Itau Unibanco Holding S.A. increased its position in Mylan (NASDAQ:MYL) by 287.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 17,840 shares of the company’s stock after acquiring an additional 13,235 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in Mylan were worth $755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Canada Pension Plan Investment Board lifted its position in Mylan by 99.5% during the third quarter. Canada Pension Plan Investment Board now owns 1,217,413 shares of the company’s stock valued at $38,189,000 after purchasing an additional 607,094 shares in the last quarter. Toronto Dominion Bank lifted its position in Mylan by 28.2% during the third quarter. Toronto Dominion Bank now owns 200,017 shares of the company’s stock valued at $6,274,000 after purchasing an additional 43,943 shares in the last quarter. Rhumbline Advisers lifted its position in Mylan by 7.2% during the third quarter. Rhumbline Advisers now owns 791,463 shares of the company’s stock valued at $24,828,000 after purchasing an additional 53,154 shares in the last quarter. Pzena Investment Management LLC lifted its position in Mylan by 84.1% during the third quarter. Pzena Investment Management LLC now owns 22,721,384 shares of the company’s stock valued at $712,770,000 after purchasing an additional 10,381,697 shares in the last quarter. Finally, Hexavest Inc. lifted its position in Mylan by 1.7% during the fourth quarter. Hexavest Inc. now owns 1,435,251 shares of the company’s stock valued at $60,725,000 after purchasing an additional 23,353 shares in the last quarter. 76.86% of the stock is owned by institutional investors.
In other news, CEO Heather M. Bresch sold 75,000 shares of Mylan stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $45.00, for a total value of $3,375,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.69% of the company’s stock.
Several research firms recently weighed in on MYL. JPMorgan Chase & Co. set a $53.00 target price on Mylan and gave the company a “buy” rating in a research report on Friday. TheStreet downgraded Mylan from a “b-” rating to a “c+” rating in a research report on Friday, February 9th. BidaskClub downgraded Mylan from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Susquehanna Bancshares restated a “positive” rating and issued a $55.00 price objective (up from $47.00) on shares of Mylan in a research report on Thursday, January 25th. Finally, Deutsche Bank set a $50.00 price objective on Mylan and gave the company a “buy” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $44.89.
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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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