TD Asset Management Inc. Cuts Position in Mylan N.V. (MYL)
TD Asset Management Inc. cut its position in shares of Mylan N.V. (NASDAQ:MYL) by 29.7% during the second quarter, Holdings Channel reports. The fund owned 226,203 shares of the company’s stock after selling 95,451 shares during the period. TD Asset Management Inc.’s holdings in Mylan N.V. were worth $8,781,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. First Personal Financial Services increased its stake in Mylan N.V. by 33.2% in the first quarter. First Personal Financial Services now owns 2,733 shares of the company’s stock worth $107,000 after buying an additional 681 shares during the last quarter. Global X Management Co. LLC increased its stake in Mylan N.V. by 91.6% in the first quarter. Global X Management Co. LLC now owns 3,015 shares of the company’s stock worth $118,000 after buying an additional 1,441 shares during the last quarter. Ropes Wealth Advisors LLC bought a new stake in Mylan N.V. during the first quarter worth $136,000. Oakworth Capital Inc. increased its stake in Mylan N.V. by 30.7% in the first quarter. Oakworth Capital Inc. now owns 4,255 shares of the company’s stock worth $166,000 after buying an additional 1,000 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in Mylan N.V. during the first quarter worth $188,000. Institutional investors own 71.57% of the company’s stock.
Shares of Mylan N.V. (NASDAQ MYL) opened at 30.13 on Wednesday. Mylan N.V. has a 52 week low of $29.39 and a 52 week high of $49.42. The stock has a 50 day moving average price of $36.82 and a 200 day moving average price of $38.96. The firm has a market capitalization of $16.16 billion, a P/E ratio of 24.36 and a beta of 1.27.
Mylan N.V. (NASDAQ:MYL) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by $0.08. Mylan N.V. had a net margin of 5.51% and a return on equity of 22.42%. The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. Mylan N.V.’s quarterly revenue was up 15.7% compared to the same quarter last year. Analysts forecast that Mylan N.V. will post $4.51 EPS for the current year.
A number of analysts recently weighed in on MYL shares. Deutsche Bank AG decreased their price objective on Mylan N.V. from $52.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, April 18th. Zacks Investment Research upgraded Mylan N.V. from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Barclays PLC upgraded Mylan N.V. from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $47.00 to $50.00 in a report on Monday, May 22nd. Royal Bank Of Canada set a $41.00 price objective on Mylan N.V. and gave the company a “hold” rating in a report on Sunday, July 16th. Finally, Cowen and Company restated a “market perform” rating and issued a $43.00 price objective (down from $55.00) on shares of Mylan N.V. in a report on Sunday, May 21st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Mylan N.V. has an average rating of “Buy” and an average target price of $47.83.
In related news, insider Anthony Mauro sold 10,000 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $40.00, for a total transaction of $400,000.00. Following the transaction, the insider now owns 140,653 shares in the company, valued at $5,626,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Rajiv Malik sold 25,000 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $40.00, for a total transaction of $1,000,000.00. Following the transaction, the president now owns 799,855 shares in the company, valued at approximately $31,994,200. The disclosure for this sale can be found here. 0.69% of the stock is owned by insiders.
About Mylan N.V.
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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