Mitsubishi UFJ Trust & Banking Corp reduced its stake in Mylan NV (NASDAQ:MYL) by 63.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 390,380 shares of the company’s stock after selling 690,761 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.08% of Mylan worth $14,288,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the business. Stratos Wealth Partners LTD. acquired a new stake in shares of Mylan in the 3rd quarter valued at approximately $183,000. FTB Advisors Inc. acquired a new stake in shares of Mylan in the 2nd quarter valued at approximately $188,000. Reilly Financial Advisors LLC lifted its holdings in shares of Mylan by 69.4% in the 3rd quarter. Reilly Financial Advisors LLC now owns 5,217 shares of the company’s stock valued at $191,000 after buying an additional 2,137 shares during the period. BB&T Corp acquired a new stake in shares of Mylan in the 3rd quarter valued at approximately $202,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of Mylan in the 2nd quarter valued at approximately $218,000. Institutional investors own 82.17% of the company’s stock.
Several equities analysts recently issued reports on MYL shares. Cowen reaffirmed a “hold” rating and set a $31.00 price objective on shares of Mylan in a report on Thursday, August 9th. ValuEngine raised Mylan from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. Royal Bank of Canada reduced their price objective on Mylan from $51.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 6th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Mylan in a report on Wednesday, August 15th. Finally, Mizuho cut Mylan from a “buy” rating to a “neutral” rating in a report on Friday, October 5th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $46.56.
Mylan (NASDAQ:MYL) last released its quarterly earnings results on Monday, November 5th. The company reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.06. Mylan had a return on equity of 19.39% and a net margin of 4.71%. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same period in the previous year, the firm posted $1.10 earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, research analysts predict that Mylan NV will post 4.66 earnings per share for the current year.
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Mylan Company Profile
Mylan N.V., together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic, brand name, and over-the-counter (OTC) products worldwide. The company operates through three segments: North America, Europe, and Rest of World. It offers pharmaceutical products in tablet, capsule, injectable, transdermal patch, gel, nebulized, and cream or ointment forms.
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