Mylan Inc. (MYL) Stake Raised by Investment House LLC
Investment House LLC boosted its stake in Mylan Inc. (NASDAQ:MYL) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,915 shares of the company’s stock after buying an additional 625 shares during the period. Investment House LLC’s holdings in Mylan were worth $818,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chevy Chase Trust Holdings Inc. raised its position in Mylan by 2.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 349,198 shares of the company’s stock valued at $16,185,000 after buying an additional 7,281 shares in the last quarter. First Manhattan Co. increased its stake in shares of Mylan by 9.1% in the first quarter. First Manhattan Co. now owns 724,850 shares of the company’s stock valued at $33,596,000 after buying an additional 60,550 shares during the last quarter. RDL Financial Inc. bought a new stake in shares of Mylan during the first quarter valued at approximately $607,000. Glenmede Trust Co. NA increased its stake in shares of Mylan by 96.4% in the first quarter. Glenmede Trust Co. NA now owns 807,545 shares of the company’s stock valued at $37,428,000 after buying an additional 396,326 shares during the last quarter. Finally, River Wealth Advisors LLC increased its stake in shares of Mylan by 4.3% in the first quarter. River Wealth Advisors LLC now owns 68,755 shares of the company’s stock valued at $3,187,000 after buying an additional 2,811 shares during the last quarter. Institutional investors own 60.20% of the company’s stock.
Mylan Inc. (NASDAQ:MYL) traded up 1.58% during trading on Wednesday, reaching $41.91. 4,165,326 shares of the company were exchanged. The company has a market capitalization of $22.42 billion, a P/E ratio of 26.53 and a beta of 1.25. The firm’s 50-day moving average is $44.54 and its 200 day moving average is $44.77. Mylan Inc. has a one year low of $37.59 and a one year high of $55.51.
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, topping analysts’ consensus estimates of $1.13 by $0.03. Mylan had a net margin of 8.11% and a return on equity of 23.22%. The business earned $2.56 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the company posted $0.91 earnings per share. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, analysts anticipate that Mylan Inc. will post $4.96 EPS for the current fiscal year.
MYL has been the subject of several research analyst reports. Bank of America Corp. reaffirmed a “buy” rating and set a $70.00 target price on shares of Mylan in a report on Wednesday, August 24th. Wells Fargo & Co. reaffirmed a “market perform” rating and set a $44.00 target price on shares of Mylan in a report on Thursday, August 25th. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating and set a $60.00 target price on shares of Mylan in a report on Thursday, August 25th. Evercore ISI reaffirmed a “hold” rating and set a $49.00 target price on shares of Mylan in a report on Friday, August 26th. Finally, TheStreet raised shares of Mylan from a “hold” rating to a “buy” rating in a report on Friday, August 12th. Eleven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $54.37.
In other news, CEO Heather M. Bresch sold 100,200 shares of Mylan stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $50.00, for a total value of $5,010,000.00. Following the completion of the transaction, the chief executive officer now owns 828,318 shares in the company, valued at $41,415,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.
Want to see what other hedge funds are holding MYL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mylan Inc. (NASDAQ:MYL).
Receive News & Ratings for Mylan Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mylan Inc. and related companies with MarketBeat.com's FREE daily email newsletter.