Gateway Investment Advisers LLC Sells 818 Shares of Mylan NV (NASDAQ:MYL)

Gateway Investment Advisers LLC reduced its stake in Mylan NV (NASDAQ:MYL) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,463 shares of the company’s stock after selling 818 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Mylan were worth $371,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vicus Capital increased its holdings in shares of Mylan by 5.3% during the first quarter. Vicus Capital now owns 7,874 shares of the company’s stock worth $223,000 after purchasing an additional 396 shares during the period. Pinnacle Bank increased its holdings in shares of Mylan by 66.4% during the first quarter. Pinnacle Bank now owns 1,060 shares of the company’s stock worth $30,000 after purchasing an additional 423 shares during the period. Global Retirement Partners LLC increased its holdings in shares of Mylan by 107.1% during the first quarter. Global Retirement Partners LLC now owns 967 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares during the period. Securian Asset Management Inc increased its holdings in shares of Mylan by 1.0% during the first quarter. Securian Asset Management Inc now owns 52,672 shares of the company’s stock worth $1,493,000 after purchasing an additional 529 shares during the period. Finally, Piedmont Investment Advisors Inc. increased its holdings in shares of Mylan by 8.7% during the first quarter. Piedmont Investment Advisors Inc. now owns 8,335 shares of the company’s stock worth $236,000 after purchasing an additional 670 shares during the period. 83.76% of the stock is currently owned by hedge funds and other institutional investors.

Mylan stock traded up $0.26 during mid-day trading on Tuesday, reaching $18.31. The company had a trading volume of 443,293 shares, compared to its average volume of 5,758,533. Mylan NV has a fifty-two week low of $16.63 and a fifty-two week high of $39.59. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.85 and a current ratio of 1.51. The firm has a market cap of $9.30 billion, a P/E ratio of 4.01, a P/E/G ratio of 0.94 and a beta of 1.76. The company has a fifty day moving average of $18.35.

Mylan (NASDAQ:MYL) last issued its earnings results on Tuesday, May 7th. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. Mylan had a net margin of 2.14% and a return on equity of 18.96%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the business posted $0.96 earnings per share. The company’s quarterly revenue was down 7.0% on a year-over-year basis. Sell-side analysts predict that Mylan NV will post 4.26 earnings per share for the current fiscal year.

Several brokerages have recently commented on MYL. Royal Bank of Canada cut shares of Zayo Group from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $33.00 to $35.00 in a report on Wednesday, May 8th. Wells Fargo & Co cut shares of Mylan from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $33.00 to $22.00 in a report on Tuesday, May 7th. Zacks Investment Research cut shares of German American Bancorp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Argus lowered their target price on shares of Mylan to $32.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Finally, BMO Capital Markets cut shares of Capital Power from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the stock. Mylan presently has a consensus rating of “Buy” and a consensus price target of $33.65.

Mylan Company Profile

Mylan N.V., together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic, branded-generic, brand-name, and over-the-counter (OTC) pharmaceutical products in North America, Europe, and internationally. It offers active pharmaceutical ingredients and finished dosage forms; and antiretroviral medicines to treat HIV/AIDS.

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Institutional Ownership by Quarter for Mylan (NASDAQ:MYL)

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