Regent Investment Management LLC reduced its stake in Mylan NV (NASDAQ:MYL) by 44.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,175 shares of the company’s stock after selling 17,000 shares during the period. Regent Investment Management LLC’s holdings in Mylan were worth $340,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of MYL. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Mylan by 16.9% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 522,095 shares of the company’s stock valued at $14,796,000 after purchasing an additional 75,655 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Mylan by 106.2% during the fourth quarter. Advisors Asset Management Inc. now owns 25,702 shares of the company’s stock valued at $517,000 after purchasing an additional 13,240 shares in the last quarter. Man Group plc boosted its stake in shares of Mylan by 20.5% during the fourth quarter. Man Group plc now owns 217,086 shares of the company’s stock valued at $4,364,000 after purchasing an additional 36,968 shares in the last quarter. Sunbelt Securities Inc. bought a new position in shares of Mylan during the fourth quarter valued at approximately $2,940,000. Finally, Verus Capital Partners LLC bought a new position in shares of Mylan during the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 85.58% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. Wells Fargo & Co dropped their price objective on shares of 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 downgraded shares of Mylan from a “hold” rating to a “sell” rating in a research note on Thursday, July 23rd. Royal Bank of Canada restated a “buy” rating and issued a $26.00 target price on shares of Mylan in a research note on Tuesday, May 12th. Piper Sandler lowered their target price on shares of Mylan from $23.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, April 15th. Finally, UBS Group raised their target price on shares of Mylan from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $20.50.
Mylan (NASDAQ:MYL) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.04. The business had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.65 billion. Mylan had a net margin of 0.54% and a return on equity of 20.00%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company posted $0.82 earnings per share. As a group, sell-side analysts forecast that Mylan NV will post 4.33 earnings per share for the current year.
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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