ClariVest Asset Management LLC Boosts Position in Mylan Inc. (MYL)
ClariVest Asset Management LLC boosted its position in Mylan Inc. (NASDAQ:MYL) by 297.6% during the second quarter, Holdings Channel reports. The firm owned 8,951 shares of the company’s stock after buying an additional 6,700 shares during the period. ClariVest Asset Management LLC’s holdings in Mylan were worth $387,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in MYL. American Century Companies Inc. increased its stake in Mylan by 174.0% in the second quarter. American Century Companies Inc. now owns 1,276,486 shares of the company’s stock valued at $55,195,000 after buying an additional 810,572 shares during the last quarter. Bank of Montreal Can bought a new stake in Mylan during the second quarter valued at approximately $34,668,000. Deerfield Management Co. increased its stake in Mylan by 73.5% in the first quarter. Deerfield Management Co. now owns 1,832,535 shares of the company’s stock valued at $84,938,000 after buying an additional 776,535 shares during the last quarter. First Manhattan Co. increased its stake in Mylan by 78.2% in the second quarter. First Manhattan Co. now owns 1,291,700 shares of the company’s stock valued at $55,853,000 after buying an additional 566,850 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Mylan by 1.2% in the first quarter. Wellington Management Group LLP now owns 45,335,578 shares of the company’s stock valued at $2,101,304,000 after buying an additional 551,453 shares during the last quarter. 60.35% of the stock is owned by hedge funds and other institutional investors.
Mylan Inc. (NASDAQ:MYL) traded down 0.14% on Monday, reaching $36.44. The company’s stock had a trading volume of 6,709,068 shares. Mylan Inc. has a 52-week low of $35.58 and a 52-week high of $55.51. The firm has a market cap of $19.49 billion, a PE ratio of 23.06 and a beta of 1.14. The stock’s 50 day moving average price is $39.95 and its 200 day moving average price is $43.80.
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 the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $2.58 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The business’s revenue was up 8.0% on a year-over-year basis. Equities research analysts expect that Mylan Inc. will post $4.95 earnings per share for the current fiscal year.
Several equities research analysts have recently commented on the company. Leerink Swann set a $45.00 price objective on Mylan and gave the company a “buy” rating in a report on Saturday, October 1st. Wells Fargo & Co. set a $44.00 price objective on Mylan and gave the company a “hold” rating in a report on Saturday, October 1st. Zacks Investment Research raised Mylan from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Tuesday, July 5th. Argus set a $55.00 price target on Mylan and gave the company a “buy” rating in a research note on Thursday, September 22nd. Finally, TheStreet cut Mylan from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Mylan presently has an average rating of “Buy” and a consensus target price of $53.49.
In other Mylan news, CEO Heather M. Bresch sold 100,200 shares of the business’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $50.00, for a total value of $5,010,000.00. Following the transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. 0.71% of the stock is owned by company 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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