HM Payson & Co. Buys New Position in Mylan NV (MYL)

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HM Payson & Co. bought a new position in shares of Mylan NV (NASDAQ:MYL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,090 shares of the company’s stock, valued at approximately $509,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Menora Mivtachim Holdings LTD. boosted its stake in shares of Mylan by 219.1% during the 1st quarter. Menora Mivtachim Holdings LTD. now owns 7,057,501 shares of the company’s stock worth $290,557,000 after acquiring an additional 4,845,703 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Mylan by 32.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,408,218 shares of the company’s stock valued at $340,012,000 after buying an additional 2,284,545 shares in the last quarter. Orbimed Advisors LLC lifted its stake in Mylan by 77.7% in the 2nd quarter. Orbimed Advisors LLC now owns 3,702,800 shares of the company’s stock valued at $133,819,000 after buying an additional 1,618,500 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in Mylan by 221.4% in the 1st quarter. OppenheimerFunds Inc. now owns 1,607,915 shares of the company’s stock valued at $66,198,000 after buying an additional 1,107,667 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS purchased a new stake in Mylan in the 2nd quarter valued at approximately $38,614,000. Institutional investors and hedge funds own 82.33% of the company’s stock.

NASDAQ:MYL traded down $0.49 on Friday, reaching $32.11. The stock had a trading volume of 8,031,734 shares, compared to its average volume of 4,740,789. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.29 and a quick ratio of 0.77. Mylan NV has a 12-month low of $31.54 and a 12-month high of $47.82. The stock has a market cap of $18.87 billion, a P/E ratio of 7.04, a PEG ratio of 1.16 and a beta of 1.43.

Mylan (NASDAQ:MYL) last issued its quarterly earnings results on Wednesday, August 8th. The company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.15). Mylan had a return on equity of 18.48% and a net margin of 3.90%. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the previous year, the business posted $1.10 EPS. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, equities analysts expect that Mylan NV will post 4.68 earnings per share for the current year.

A number of equities research analysts recently issued reports on MYL shares. Morgan Stanley lowered Mylan from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $46.00 to $36.00 in a research note on Tuesday. Mizuho lowered Mylan from a “buy” rating to a “neutral” rating in a research note on Friday, October 5th. ValuEngine lowered Mylan from a “hold” rating to a “sell” rating in a research note on Tuesday, September 11th. Cowen restated a “hold” rating and set a $31.00 price objective on shares of Mylan in a report on Thursday, August 9th. Finally, Wells Fargo & Co restated a “hold” rating on shares of Mylan in a report on Wednesday, August 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $47.73.

About Mylan

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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Institutional Ownership by Quarter for Mylan (NASDAQ:MYL)

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