Mylan (NASDAQ:MYL) Shares Bought by Wells Fargo & Company MN
Wells Fargo & Company MN increased its stake in Mylan (NASDAQ:MYL) by 72.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,560,305 shares of the company’s stock after buying an additional 1,079,696 shares during the quarter. Wells Fargo & Company MN owned approximately 0.48% of Mylan worth $108,326,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MYL. Pzena Investment Management LLC increased its position in shares of Mylan by 84.1% in the third quarter. Pzena Investment Management LLC now owns 22,721,384 shares of the company’s stock worth $712,770,000 after purchasing an additional 10,381,697 shares during the period. Greenlight Capital Inc. grew its position in Mylan by 0.4% in the third quarter. Greenlight Capital Inc. now owns 10,744,307 shares of the company’s stock valued at $337,048,000 after acquiring an additional 42,600 shares during the last quarter. Bank of New York Mellon Corp grew its position in Mylan by 6.0% in the third quarter. Bank of New York Mellon Corp now owns 4,095,700 shares of the company’s stock valued at $128,481,000 after acquiring an additional 232,762 shares during the last quarter. Orbimed Advisors LLC grew its position in Mylan by 20.9% in the third quarter. Orbimed Advisors LLC now owns 3,601,100 shares of the company’s stock valued at $112,967,000 after acquiring an additional 621,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Mylan by 20.8% in the third quarter. Dimensional Fund Advisors LP now owns 3,553,480 shares of the company’s stock valued at $111,450,000 after acquiring an additional 612,513 shares during the last quarter. 84.82% of the stock is owned by institutional investors.
A number of brokerages have recently commented on MYL. Zacks Investment Research lowered Mylan from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Leerink Swann assumed coverage on Mylan in a research note on Tuesday, January 2nd. They issued a “market perform” rating and a $44.00 price objective on the stock. Cantor Fitzgerald set a $41.00 price objective on Mylan and gave the stock a “hold” rating in a research note on Thursday, March 1st. BidaskClub raised Mylan from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 19th. Finally, TheStreet raised Mylan from a “c” rating to a “b-” rating in a research note on Wednesday, January 17th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $46.62.
Mylan (NASDAQ:MYL) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.02. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Mylan had a return on equity of 19.14% and a net margin of 5.84%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.57 EPS. equities research analysts expect that Mylan will post 5.38 earnings per share for the current fiscal year.
In other news, insider Paul Campbell sold 7,030 shares of the stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $44.01, for a total transaction of $309,390.30. Following the transaction, the insider now directly owns 17,054 shares in the company, valued at approximately $750,546.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert J. Coury sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $43.41, for a total value of $2,170,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 344,287 shares of company stock worth $14,409,960 in the last three months. 0.69% of the stock is currently owned by insiders.
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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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