Franklin Resources Inc. decreased its holdings in shares of Mylan (NASDAQ:MYL) by 44.2% in the 4th quarter, Holdings Channel reports. The firm owned 4,783,647 shares of the company’s stock after selling 3,782,570 shares during the quarter. Franklin Resources Inc.’s holdings in Mylan were worth $202,396,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Toronto Dominion Bank lifted its stake in Mylan by 28.2% in the third quarter. Toronto Dominion Bank now owns 200,017 shares of the company’s stock valued at $6,274,000 after buying an additional 43,943 shares during the last quarter. Rhumbline Advisers lifted its stake in Mylan by 7.2% in the third quarter. Rhumbline Advisers now owns 791,463 shares of the company’s stock valued at $24,828,000 after buying an additional 53,154 shares during the last quarter. Hexavest Inc. lifted its stake in Mylan by 1.7% in the fourth quarter. Hexavest Inc. now owns 1,435,251 shares of the company’s stock valued at $60,725,000 after buying an additional 23,353 shares during the last quarter. AMP Capital Investors Ltd lifted its stake in Mylan by 82.0% in the third quarter. AMP Capital Investors Ltd now owns 642,574 shares of the company’s stock valued at $20,158,000 after buying an additional 289,485 shares during the last quarter. Finally, Andra AP fonden lifted its stake in Mylan by 71.1% in the third quarter. Andra AP fonden now owns 41,400 shares of the company’s stock valued at $1,299,000 after buying an additional 17,200 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.
Mylan (NASDAQ MYL) opened at $42.51 on Monday. Mylan has a twelve month low of $29.39 and a twelve month high of $47.82. The firm has a market capitalization of $21,883.37, a price-to-earnings ratio of 9.32, a P/E/G ratio of 1.35 and a beta of 1.35. The company has a current ratio of 1.13, a quick ratio of 0.73 and a debt-to-equity ratio of 1.06.
A number of research firms have recently issued reports on MYL. Cantor Fitzgerald set a $34.00 target price on Mylan and gave the company a “hold” rating in a report on Thursday, November 30th. ValuEngine raised Mylan from a “hold” rating to a “buy” rating in a report on Friday, December 1st. UBS Group set a $46.00 target price on Mylan and gave the company a “buy” rating in a report on Monday, December 4th. Guggenheim began coverage on Mylan in a report on Tuesday, December 12th. They issued a “buy” rating and a $59.00 target price on the stock. Finally, BidaskClub raised Mylan from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 19th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $45.92.
In other Mylan news, President Rajiv Malik sold 50,000 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $40.91, for a total value of $2,045,500.00. Following the sale, the president now owns 503,751 shares of the company’s stock, valued at $20,608,453.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Heather M. Bresch sold 75,000 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $45.00, for a total value of $3,375,000.00. The disclosure for this sale can be found here. Insiders have sold 344,287 shares of company stock worth $14,409,960 in the last ninety days. 0.69% of the stock is currently owned by corporate insiders.
COPYRIGHT VIOLATION NOTICE: “Mylan (MYL) Position Trimmed by Franklin Resources Inc.” was posted by Ticker Report and is the sole property of of Ticker Report. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The legal version of this story can be read at https://www.tickerreport.com/banking-finance/3257531/mylan-myl-position-trimmed-by-franklin-resources-inc.html.
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 (NASDAQ:MYL).
Receive News & Ratings for Mylan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mylan and related companies with MarketBeat.com's FREE daily email newsletter.