Kentucky Retirement Systems Invests $615,000 in Mylan NV (NASDAQ:MYL)

Kentucky Retirement Systems bought a new stake in Mylan NV (NASDAQ:MYL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,429 shares of the company’s stock, valued at approximately $615,000.

Several other large investors also recently made changes to their positions in the company. Kinneret Advisory LLC purchased a new position in shares of Mylan during the fourth quarter valued at approximately $71,000. First Hawaiian Bank increased its position in shares of Mylan by 560.4% during the fourth quarter. First Hawaiian Bank now owns 2,886 shares of the company’s stock valued at $79,000 after acquiring an additional 2,449 shares in the last quarter. NuWave Investment Management LLC increased its position in shares of Mylan by 18.1% during the fourth quarter. NuWave Investment Management LLC now owns 3,136 shares of the company’s stock valued at $86,000 after acquiring an additional 480 shares in the last quarter. FNY Investment Advisers LLC increased its position in shares of Mylan by 42.8% during the fourth quarter. FNY Investment Advisers LLC now owns 3,300 shares of the company’s stock valued at $90,000 after acquiring an additional 989 shares in the last quarter. Finally, Fort L.P. bought a new stake in shares of Mylan during the fourth quarter valued at approximately $92,000. 83.68% of the stock is currently owned by hedge funds and other institutional investors.

In other Mylan news, insider Paul Campbell sold 11,533 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $27.50, for a total value of $317,157.50. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.81% of the company’s stock.

MYL has been the subject of several analyst reports. Zacks Investment Research raised shares of Mylan from a “hold” rating to a “strong-buy” rating and set a $34.00 price target for the company in a research report on Monday, January 21st. UBS Group downgraded shares of Mylan from a “buy” rating to a “neutral” rating and cut their target price for the stock from $54.00 to $32.00 in a research report on Wednesday, January 23rd. Credit Suisse Group reaffirmed a “buy” rating and issued a $37.00 target price on shares of Mylan in a research report on Wednesday, March 6th. Morgan Stanley raised shares of Mylan from an “equal weight” rating to an “overweight” rating and set a $35.00 target price for the company in a research report on Wednesday, March 6th. They noted that the move was a valuation call. Finally, SunTrust Banks initiated coverage on shares of Mylan in a research note on Tuesday, March 19th. They set a “buy” rating and a $35.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $39.89.

Mylan stock opened at $26.93 on Tuesday. Mylan NV has a twelve month low of $26.00 and a twelve month high of $42.50. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.83 and a current ratio of 1.39. The stock has a market capitalization of $13.92 billion, a PE ratio of 5.88, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48.

Mylan (NASDAQ:MYL) last posted its earnings results on Tuesday, February 26th. The company reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.06). The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.10 billion. Mylan had a return on equity of 19.06% and a net margin of 3.08%. The business’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.43 earnings per share. On average, equities analysts forecast that Mylan NV will post 4.38 earnings per share for the current fiscal year.

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Mylan Profile

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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