Cumberland Advisors Inc. Purchases 700 Shares of Mylan NV (NASDAQ:MYL)

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Cumberland Advisors Inc. grew its stake in shares of Mylan NV (NASDAQ:MYL) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,730 shares of the company’s stock after purchasing an additional 700 shares during the period. Cumberland Advisors Inc.’s holdings in Mylan were worth $667,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MYL. Vanguard Group Inc. raised its holdings in shares of Mylan by 19.2% during the second quarter. Vanguard Group Inc. now owns 56,048,375 shares of the company’s stock valued at $1,067,160,000 after purchasing an additional 9,026,215 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of Mylan by 824.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,681,501 shares of the company’s stock worth $31,898,000 after acquiring an additional 1,499,579 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Mylan by 312.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,769,543 shares of the company’s stock worth $33,692,000 after acquiring an additional 1,340,643 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Mylan by 11.0% in the 2nd quarter. AQR Capital Management LLC now owns 11,247,227 shares of the company’s stock worth $213,473,000 after acquiring an additional 1,111,009 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Mylan by 3,006.8% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 984,129 shares of the company’s stock worth $18,738,000 after acquiring an additional 952,452 shares during the last quarter. Hedge funds and other institutional investors own 84.75% of the company’s stock.

A number of research firms recently weighed in on MYL. SunTrust Banks upped their target price on shares of Mylan from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Credit Suisse Group restated a “buy” rating and issued a $34.50 target price on shares of Mylan in a report on Wednesday, July 31st. BidaskClub lowered shares of Mylan from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. ValuEngine upgraded shares of Mylan from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Evercore ISI reiterated a “buy” rating on shares of Mylan in a research note on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $30.03.

In other Mylan news, Director Richard A. Mark acquired 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was bought at an average cost of $20.97 per share, with a total value of $83,880.00. Following the acquisition, the director now owns 4,000 shares in the company, valued at $83,880. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert J. Coury acquired 49,859 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $20.06 per share, with a total value of $1,000,171.54. Following the completion of the acquisition, the director now owns 947,194 shares in the company, valued at approximately $19,000,711.64. The disclosure for this purchase can be found here. Insiders have bought a total of 83,859 shares of company stock valued at $1,628,752 over the last three months. Insiders own 0.81% of the company’s stock.

Shares of Mylan stock traded up $0.58 on Friday, reaching $19.05. 2,533,545 shares of the company traded hands, compared to its average volume of 5,264,462. Mylan NV has a 52 week low of $16.63 and a 52 week high of $37.56. The company has a 50 day moving average of $19.86 and a 200 day moving average of $21.03. The firm has a market capitalization of $9.53 billion, a PE ratio of 4.16, a PEG ratio of 0.88 and a beta of 1.80. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.37 and a quick ratio of 0.77.

Mylan (NASDAQ:MYL) last released its earnings results on Monday, July 29th. The company reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.08. Mylan had a net margin of 0.30% and a return on equity of 18.93%. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the firm earned $1.07 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. As a group, analysts anticipate that Mylan NV will post 4.27 earnings per share for the current year.

About Mylan

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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Institutional Ownership by Quarter for Mylan (NASDAQ:MYL)

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