Traynor Capital Management Inc. bought a new stake in shares of Mylan Inc. (NASDAQ:MYL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,612 shares of the company’s stock, valued at approximately $239,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Virginia Retirement System purchased a new stake in shares of Mylan during the first quarter valued at about $7,165,000. Pacad Investment Ltd. increased its stake in shares of Mylan by 23.5% in the first quarter. Pacad Investment Ltd. now owns 15,678 shares of the company’s stock valued at $727,000 after buying an additional 2,988 shares during the period. Dubuque Bank & Trust Co. increased its stake in shares of Mylan by 99.9% in the first quarter. Dubuque Bank & Trust Co. now owns 50,466 shares of the company’s stock valued at $2,339,000 after buying an additional 25,224 shares during the period. Prudential Financial Inc. increased its stake in shares of Mylan by 2.0% in the first quarter. Prudential Financial Inc. now owns 504,859 shares of the company’s stock valued at $23,400,000 after buying an additional 10,030 shares during the period. Finally, NF Trinity Capital Hong Kong Ltd purchased a new stake in shares of Mylan during the first quarter valued at about $6,257,000. 60.20% of the stock is currently owned by institutional investors.
Shares of Mylan Inc. (NASDAQ:MYL) traded down 2.64% on Wednesday, hitting $40.22. 5,638,023 shares of the stock were exchanged. The firm has a market capitalization of $21.51 billion, a PE ratio of 25.46 and a beta of 1.25. The company has a 50-day moving average price of $43.78 and a 200-day moving average price of $44.62. Mylan Inc. has a one year low of $37.59 and a one year high of $55.51.
Mylan (NASDAQ:MYL) last released its earnings results on Tuesday, August 9th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.03. The business earned $2.56 billion during the quarter, compared to the consensus estimate of $2.58 billion. Mylan had a net margin of 8.11% and a return on equity of 23.22%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 earnings per share. Equities research analysts expect that Mylan Inc. will post $4.96 earnings per share for the current year.
Several research firms have recently commented on MYL. JPMorgan Chase & Co. restated an “overweight” rating on shares of Mylan in a report on Saturday, June 25th. Zacks Investment Research upgraded shares of Mylan from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Tuesday, July 5th. Morgan Stanley restated a “hold” rating on shares of Mylan in a report on Tuesday, July 12th. Leerink Swann boosted their price target on shares of Mylan from $51.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, August 15th. Finally, TheStreet upgraded shares of Mylan from a “hold” rating to a “buy” rating in a report on Friday, August 12th. Ten investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $54.76.
In related news, CEO Heather M. Bresch sold 100,200 shares of the firm’s stock in a transaction on 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 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 currently owned by corporate insiders.
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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