Bank of New York Mellon Corp cut its stake in Mylan Inc. (NASDAQ:MYL) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,897,872 shares of the company’s stock after selling 168,223 shares during the period. Bank of New York Mellon Corp owned 1.48% of Mylan worth $301,066,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. raised its stake in shares of Mylan by 44.3% in the third quarter. Victory Capital Management Inc. now owns 20,470 shares of the company’s stock valued at $780,000 after buying an additional 6,281 shares during the period. TD Asset Management Inc. raised its stake in shares of Mylan by 12.6% in the third quarter. TD Asset Management Inc. now owns 225,201 shares of the company’s stock valued at $8,585,000 after buying an additional 25,257 shares during the period. Lockheed Martin Investment Management Co. acquired a new stake in shares of Mylan during the third quarter valued at $1,105,000. Bank of Hawaii acquired a new stake in shares of Mylan during the third quarter valued at $267,000. Finally, State Treasurer State of Michigan raised its stake in shares of Mylan by 8.2% in the third quarter. State Treasurer State of Michigan now owns 160,593 shares of the company’s stock valued at $6,122,000 after buying an additional 12,200 shares during the period. Institutional investors own 60.29% of the company’s stock.

Institutional Ownership by Quarter for Mylan (NASDAQ:MYL)

Mylan Inc. (NASDAQ:MYL) opened at 36.74 on Tuesday. The firm has a market cap of $19.66 billion, a PE ratio of 73.63 and a beta of 1.10. Mylan Inc. has a 12-month low of $33.60 and a 12-month high of $55.51. The stock has a 50 day moving average of $37.27 and a 200 day moving average of $42.19.

Mylan (NASDAQ:MYL) last issued its quarterly earnings data on Wednesday, November 9th. The company reported $1.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by $0.07. The business earned $3.06 billion during the quarter, compared to the consensus estimate of $3.12 billion. Mylan had a net margin of 2.50% and a return on equity of 22.04%. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.43 EPS. On average, equities research analysts anticipate that Mylan Inc. will post $4.76 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Mylan Inc. (MYL) Shares Sold by Bank of New York Mellon Corp” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of US & international copyright and trademark laws. The original version of this news story can be accessed at https://www.thecerbatgem.com/2016/11/29/mylan-inc-myl-shares-sold-by-bank-of-new-york-mellon-corp.html.

Several equities analysts recently issued reports on MYL shares. Mizuho cut their price target on shares of Mylan from $49.00 to $47.00 and set a “buy” rating for the company in a report on Friday, November 18th. Leerink Swann set a $45.00 price target on shares of Mylan and gave the company a “buy” rating in a report on Saturday, October 1st. TheStreet raised shares of Mylan from a “hold” rating to a “buy” rating in a report on Friday, August 12th. BTIG Research reissued a “buy” rating and set a $60.00 price target on shares of Mylan in a report on Tuesday, August 30th. Finally, JPMorgan Chase & Co. set a $52.00 price target on shares of Mylan and gave the company a “buy” rating in a report on Tuesday, October 4th. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Mylan currently has an average rating of “Buy” and an average price target of $52.83.

About Mylan

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.

5 Day Chart for NASDAQ:MYL

Receive News & Stock Ratings for Mylan Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mylan Inc. and related stocks with our FREE daily email newsletter.