Mylan NV (MYL) Position Cut by New Mexico Educational Retirement Board

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New Mexico Educational Retirement Board lessened its holdings in shares of Mylan NV (NASDAQ:MYL) by 2.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,949 shares of the company’s stock after selling 900 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Mylan were worth $1,217,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. grew its holdings in Mylan by 2.6% during the 4th quarter. BlackRock Inc. now owns 39,965,771 shares of the company’s stock valued at $1,095,061,000 after buying an additional 1,018,811 shares in the last quarter. Vanguard Group Inc grew its holdings in Mylan by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 35,774,112 shares of the company’s stock valued at $1,309,333,000 after buying an additional 506,649 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Mylan by 8.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 10,226,277 shares of the company’s stock valued at $374,280,000 after buying an additional 818,059 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Mylan by 15.0% in the 4th quarter. Geode Capital Management LLC now owns 7,875,204 shares of the company’s stock worth $215,460,000 after purchasing an additional 1,026,731 shares during the period. Finally, Norges Bank purchased a new position in shares of Mylan in the 4th quarter worth approximately $169,463,000. 83.68% of the stock is currently owned by institutional investors.

In related news, insider Paul Campbell sold 11,533 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $27.50, for a total value of $317,157.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.81% of the stock is owned by corporate insiders.

MYL has been the subject of a number of recent research reports. Zacks Investment Research upgraded Mylan from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a report on Tuesday, January 8th. UBS Group cut Mylan from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $54.00 to $32.00 in a report on Wednesday, January 23rd. Mizuho reiterated a “neutral” rating on shares of Mylan in a report on Thursday, January 31st. Sanford C. Bernstein cut Mylan from an “outperform” rating to a “market perform” rating and set a $33.00 target price for the company. in a report on Wednesday, February 27th. Finally, BMO Capital Markets lifted their target price on Mylan to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, February 27th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Mylan currently has an average rating of “Buy” and an average target price of $39.89.

Shares of MYL stock opened at $26.85 on Monday. Mylan NV has a 1-year low of $26.00 and a 1-year high of $42.50. The company has a current ratio of 1.39, a quick ratio of 0.83 and a debt-to-equity ratio of 1.17. The firm has a market cap of $13.85 billion, a P/E ratio of 5.86, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48.

Mylan (NASDAQ:MYL) last posted its quarterly earnings results on Tuesday, February 26th. The company reported $1.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.36 by ($0.06). The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.10 billion. Mylan had a net margin of 3.08% and a return on equity of 19.06%. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.43 EPS. On average, equities research analysts forecast that Mylan NV will post 4.38 earnings per share for the current fiscal year.

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About Mylan

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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Institutional Ownership by Quarter for Mylan (NASDAQ:MYL)

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