Today: First Midwest Bank Trust Division Reduces Position in Mylan Inc. (MYL)

Today: First Midwest Bank Trust Division Reduces Position in Mylan Inc. (MYL)

First Midwest Bank Trust Division cut its position in shares of Mylan Inc. (NASDAQ:MYL) by 10.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,693 shares of the company’s stock after selling 5,841 shares during the period. First Midwest Bank Trust Division’s holdings in Mylan were worth $1,856,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Mylan by 5.7% in the second quarter. Vanguard Group Inc. now owns 26,441,320 shares of the company’s stock valued at $1,143,323,000 after buying an additional 1,431,929 shares during the period. State Street Corp boosted its position in Mylan by 1.9% in the second quarter. State Street Corp now owns 17,057,413 shares of the company’s stock valued at $737,566,000 after buying an additional 315,552 shares during the period. BlackRock Fund Advisors boosted its position in Mylan by 11.0% in the second quarter. BlackRock Fund Advisors now owns 12,112,864 shares of the company’s stock valued at $523,760,000 after buying an additional 1,204,050 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Mylan by 4.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 10,995,727 shares of the company’s stock valued at $475,455,000 after buying an additional 509,821 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Mylan by 56.4% in the second quarter. Bank of New York Mellon Corp now owns 8,066,095 shares of the company’s stock valued at $348,779,000 after buying an additional 2,908,633 shares during the period. Hedge funds and other institutional investors own 60.29% of the company’s stock.

Mylan Inc. (NASDAQ:MYL) opened at 36.68 on Monday. The firm has a 50-day moving average of $37.25 and a 200-day moving average of $42.17. The stock has a market capitalization of $19.63 billion, a price-to-earnings ratio of 73.51 and a beta of 1.10. Mylan Inc. has a 12-month low of $33.60 and a 12-month high of $55.51.

Mylan (NASDAQ:MYL) last posted its earnings results on Wednesday, November 9th. The company reported $1.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by $0.07. The company earned $3.06 billion during the quarter, compared to the consensus estimate of $3.12 billion. Mylan had a net margin of 2.50% and a return on equity of 22.04%. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.43 earnings per share. Equities research analysts forecast that Mylan Inc. will post $4.76 earnings per share for the current fiscal year.

Several analysts have recently weighed in on the stock. Leerink Swann boosted their price objective on shares of Mylan from $51.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, August 15th. TheStreet upgraded shares of Mylan from a “hold” rating to a “buy” rating in a research report on Friday, August 12th. Zacks Investment Research downgraded shares of Mylan from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Bank of America Corp. reiterated a “buy” rating and issued a $70.00 price target on shares of Mylan in a research report on Wednesday, August 24th. Finally, BTIG Research reiterated a “buy” rating and issued a $60.00 price target on shares of Mylan in a research report on Tuesday, August 30th. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $52.83.

Mylan Company Profile

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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