Prudential Financial Inc. raised its stake in Mylan Inc. (NASDAQ:MYL) by 14.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 576,409 shares of the company’s stock after buying an additional 71,550 shares during the period. Prudential Financial Inc. owned 0.11% of Mylan worth $24,924,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of MYL. Wellington Management Group LLP boosted its position in Mylan by 1.2% in the first quarter. Wellington Management Group LLP now owns 45,335,578 shares of the company’s stock worth $2,101,304,000 after buying an additional 551,453 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Mylan by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 10,485,906 shares of the company’s stock worth $486,022,000 after buying an additional 33,675 shares during the period. Bank of New York Mellon Corp boosted its position in Mylan by 56.4% in the second quarter. Bank of New York Mellon Corp now owns 8,066,095 shares of the company’s stock worth $348,779,000 after buying an additional 2,908,633 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Mylan during the second quarter worth $261,308,000. Finally, Geode Capital Management LLC boosted its position in Mylan by 6.9% in the first quarter. Geode Capital Management LLC now owns 3,587,542 shares of the company’s stock worth $165,967,000 after buying an additional 230,755 shares during the period. Institutional investors and hedge funds own 60.20% of the company’s stock.
Mylan Inc. (NASDAQ:MYL) opened at 42.06 on Friday. The stock has a market capitalization of $22.50 billion, a PE ratio of 26.62 and a beta of 1.25. Mylan Inc. has a 1-year low of $37.59 and a 1-year high of $55.51. The company’s 50 day moving average is $44.19 and its 200-day moving average is $44.73.
Mylan (NASDAQ:MYL) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.03. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.58 billion. Mylan had a net margin of 8.11% and a return on equity of 23.22%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share. Analysts forecast that Mylan Inc. will post $4.96 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on the stock. Argus set a $55.00 target price on shares of Mylan and gave the company a “buy” rating in a research note on Thursday. Leerink Swann restated a “buy” rating on shares of Mylan in a research note on Thursday. Wells Fargo & Co. set a $44.00 price target on shares of Mylan and gave the company a “hold” rating in a report on Sunday, September 4th. Zacks Investment Research upgraded shares of Mylan from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Tuesday, July 5th. Finally, Sanford C. Bernstein set a $60.00 price target on shares of Mylan and gave the company a “buy” rating in a report on Friday. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $54.76.
In other Mylan news, CEO Heather M. Bresch sold 100,200 shares of the stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $50.00, for a total transaction of $5,010,000.00. Following the transaction, the chief executive officer now directly owns 828,318 shares of the company’s stock, valued at $41,415,900. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.71% of the company’s stock.
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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