147,800 Shares in Mylan Inc. (MYL) Acquired by Virginia Retirement Systems ET AL
Virginia Retirement Systems ET AL acquired a new stake in Mylan Inc. (NASDAQ:MYL) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 147,800 shares of the company’s stock, valued at approximately $6,391,000.
Other institutional investors also recently modified their holdings of the company. Westpac Banking Corp raised its stake in Mylan by 217.0% in the second quarter. Westpac Banking Corp now owns 155,755 shares of the company’s stock worth $6,356,000 after buying an additional 106,615 shares during the period. Vanguard Group Inc. raised its stake in Mylan by 5.7% in the second quarter. Vanguard Group Inc. now owns 26,441,320 shares of the company’s stock worth $1,143,323,000 after buying an additional 1,431,929 shares during the period. Prudential Financial Inc. raised its stake in Mylan by 14.2% in the second quarter. Prudential Financial Inc. now owns 576,409 shares of the company’s stock worth $24,924,000 after buying an additional 71,550 shares during the period. Dimensional Fund Advisors LP raised its stake in Mylan by 32.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,909,781 shares of the company’s stock worth $82,580,000 after buying an additional 471,116 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in Mylan by 0.9% in the second quarter. Teacher Retirement System of Texas now owns 780,240 shares of the company’s stock worth $33,738,000 after buying an additional 7,078 shares during the period. Hedge funds and other institutional investors own 60.19% of the company’s stock.
Shares of Mylan Inc. (NASDAQ:MYL) opened at 41.79 on Monday. The stock has a 50 day moving average of $45.44 and a 200 day moving average of $44.94. Mylan Inc. has a 1-year low of $37.59 and a 1-year high of $55.51. The firm has a market cap of $22.35 billion, a PE ratio of 26.45 and a beta of 1.25.
Mylan (NASDAQ:MYL) last released its quarterly earnings results on Tuesday, August 9th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.13 by $0.03. The business earned $2.56 billion during the quarter, compared to analyst estimates of $2.58 billion. Mylan had a net margin of 8.11% and a return on equity of 23.22%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share. Equities research analysts anticipate that Mylan Inc. will post $4.96 earnings per share for the current fiscal year.
A number of research firms have issued reports on MYL. Wells Fargo & Co. set a $44.00 target price on shares of Mylan and gave the stock a “hold” rating in a report on Sunday, September 4th. Zacks Investment Research upgraded shares of Mylan from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Tuesday, July 5th. RBC Capital Markets reduced their target price on shares of Mylan from $52.00 to $48.00 and set a “sector perform” rating on the stock in a report on Tuesday, September 6th. Leerink Swann reiterated an “outperform” rating and set a $55.00 target price on shares of Mylan in a report on Tuesday, August 30th. Finally, BTIG Research reissued a “buy” rating and issued a $60.00 price objective on shares of Mylan in a research report on Tuesday, August 30th. Eleven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $54.37.
In other 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 transaction of $5,010,000.00. Following the completion of the transaction, the chief executive officer now owns 828,318 shares in the company, valued at $41,415,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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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