FMR LLC increased its holdings in shares of Mylan by 1.9% during the second quarter. FMR LLC now owns 9,171,840 shares of the company’s stock valued at $331,470,000 after purchasing an additional 168,347 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Mylan by 2.7% during the second quarter. Janus Henderson Group PLC now owns 5,389,463 shares of the company’s stock valued at $194,776,000 after purchasing an additional 144,075 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Mylan by 14.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,132,430 shares of the company’s stock valued at $185,499,000 after purchasing an additional 644,643 shares during the period. Finally, Orbimed Advisors LLC increased its holdings in shares of Mylan by 77.7% during the second quarter. Orbimed Advisors LLC now owns 3,702,800 shares of the company’s stock valued at $133,819,000 after purchasing an additional 1,618,500 shares during the period. 82.99% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on MYL shares. Mizuho reissued a “buy” rating and set a $54.00 price target on shares of Mylan in a report on Wednesday, August 8th. Citigroup lowered their price target on Mylan from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, August 9th. Bank of America raised Mylan from a “neutral” rating to a “buy” rating and lowered their price target for the company from $44.00 to $42.00 in a report on Tuesday. Royal Bank of Canada lowered their price target on Mylan from $51.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Wells Fargo & Co raised Mylan from a “market perform” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Tuesday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $46.87.
NASDAQ:MYL opened at $36.43 on Wednesday. The stock has a market cap of $16.33 billion, a P/E ratio of 7.99, a PEG ratio of 1.02 and a beta of 1.53. Mylan NV has a 52-week low of $30.33 and a 52-week high of $47.82. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 1.18.
Mylan (NASDAQ:MYL) last released its earnings results on Monday, November 5th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.06. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.91 billion. Mylan had a return on equity of 18.48% and a net margin of 3.90%. Mylan’s revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.10 earnings per share. Sell-side analysts anticipate that Mylan NV will post 4.62 earnings per share for the current fiscal year.
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Mylan Company Profile
Mylan N.V., together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic, brand name, and over-the-counter (OTC) products worldwide. The company operates through three segments: North America, Europe, and Rest of World. It offers pharmaceutical products in tablet, capsule, injectable, transdermal patch, gel, nebulized, and cream or ointment forms.
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