Conning Inc. raised its position in shares of Mylan Inc. (NASDAQ:MYL) by 1.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 9,671 shares of the company’s stock after buying an additional 120 shares during the period. Conning Inc.’s holdings in Mylan were worth $418,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MYL. Bank of Montreal Can acquired a new position in Mylan during the second quarter worth about $34,668,000. Canada Pension Plan Investment Board boosted its position in Mylan by 85.3% in the first quarter. Canada Pension Plan Investment Board now owns 10,425 shares of the company’s stock worth $483,000 after buying an additional 4,800 shares in the last quarter. Deerfield Management Co. boosted its position in Mylan by 73.5% in the first quarter. Deerfield Management Co. now owns 1,832,535 shares of the company’s stock worth $84,938,000 after buying an additional 776,535 shares in the last quarter. Integrated Investment Consultants LLC acquired a new position in Mylan during the second quarter worth about $145,000. Finally, Strs Ohio boosted its position in Mylan by 4.5% in the second quarter. Strs Ohio now owns 268,295 shares of the company’s stock worth $11,601,000 after buying an additional 11,633 shares in the last quarter. Hedge funds and other institutional investors own 60.20% of the company’s stock.
Shares of Mylan Inc. (NASDAQ:MYL) traded down 0.91% during midday trading on Friday, reaching $38.12. The company had a trading volume of 7,298,747 shares. Mylan Inc. has a one year low of $37.59 and a one year high of $55.51. The company has a 50-day moving average price of $42.90 and a 200 day moving average price of $44.47. The company has a market capitalization of $20.39 billion, a P/E ratio of 24.13 and a beta of 1.25.
Mylan (NASDAQ:MYL) last released its quarterly earnings data on Tuesday, August 9th. The company reported $1.16 earnings per share for the quarter, topping the 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 earned $2.56 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter last year, the business posted $0.91 EPS. The business’s revenue was up 8.0% on a year-over-year basis. Equities analysts anticipate that Mylan Inc. will post $4.96 earnings per share for the current fiscal year.
A number of brokerages have recently commented on MYL. Bank of America Corp. reissued a “buy” rating and set a $70.00 price target on shares of Mylan in a research note on Wednesday, August 24th. Wells Fargo & Co. reissued a “market perform” rating and set a $44.00 price target on shares of Mylan in a research note on Thursday, August 25th. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating and issued a $60.00 price objective on shares of Mylan in a research note on Thursday, August 25th. Evercore ISI reaffirmed a “hold” rating and issued a $49.00 price objective on shares of Mylan in a research note on Friday, August 26th. Finally, Deutsche Bank AG set a $58.00 price objective on Mylan and gave the stock a “buy” rating in a research note on Friday, September 23rd. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $54.76.
In other Mylan news, CEO Heather M. Bresch sold 100,200 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 828,318 shares in the company, valued at approximately $41,415,900. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.71% of the stock is owned by company 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.
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.