Kendall Capital Management purchased a new position in shares of Mylan (NASDAQ:MYL) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 13,460 shares of the company’s stock, valued at approximately $569,000.
Several other hedge funds have also modified their holdings of the company. Guggenheim Capital LLC increased its position in shares of Mylan by 5.1% during the fourth quarter. Guggenheim Capital LLC now owns 1,637,178 shares of the company’s stock valued at $69,269,000 after purchasing an additional 79,902 shares during the period. Jafra Capital Management LP bought a new stake in Mylan in the fourth quarter valued at $5,289,000. Clearbridge LLC grew its position in Mylan by 7.6% in the fourth quarter. Clearbridge LLC now owns 2,162,373 shares of the company’s stock valued at $91,490,000 after acquiring an additional 152,705 shares during the period. Clearbridge Investments LLC grew its position in Mylan by 94.1% in the fourth quarter. Clearbridge Investments LLC now owns 2,444,398 shares of the company’s stock valued at $103,422,000 after acquiring an additional 1,185,277 shares during the period. Finally, Brandywine Global Investment Management LLC grew its position in Mylan by 0.9% in the fourth quarter. Brandywine Global Investment Management LLC now owns 1,705,749 shares of the company’s stock valued at $72,171,000 after acquiring an additional 15,077 shares during the period. Institutional investors own 84.82% of the company’s stock.
Shares of Mylan (MYL) opened at $42.51 on Monday. Mylan has a fifty-two week low of $29.39 and a fifty-two week high of $47.82. The stock has a market capitalization of $21,883.37, a PE ratio of 9.32, a price-to-earnings-growth ratio of 1.35 and a beta of 1.35. The company has a quick ratio of 0.73, a current ratio of 1.13 and a debt-to-equity ratio of 1.06.
A number of equities analysts have commented on the company. BidaskClub lowered Mylan from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 26th. Susquehanna Bancshares reissued a “positive” rating and issued a $55.00 price objective (up previously from $47.00) on shares of Mylan in a research note on Thursday, January 25th. Zacks Investment Research raised Mylan from a “sell” rating to a “hold” rating in a research note on Tuesday, January 16th. Morgan Stanley raised Mylan from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $39.00 to $50.00 in a research note on Tuesday, March 6th. Finally, Guggenheim assumed coverage on Mylan in a research note on Tuesday, December 12th. They issued a “buy” rating and a $59.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Mylan has a consensus rating of “Buy” and a consensus target price of $45.92.
In related news, insider Anthony Mauro sold 12,257 shares of the stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $40.35, for a total transaction of $494,569.95. Following the completion of the transaction, the insider now directly owns 147,435 shares in the company, valued at $5,949,002.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Heather M. Bresch sold 75,000 shares of the stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $45.00, for a total value of $3,375,000.00. The disclosure for this sale can be found here. Insiders sold 344,287 shares of company stock valued at $14,409,960 over the last 90 days. Corporate insiders own 0.69% of the company’s stock.
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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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