Meeder Asset Management Inc. lessened its holdings in shares of Mylan NV (NASDAQ:MYL) by 22.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 72,451 shares of the company’s stock after selling 21,476 shares during the period. Meeder Asset Management Inc.’s holdings in Mylan were worth $2,054,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of Mylan by 2.6% during the 4th quarter. BlackRock Inc. now owns 39,965,771 shares of the company’s stock worth $1,095,061,000 after purchasing an additional 1,018,811 shares during the last quarter. Vanguard Group Inc lifted its position in shares of Mylan by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 35,774,112 shares of the company’s stock worth $1,309,333,000 after purchasing an additional 506,649 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Mylan by 8.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 10,226,277 shares of the company’s stock worth $374,280,000 after purchasing an additional 818,059 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Mylan by 15.0% during the 4th quarter. Geode Capital Management LLC now owns 7,875,204 shares of the company’s stock worth $215,460,000 after purchasing an additional 1,026,731 shares during the last quarter. Finally, Norges Bank bought a new position in Mylan during the fourth quarter valued at about $169,463,000. 83.68% of the stock is owned by institutional investors and hedge funds.
MYL has been the topic of several research reports. Zacks Investment Research lowered Mylan from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. UBS Group lowered Mylan from a “buy” rating to a “neutral” rating and lowered their price target for the company from $54.00 to $32.00 in a research note on Wednesday, January 23rd. Morgan Stanley upgraded Mylan from an “equal weight” rating to an “overweight” rating and set a $35.00 price target on the stock in a research note on Wednesday, March 6th. They noted that the move was a valuation call. Sanford C. Bernstein lowered Mylan from an “outperform” rating to a “market perform” rating and set a $33.00 price target on the stock. in a research note on Wednesday, February 27th. Finally, Mizuho restated a “neutral” rating on shares of Mylan in a research note on Thursday, January 31st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. Mylan presently has an average rating of “Buy” and an average target price of $39.89.
MYL stock opened at $27.07 on Wednesday. Mylan NV has a 1-year low of $26.00 and a 1-year high of $42.50. The company has a market capitalization of $13.89 billion, a PE ratio of 5.91, a P/E/G ratio of 1.13 and a beta of 1.48. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.83 and a current ratio of 1.39.
Mylan (NASDAQ:MYL) last released its quarterly earnings data on Tuesday, February 26th. The company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.06). Mylan had a net margin of 3.08% and a return on equity of 19.06%. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the company posted $1.43 earnings per share. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. Analysts forecast that Mylan NV will post 4.38 earnings per share for the current year.
Mylan N.V., together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic, branded-generic, brand-name, and over-the-counter (OTC) pharmaceutical products in North America, Europe, and internationally. It offers active pharmaceutical ingredients and finished dosage forms; and antiretroviral medicines to treat HIV/AIDS.
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