FTB Advisors Inc. raised its stake in Mylan Inc. (NASDAQ:MYL) by 0.0% during the second quarter, Holdings Channel reports. The fund owned 5,242 shares of the company’s stock after buying an additional 2 shares during the period. FTB Advisors Inc.’s holdings in Mylan were worth $227,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the company. Advisory Services Network LLC boosted its position in Mylan by 43.6% in the second quarter. Advisory Services Network LLC now owns 2,537 shares of the company’s stock valued at $110,000 after buying an additional 770 shares during the period. Checchi Capital Advisers LLC boosted its position in Mylan by 6.6% in the second quarter. Checchi Capital Advisers LLC now owns 2,637 shares of the company’s stock valued at $114,000 after buying an additional 164 shares during the period. Integrated Investment Consultants LLC purchased a new position in Mylan during the second quarter valued at approximately $145,000. Cypress Capital Group purchased a new position in Mylan during the first quarter valued at approximately $208,000. Finally, Parametrica Management Ltd purchased a new position in Mylan during the second quarter valued at approximately $206,000. 60.35% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Mylan Inc. (NASDAQ:MYL) traded down 0.19% during trading on Monday, hitting $36.42. 5,173,779 shares of the stock were exchanged. The stock has a 50-day moving average of $40.14 and a 200 day moving average of $43.91. The stock has a market cap of $19.48 billion, a P/E ratio of 23.05 and a beta of 1.14. Mylan Inc. has a 12-month low of $35.58 and a 12-month high of $55.51.
Mylan (NASDAQ:MYL) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.03. Mylan had a net margin of 8.11% and a return on equity of 23.22%. The company earned $2.56 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities analysts predict that Mylan Inc. will post $4.95 earnings per share for the current fiscal year.
Several research analysts have commented on the stock. Leerink Swann set a $45.00 price target on shares of Mylan and gave the stock a “buy” rating in a report on Saturday, October 1st. Wells Fargo & Co. set a $44.00 target price on shares of Mylan and gave the company a “hold” rating in a report on Saturday, October 1st. Zacks Investment Research upgraded shares of Mylan from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Tuesday, July 5th. Argus set a $55.00 target price on shares of Mylan and gave the company a “buy” rating in a report on Thursday, September 22nd. Finally, TheStreet cut shares of Mylan from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $53.49.
In related news, CEO Heather M. Bresch sold 100,200 shares of the company’s 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 sale, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.71% of the company’s stock.
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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