Mylan (NASDAQ:MYL) Trading 5.2% Higher Following Insider Buying Activity

Mylan NV (NASDAQ:MYL) traded up 5.2% on Friday after an insider bought additional shares in the company. The stock traded as high as $18.61 and last traded at $18.53, 5,910,069 shares changed hands during mid-day trading. A decline of 15% from the average session volume of 6,977,405 shares. The stock had previously closed at $17.61.

Specifically, Director Robert J. Coury bought 49,859 shares of Mylan stock in a transaction dated Friday, August 2nd. The stock was purchased at an average price of $20.06 per share, for a total transaction of $1,000,171.54. Following the purchase, the director now directly owns 947,194 shares in the company, valued at approximately $19,000,711.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard A. Mark bought 4,000 shares of Mylan stock in a transaction dated Wednesday, July 31st. The stock was purchased at an average price of $20.97 per share, with a total value of $83,880.00. Following the purchase, the director now owns 4,000 shares in the company, valued at $83,880. The disclosure for this purchase can be found here. Insiders have acquired a total of 63,859 shares of company stock valued at $1,275,152 in the last 90 days. 0.81% of the stock is currently owned by company insiders.

Several research firms have recently issued reports on MYL. Mizuho upped their target price on shares of Mylan from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. TheStreet lowered shares of Mylan from a “c-” rating to a “d+” rating in a research note on Friday, August 2nd. Evercore ISI reiterated a “buy” rating on shares of Mylan in a research note on Friday, August 9th. Morgan Stanley reiterated an “overweight” rating and issued a $25.00 target price (up previously from $22.00) on shares of Mylan in a research note on Tuesday, July 30th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $34.50 target price on shares of Mylan in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. Mylan currently has an average rating of “Buy” and an average target price of $30.43.

The firm has a market capitalization of $9.32 billion, a PE ratio of 4.05, a P/E/G ratio of 0.93 and a beta of 1.77. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.37 and a quick ratio of 0.77. The company’s fifty day simple moving average is $19.10 and its 200 day simple moving average is $23.57.

Mylan (NASDAQ:MYL) last released its quarterly earnings data on Monday, July 29th. The company reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.08. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.82 billion. Mylan had a net margin of 0.30% and a return on equity of 18.93%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. On average, analysts anticipate that Mylan NV will post 4.3 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Eaton Vance Management increased its position in shares of Mylan by 7.1% in the second quarter. Eaton Vance Management now owns 10,164 shares of the company’s stock worth $194,000 after purchasing an additional 677 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Mylan by 10.4% in the second quarter. California Public Employees Retirement System now owns 977,347 shares of the company’s stock worth $18,609,000 after purchasing an additional 92,006 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Mylan by 42.0% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 10,534 shares of the company’s stock worth $201,000 after purchasing an additional 3,115 shares during the last quarter. MidWestOne Financial Group Inc. bought a new position in shares of Mylan in the second quarter worth approximately $1,640,000. Finally, Factorial Partners LLC increased its position in shares of Mylan by 265.7% in the second quarter. Factorial Partners LLC now owns 12,800 shares of the company’s stock worth $244,000 after purchasing an additional 9,300 shares during the last quarter. Hedge funds and other institutional investors own 83.54% of the company’s stock.

About Mylan (NASDAQ:MYL)

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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