BB&T Corp purchased a new stake in shares of Mylan NV (NASDAQ:MYL) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,519 shares of the company’s stock, valued at approximately $202,000.
Other institutional investors also recently modified their holdings of the company. First Mercantile Trust Co. acquired a new position in Mylan during the 2nd quarter valued at approximately $121,000. CENTRAL TRUST Co increased its stake in shares of Mylan by 1,057.8% in the second quarter. CENTRAL TRUST Co now owns 5,210 shares of the company’s stock worth $188,000 after acquiring an additional 4,760 shares during the period. FTB Advisors Inc. acquired a new stake in shares of Mylan in the second quarter worth $188,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Mylan in the second quarter worth $218,000. Finally, Zweig DiMenna Associates LLC acquired a new stake in shares of Mylan in the second quarter worth $235,000. Institutional investors and hedge funds own 82.91% of the company’s stock.
MYL has been the topic of a number of research reports. Wells Fargo & Co reiterated a “hold” rating on shares of Mylan in a research note on Thursday, August 2nd. ValuEngine upgraded shares of Mylan from a “strong sell” rating to a “sell” rating in a research note on Friday, August 3rd. Royal Bank of Canada upgraded shares of Mylan from a “sector perform” rating to an “outperform” rating and set a $53.00 price objective on the stock in a research note on Monday, August 13th. Mizuho lowered shares of Mylan from a “buy” rating to a “neutral” rating in a research note on Friday, October 5th. Finally, Morgan Stanley lowered shares of Mylan from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $46.00 to $36.00 in a research note on Tuesday, October 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Mylan presently has an average rating of “Hold” and a consensus price target of $47.73.
Mylan (NASDAQ:MYL) last released its quarterly earnings results on Wednesday, August 8th. The company reported $1.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by ($0.15). The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.95 billion. Mylan had a net margin of 3.90% and a return on equity of 18.48%. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.10 EPS. Research analysts predict that Mylan NV will post 4.64 earnings per share for the current year.
Mylan N.V., together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic, brand name, and over-the-counter (OTC) products worldwide. The company operates through three segments: North America, Europe, and Rest of World. It offers pharmaceutical products in tablet, capsule, injectable, transdermal patch, gel, nebulized, and cream or ointment forms.
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