Mylan (MYL) Shares Bought by Meadow Creek Investment Management LLC
Meadow Creek Investment Management LLC increased its stake in Mylan (NASDAQ:MYL) by 11.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,856 shares of the company’s stock after buying an additional 1,764 shares during the period. Meadow Creek Investment Management LLC’s holdings in Mylan were worth $657,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in Mylan by 9.4% in the third quarter. Principal Financial Group Inc. now owns 666,698 shares of the company’s stock valued at $25,414,000 after buying an additional 57,272 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd raised its stake in Mylan by 19.3% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,752,060 shares of the company’s stock valued at $104,909,000 after buying an additional 444,868 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Mylan by 16.3% in the third quarter. Ameriprise Financial Inc. now owns 321,260 shares of the company’s stock valued at $12,258,000 after buying an additional 45,126 shares in the last quarter. Herndon Capital Management LLC raised its stake in Mylan by 14.2% in the third quarter. Herndon Capital Management LLC now owns 1,224,597 shares of the company’s stock valued at $46,681,000 after buying an additional 152,336 shares in the last quarter. Finally, Lockheed Martin Investment Management Co. acquired a new stake in Mylan during the third quarter valued at approximately $1,105,000. Institutional investors own 60.89% of the company’s stock.
Mylan (NASDAQ:MYL) traded down 0.37% during midday trading on Friday, reaching $38.01. 2,313,179 shares of the company were exchanged. The firm’s 50-day moving average is $38.13 and its 200-day moving average is $38.73. The firm has a market cap of $20.37 billion, a P/E ratio of 37.97 and a beta of 1.14. Mylan has a one year low of $33.60 and a one year high of $50.40.
Mylan (NASDAQ:MYL) last released its earnings results on Wednesday, May 10th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.01. The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.81 billion. Mylan had a net margin of 2.50% and a return on equity of 22.04%. The firm’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same period last year, the firm posted $0.76 earnings per share. On average, equities analysts expect that Mylan will post $5.17 EPS for the current fiscal year.
Several analysts have recently commented on MYL shares. Mizuho reiterated a “buy” rating and issued a $53.00 price target on shares of Mylan in a research report on Thursday, March 30th. Vetr lowered shares of Mylan from a “strong-buy” rating to a “buy” rating and set a $44.68 price target on the stock. in a research report on Tuesday, February 14th. Deutsche Bank AG lowered their price target on shares of Mylan from $52.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, April 18th. Barclays PLC reiterated an “equal weight” rating and issued a $47.00 price target (up from $44.00) on shares of Mylan in a research report on Saturday, March 11th. Finally, Zacks Investment Research upgraded shares of Mylan from a “sell” rating to a “hold” rating in a research report on Monday, February 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $51.58.
In other news, major shareholder Laboratories Abbott sold 44,000,000 shares of Mylan stock in a transaction that occurred on Thursday, March 23rd. The shares were sold at an average price of $41.60, for a total value of $1,830,400,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.71% of the company’s stock.
Mylan Company Profile
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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