Cypress Capital Group boosted its position in shares of Mylan (NASDAQ:MYL) by 37.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,079 shares of the company’s stock after buying an additional 3,579 shares during the period. Cypress Capital Group’s holdings in Mylan were worth $410,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. lifted its stake in shares of Mylan by 76.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,393 shares of the company’s stock valued at $106,000 after purchasing an additional 1,475 shares during the last quarter. BT Investment Management Ltd bought a new stake in shares of Mylan in the 3rd quarter valued at approximately $142,000. Global X Management Co. LLC lifted its stake in shares of Mylan by 59.2% in the 2nd quarter. Global X Management Co. LLC now owns 4,801 shares of the company’s stock valued at $186,000 after purchasing an additional 1,786 shares during the last quarter. Doliver Capital Advisors LP bought a new stake in shares of Mylan in the 2nd quarter valued at approximately $201,000. Finally, Sheaff Brock Investment Advisors LLC bought a new stake in shares of Mylan in the 2nd quarter valued at approximately $210,000. 75.04% of the stock is owned by institutional investors.
Shares of Mylan (NASDAQ MYL) opened at $39.29 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.46 and a debt-to-equity ratio of 1.05. Mylan has a fifty-two week low of $29.39 and a fifty-two week high of $45.87. The firm has a market capitalization of $21,183.87, a P/E ratio of 8.40, a PEG ratio of 2.16 and a beta of 1.38.
Mylan (NASDAQ:MYL) last issued its quarterly earnings results on Monday, November 6th. The company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.10). Mylan had a return on equity of 20.63% and a net margin of 7.28%. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the previous year, the company posted $1.38 earnings per share. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. research analysts anticipate that Mylan will post 4.56 EPS for the current year.
MYL has been the subject of several analyst reports. ValuEngine raised Mylan from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. BMO Capital Markets reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Mylan in a research note on Friday, September 29th. Mizuho reaffirmed a “buy” rating and issued a $37.00 price objective (down from $53.00) on shares of Mylan in a research note on Sunday, August 20th. Citigroup raised Mylan from a “neutral” rating to a “buy” rating and raised their price objective for the company from $36.00 to $42.00 in a research note on Wednesday, August 16th. Finally, BTIG Research raised their price objective on Mylan from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the stock. Mylan presently has an average rating of “Buy” and an average price target of $42.41.
TRADEMARK VIOLATION WARNING: This article was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The correct version of this article can be accessed at https://ledgergazette.com/2017/12/13/cypress-capital-group-increases-position-in-mylan-myl.html.
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.
Want to see what other hedge funds are holding MYL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mylan (NASDAQ:MYL).
Receive News & Ratings for Mylan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mylan and related companies with MarketBeat.com's FREE daily email newsletter.