Mylan NV (NASDAQ:MYL) Stake Cut by Meadow Creek Investment Management LLC

Meadow Creek Investment Management LLC lessened its holdings in Mylan NV (NASDAQ:MYL) by 17.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 231,196 shares of the company’s stock after selling 49,084 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in Mylan were worth $4,402,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Pzena Investment Management LLC increased its position in Mylan by 0.4% in the second quarter. Pzena Investment Management LLC now owns 21,103,981 shares of the company’s stock worth $401,820,000 after buying an additional 76,305 shares during the period. Geode Capital Management LLC grew its position in shares of Mylan by 15.0% during the fourth quarter. Geode Capital Management LLC now owns 7,875,204 shares of the company’s stock worth $215,460,000 after acquiring an additional 1,026,731 shares during the last quarter. FIL Ltd increased its holdings in shares of Mylan by 14.1% in the 1st quarter. FIL Ltd now owns 6,468,868 shares of the company’s stock worth $183,327,000 after acquiring an additional 799,051 shares during the period. Menora Mivtachim Holdings LTD. increased its holdings in shares of Mylan by 5.0% in the 2nd quarter. Menora Mivtachim Holdings LTD. now owns 6,421,254 shares of the company’s stock worth $122,261,000 after acquiring an additional 304,469 shares during the period. Finally, Northern Trust Corp lifted its position in Mylan by 3.3% in the 2nd quarter. Northern Trust Corp now owns 5,727,160 shares of the company’s stock valued at $109,045,000 after purchasing an additional 185,078 shares during the last quarter. 84.78% of the stock is owned by hedge funds and other institutional investors.

Mylan stock traded up $0.47 during midday trading on Wednesday, hitting $22.35. The company’s stock had a trading volume of 368,969 shares, compared to its average volume of 5,145,693. The company has a quick ratio of 0.77, a current ratio of 1.37 and a debt-to-equity ratio of 1.15. The stock’s 50-day moving average price is $19.34 and its 200-day moving average price is $22.20. Mylan NV has a 12 month low of $16.63 and a 12 month high of $39.59. The company has a market capitalization of $10.93 billion, a PE ratio of 4.87, a price-to-earnings-growth ratio of 1.00 and a beta of 1.80.

Mylan (NASDAQ:MYL) last posted its quarterly earnings data on Monday, July 29th. The company reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.08. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.82 billion. Mylan had a net margin of 0.30% and a return on equity of 18.93%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 EPS. As a group, equities analysts anticipate that Mylan NV will post 4.3 EPS for the current year.

In related news, Director Melina E. Higgins bought 20,000 shares of Mylan stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $17.68 per share, with a total value of $353,600.00. Following the completion of the acquisition, the director now directly owns 33,120 shares in the company, valued at approximately $585,561.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard A. Mark purchased 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was bought at an average price of $20.97 per share, with a total value of $83,880.00. Following the transaction, the director now directly owns 4,000 shares in the company, valued at $83,880. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 83,859 shares of company stock worth $1,628,752. 0.82% of the stock is currently owned by company insiders.

MYL has been the subject of several recent analyst reports. BidaskClub upgraded shares of Mylan from a “sell” rating to a “hold” rating in a research report on Thursday, June 20th. Barclays started coverage on Mylan in a report on Tuesday, June 11th. They set an “overweight” rating and a $26.00 price target on the stock. UBS Group reduced their price objective on Mylan to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, May 28th. TheStreet cut Mylan from a “c-” rating to a “d+” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $25.00 target price (up previously from $22.00) on shares of Mylan in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Mylan currently has a consensus rating of “Buy” and an average target price of $30.43.

Mylan Profile

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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Institutional Ownership by Quarter for Mylan (NASDAQ:MYL)

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