Toronto Dominion Bank increased its position in shares of Mylan (NASDAQ:MYL) by 56.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,212 shares of the company’s stock after buying an additional 44,901 shares during the period. Toronto Dominion Bank’s holdings in Mylan were worth $4,842,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. State Street Corp raised its position in shares of Mylan by 7.8% in the fourth quarter. State Street Corp now owns 19,942,043 shares of the company’s stock worth $760,788,000 after buying an additional 1,446,244 shares in the last quarter. Pzena Investment Management LLC bought a new position in shares of Mylan during the first quarter worth about $283,158,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Mylan by 31.2% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,970,200 shares of the company’s stock worth $227,763,000 after buying an additional 1,420,000 shares in the last quarter. Norges Bank bought a new position in shares of Mylan during the fourth quarter worth about $166,189,000. Finally, Camber Capital Management LLC raised its position in shares of Mylan by 7.0% in the fourth quarter. Camber Capital Management LLC now owns 4,145,889 shares of the company’s stock worth $158,166,000 after buying an additional 272,889 shares in the last quarter. Hedge funds and other institutional investors own 60.89% of the company’s stock.
Mylan (NASDAQ:MYL) traded down 0.55% during mid-day trading on Friday, hitting $37.94. 3,434,774 shares of the stock were exchanged. The firm has a 50-day moving average price of $38.13 and a 200-day moving average price of $38.73. Mylan has a 12-month low of $33.60 and a 12-month high of $50.40. The stock has a market capitalization of $20.33 billion, a P/E ratio of 37.90 and a beta of 1.14.
Mylan (NASDAQ:MYL) last issued its quarterly earnings data on Wednesday, May 10th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.01. Mylan had a return on equity of 22.04% and a net margin of 2.50%. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same period in the previous year, the firm earned $0.76 EPS. Mylan’s quarterly revenue was up 24.1% compared to the same quarter last year. Equities analysts predict that Mylan will post $5.17 earnings per share for the current fiscal year.
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MYL has been the subject of several research reports. Royal Bank of Canada reduced their price objective on shares of Mylan from $39.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, May 11th. Mizuho raised their price objective on shares of Mylan from $47.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, March 13th. Vetr lowered shares of Mylan from a “strong-buy” rating to a “buy” rating and set a $44.68 price objective for the company. in a research report on Monday, February 6th. BMO Capital Markets initiated coverage on shares of Mylan in a research report on Monday, May 1st. They set an “outperform” rating and a $50.00 price objective for the company. Finally, Leerink Swann restated an “outperform” rating on shares of Mylan in a research report on Monday, March 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Mylan currently has an average rating of “Buy” and a consensus target price of $51.58.
In related news, major shareholder Laboratories Abbott sold 44,000,000 shares of the business’s stock in a transaction that occurred on Thursday, March 23rd. The stock was sold at an average price of $41.60, for a total value of $1,830,400,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.71% of the stock is currently owned by insiders.
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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