Bp Plc Invests $2.066 Million in Mylan (MYL)
Bp Plc bought a new stake in Mylan (NASDAQ:MYL) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 53,000 shares of the company’s stock, valued at approximately $2,066,000.
A number of other hedge funds also recently added to or reduced their stakes in MYL. Pzena Investment Management LLC purchased a new stake in shares of Mylan during the first quarter worth about $283,158,000. Norges Bank bought a new position in Mylan during the fourth quarter worth approximately $166,189,000. Appaloosa LP bought a new position in Mylan during the fourth quarter worth approximately $124,941,000. Renaissance Technologies LLC bought a new position in Mylan during the fourth quarter worth approximately $57,378,000. Finally, State Street Corp boosted its position in Mylan by 7.8% in the fourth quarter. State Street Corp now owns 19,942,043 shares of the company’s stock worth $760,788,000 after buying an additional 1,446,244 shares during the last quarter. 60.89% of the stock is currently owned by institutional investors.
Shares of Mylan (NASDAQ:MYL) opened at 39.18 on Thursday. The stock has a market cap of $21.00 billion, a PE ratio of 39.14 and a beta of 1.14. Mylan has a one year low of $33.60 and a one year high of $50.40. The stock’s 50 day moving average price is $38.11 and its 200-day moving average price is $38.84. Mylan also saw unusually large options trading on Tuesday. Stock investors acquired 19,968 put options on the stock. This is an increase of 576% compared to the average volume of 2,954 put options.
Mylan (NASDAQ:MYL) last released its earnings results on Wednesday, May 10th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.01. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.81 billion. Mylan had a return on equity of 22.04% and a net margin of 2.50%. The company’s revenue was up 24.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 EPS. On average, equities analysts predict that Mylan will post $5.17 earnings per share for the current fiscal year.
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MYL has been the topic of several research reports. Vetr cut shares of Mylan from a “strong-buy” rating to a “buy” rating and set a $44.68 price target on the stock. in a research report on Monday, February 6th. Zacks Investment Research upgraded shares of Mylan from a “sell” rating to a “hold” rating in a research note on Monday, February 27th. Mizuho reiterated a “buy” rating and issued a $47.00 price target on shares of Mylan in a research note on Tuesday, February 28th. Royal Bank of Canada set a $48.00 target price on shares of Mylan and gave the stock a “hold” rating in a research report on Thursday, March 2nd. Finally, Guggenheim restated a “neutral” rating on shares of Mylan in a research report on Friday, March 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $51.28.
In other Mylan news, major shareholder Laboratories Abbott sold 44,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 23rd. The stock was sold at an average price of $41.60, for a total value of $1,830,400,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.71% of the company’s stock.
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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