BlackRock Inc. Cuts Stake in Mylan (MYL)

BlackRock Inc. lessened its stake in shares of Mylan (NASDAQ:MYL) by 1.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 40,548,858 shares of the company’s stock after selling 541,661 shares during the quarter. BlackRock Inc. owned about 0.08% of Mylan worth $1,715,620,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of MYL. Meeder Asset Management Inc. lifted its stake in shares of Mylan by 76.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,393 shares of the company’s stock worth $106,000 after buying an additional 1,475 shares during the last quarter. BT Investment Management Ltd acquired a new stake in Mylan in the 3rd quarter worth about $142,000. Rational Advisors LLC acquired a new stake in Mylan in the 4th quarter worth about $190,000. First Personal Financial Services raised its stake in Mylan by 77.1% in the 4th quarter. First Personal Financial Services now owns 4,839 shares of the company’s stock worth $205,000 after purchasing an additional 2,106 shares in the last quarter. Finally, Mycio Wealth Partners LLC acquired a new stake in Mylan in the 4th quarter worth about $212,000. Institutional investors own 75.56% of the company’s stock.

Several analysts have weighed in on MYL shares. Zacks Investment Research cut shares of Mylan from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. BidaskClub upgraded shares of Mylan from a “hold” rating to a “buy” rating in a research note on Friday, October 27th. Leerink Swann started coverage on shares of Mylan in a research note on Tuesday, January 2nd. They issued a “market perform” rating and a $44.00 price objective for the company. Mizuho reiterated a “buy” rating and issued a $37.00 price objective on shares of Mylan in a research note on Tuesday, October 24th. Finally, Cantor Fitzgerald set a $34.00 price objective on shares of Mylan and gave the stock a “hold” rating in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $44.89.

Mylan (NASDAQ MYL) opened at $42.14 on Monday. The company has a market cap of $22,610.00, a P/E ratio of 25.39, a PEG ratio of 1.14 and a beta of 1.35. The company has a quick ratio of 0.95, a current ratio of 1.46 and a debt-to-equity ratio of 1.05. Mylan has a 12-month low of $29.39 and a 12-month high of $47.82.

In related news, CEO Heather M. Bresch sold 75,000 shares of Mylan stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $45.00, for a total transaction of $3,375,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.69% of the company’s stock.

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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.

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Institutional Ownership by Quarter for Mylan (NASDAQ:MYL)

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