Palouse Capital Management Inc. lowered its position in shares of Mylan Inc. (NASDAQ:MYL) by 7.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,364 shares of the company’s stock after selling 3,764 shares during the period. Palouse Capital Management Inc.’s holdings in Mylan were worth $1,920,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of MYL. Advisory Services Network LLC raised its position in Mylan by 43.6% in the second quarter. Advisory Services Network LLC now owns 2,537 shares of the company’s stock worth $110,000 after buying an additional 770 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Mylan by 100.4% in the second quarter. Tower Research Capital LLC TRC now owns 4,182 shares of the company’s stock worth $181,000 after buying an additional 2,095 shares during the last quarter. Parametrica Management Ltd purchased a new position in Mylan during the second quarter worth about $206,000. Rothschild Investment Corp IL raised its position in Mylan by 0.8% in the third quarter. Rothschild Investment Corp IL now owns 5,542 shares of the company’s stock worth $211,000 after buying an additional 42 shares during the last quarter. Finally, WFG Advisors LP raised its position in Mylan by 448.1% in the second quarter. WFG Advisors LP now owns 4,933 shares of the company’s stock worth $213,000 after buying an additional 4,033 shares during the last quarter. 60.26% of the stock is currently owned by institutional investors.
Shares of Mylan Inc. (NASDAQ:MYL) traded down 0.65% during mid-day trading on Thursday, hitting $36.95. The stock had a trading volume of 4,062,673 shares. The stock has a 50 day moving average of $37.35 and a 200-day moving average of $40.60. The stock has a market capitalization of $19.77 billion, a P/E ratio of 74.05 and a beta of 1.09. Mylan Inc. has a 52 week low of $33.60 and a 52 week high of $54.23.
Mylan (NASDAQ:MYL) last issued its quarterly earnings results on Wednesday, November 9th. The company reported $1.38 EPS for the quarter, missing the consensus estimate of $1.45 by $0.07. Mylan had a net margin of 2.50% and a return on equity of 22.04%. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period last year, the company posted $1.43 earnings per share. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities research analysts predict that Mylan Inc. will post $4.74 earnings per share for the current year.
MYL has been the subject of a number of recent analyst reports. BTIG Research reiterated a “buy” rating and issued a $55.00 price target on shares of Mylan in a research report on Tuesday, January 3rd. JPMorgan Chase & Co. set a $52.00 price objective on Mylan and gave the stock a “buy” rating in a research report on Tuesday, October 4th. Stifel Nicolaus restated a “positive” rating on shares of Mylan in a research report on Friday, December 30th. Deutsche Bank AG set a $58.00 price objective on Mylan and gave the stock a “buy” rating in a research report on Friday, September 23rd. Finally, Guggenheim restated a “neutral” rating on shares of Mylan in a research report on Thursday, January 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $51.66.
Mylan Company Profile
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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