Alliancebernstein L.P. grew its stake in shares of Mylan (NASDAQ:MYL) by 30.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,140,031 shares of the company’s stock after buying an additional 263,971 shares during the period. Alliancebernstein L.P. owned approximately 0.21% of Mylan worth $48,235,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in MYL. Rational Advisors LLC acquired a new position in Mylan in the fourth quarter worth about $190,000. First Personal Financial Services raised its position in Mylan by 77.1% in the fourth 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 in the last quarter. Lombard Odier Asset Management Europe Ltd acquired a new position in Mylan in the fourth quarter worth about $209,000. Mycio Wealth Partners LLC acquired a new position in Mylan in the fourth quarter worth about $212,000. Finally, Advisor Partners LLC acquired a new position in Mylan in the fourth quarter worth about $214,000. 84.82% of the stock is owned by institutional investors and hedge funds.
In other news, Director Robert J. Coury sold 150,000 shares of the stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $40.10, for a total transaction of $6,015,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Heather M. Bresch sold 75,000 shares of the stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $45.00, for a total transaction of $3,375,000.00. The disclosure for this sale can be found here. Insiders have sold 344,287 shares of company stock worth $14,409,960 over the last three months. 0.69% of the stock is owned by insiders.
Mylan (NASDAQ:MYL) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $1.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.02. Mylan had a net margin of 5.84% and a return on equity of 19.14%. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same quarter last year, the business posted $1.57 earnings per share. The company’s revenue was down .9% on a year-over-year basis. equities research analysts forecast that Mylan will post 5.38 EPS for the current year.
Several research firms recently issued reports on MYL. Morgan Stanley raised shares of Mylan from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $39.00 to $50.00 in a research report on Tuesday, March 6th. ValuEngine lowered shares of Mylan from a “buy” rating to a “hold” rating in a research report on Friday, March 2nd. UBS Group set a $54.00 price target on shares of Mylan and gave the stock a “buy” rating in a research report on Thursday, March 1st. Cantor Fitzgerald set a $41.00 price target on shares of Mylan and gave the stock a “hold” rating in a research report on Thursday, March 1st. Finally, JPMorgan Chase & Co. set a $53.00 price target on shares of Mylan and gave the stock a “buy” rating in a research report on Friday, February 16th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Mylan has a consensus rating of “Buy” and an average target price of $45.92.
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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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