Convergence Investment Partners LLC boosted its stake in Mylan NV (NASDAQ:MYL) by 13.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,551 shares of the company’s stock after purchasing an additional 7,327 shares during the quarter. Convergence Investment Partners LLC’s holdings in Mylan were worth $1,006,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Watson Rebecca purchased a new stake in shares of Mylan in the 2nd quarter valued at about $26,000. Ameritas Investment Company LLC purchased a new stake in shares of Mylan in the 1st quarter valued at about $30,000. Edge Wealth Management LLC purchased a new stake in shares of Mylan in the 1st quarter valued at about $38,000. Verus Capital Partners LLC purchased a new stake in shares of Mylan in the 4th quarter valued at about $39,000. Finally, CWM LLC raised its holdings in shares of Mylan by 766.9% in the 1st quarter. CWM LLC now owns 2,748 shares of the company’s stock valued at $41,000 after acquiring an additional 2,431 shares in the last quarter. Institutional investors and hedge funds own 85.58% of the company’s stock.
Shares of MYL stock traded down $0.22 during trading hours on Friday, reaching $16.11. The company’s stock had a trading volume of 2,986,494 shares, compared to its average volume of 4,505,509. The stock has a market capitalization of $8.33 billion, a P/E ratio of 134.26, a P/E/G ratio of 1.72 and a beta of 1.54. Mylan NV has a one year low of $12.75 and a one year high of $23.11. The firm’s fifty day simple moving average is $16.21 and its 200 day simple moving average is $17.36. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 1.08.
Mylan (NASDAQ:MYL) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.04. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.65 billion. Mylan had a return on equity of 20.00% and a net margin of 0.54%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $0.82 EPS. As a group, equities research analysts forecast that Mylan NV will post 4.33 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on MYL shares. Royal Bank of Canada reissued a “buy” rating and set a $26.00 price objective on shares of Mylan in a report on Tuesday, May 12th. Wells Fargo & Co decreased their price target on Mylan from $23.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. BidaskClub cut Mylan from a “hold” rating to a “sell” rating in a research note on Thursday, July 23rd. UBS Group lifted their price target on Mylan from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Finally, Piper Sandler decreased their price target on Mylan from $23.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $20.50.
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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