Franklin Resources Inc. lessened its stake in shares of Mylan (NASDAQ:MYL) by 44.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,783,647 shares of the company’s stock after selling 3,782,570 shares during the period. Franklin Resources Inc. owned 0.89% of Mylan worth $202,396,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Lingohr & Partner Asset Management GmbH raised its holdings in shares of Mylan by 5.0% during the 4th quarter. Lingohr & Partner Asset Management GmbH now owns 22,979 shares of the company’s stock worth $972,000 after acquiring an additional 1,100 shares during the period. Barings LLC raised its holdings in shares of Mylan by 9.1% during the 3rd quarter. Barings LLC now owns 17,906 shares of the company’s stock worth $562,000 after acquiring an additional 1,500 shares during the period. Amalgamated Bank raised its holdings in shares of Mylan by 3.4% during the 3rd quarter. Amalgamated Bank now owns 61,264 shares of the company’s stock worth $1,922,000 after acquiring an additional 1,991 shares during the period. Synovus Financial Corp increased its position in shares of Mylan by 7.1% during the 4th quarter. Synovus Financial Corp now owns 30,921 shares of the company’s stock worth $1,309,000 after purchasing an additional 2,045 shares during the last quarter. Finally, First Personal Financial Services increased its position in shares of Mylan by 77.1% during the 4th quarter. First Personal Financial Services now owns 4,839 shares of the company’s stock worth $205,000 after purchasing an additional 2,106 shares during the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.
Mylan (NASDAQ MYL) opened at $42.51 on Monday. The firm has a market capitalization of $21,883.37, a PE ratio of 9.32, a price-to-earnings-growth ratio of 1.35 and a beta of 1.35. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.13 and a quick ratio of 0.73. Mylan has a 52-week low of $29.39 and a 52-week high of $47.82.
A number of analysts recently issued reports on MYL shares. Cantor Fitzgerald set a $41.00 price objective on Mylan and gave the stock a “hold” rating in a research report on Tuesday, December 26th. Zacks Investment Research downgraded Mylan from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. UBS Group set a $46.00 price objective on Mylan and gave the stock a “buy” rating in a research report on Monday, December 4th. Susquehanna Bancshares reissued a “positive” rating and set a $55.00 price objective (up from $47.00) on shares of Mylan in a research report on Thursday, January 25th. Finally, Morgan Stanley raised Mylan from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $39.00 to $50.00 in a research report on Tuesday, March 6th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Mylan has an average rating of “Buy” and an average price target of $45.92.
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 Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony Mauro sold 12,257 shares of Mylan stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $40.35, for a total value of $494,569.95. Following the completion of the transaction, the insider now owns 147,435 shares of the company’s stock, valued at approximately $5,949,002.25. The disclosure for this sale can be found here. Insiders sold a total of 344,287 shares of company stock valued at $14,409,960 in the last quarter. Company insiders own 0.69% of the company’s stock.
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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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