Tokio Marine Asset Management Co. Ltd. reduced its position in Mylan Inc. (NASDAQ:MYL) by 5.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,860 shares of the company’s stock after selling 791 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Mylan were worth $556,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in MYL. Checchi Capital Advisers LLC increased its stake in shares of Mylan by 6.6% in the second quarter. Checchi Capital Advisers LLC now owns 2,637 shares of the company’s stock worth $114,000 after buying an additional 164 shares during the period. Integrated Investment Consultants LLC bought a new stake in shares of Mylan during the second quarter worth about $145,000. Parametrica Management Ltd bought a new stake in shares of Mylan during the second quarter worth about $206,000. Cypress Capital Group bought a new stake in shares of Mylan during the first quarter worth about $208,000. Finally, Traynor Capital Management Inc. bought a new stake in shares of Mylan during the second quarter worth about $239,000. 60.20% of the stock is owned by hedge funds and other institutional investors.
Shares of Mylan Inc. (NASDAQ:MYL) traded down 2.44% during mid-day trading on Friday, reaching $35.94. The company’s stock had a trading volume of 10,871,234 shares. Mylan Inc. has a 52 week low of $35.58 and a 52 week high of $55.51. The stock has a market capitalization of $19.22 billion, a price-to-earnings ratio of 22.75 and a beta of 1.14. The company’s 50-day moving average is $41.27 and its 200-day moving average is $44.19.
Mylan (NASDAQ:MYL) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.03. Mylan had a return on equity of 23.22% and a net margin of 8.11%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the company earned $0.91 earnings per share. The company’s revenue was up 8.0% on a year-over-year basis. Equities analysts predict that Mylan Inc. will post $4.95 EPS for the current year.
A number of equities research analysts have issued reports on the company. Wells Fargo & Co. set a $44.00 price objective on Mylan and gave the company a “hold” rating in a research report on Sunday, September 4th. Leerink Swann set a $45.00 price target on Mylan and gave the stock a “buy” rating in a report on Saturday, October 1st. Morgan Stanley reiterated a “hold” rating on shares of Mylan in a report on Tuesday, July 12th. TheStreet downgraded Mylan from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Finally, Zacks Investment Research downgraded Mylan from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $53.58.
In other news, CEO Heather M. Bresch sold 100,200 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $50.00, for a total transaction of $5,010,000.00. Following the sale, the chief executive officer now owns 828,318 shares of the company’s stock, valued at $41,415,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.71% of the company’s stock.
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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