Sumitomo Life Insurance Co. Buys 21,087 Shares of Mylan N.V. (MYL)

Sumitomo Life Insurance Co. increased its position in Mylan N.V. (NASDAQ:MYL) by 135.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,711 shares of the company’s stock after buying an additional 21,087 shares during the period. Sumitomo Life Insurance Co.’s holdings in Mylan N.V. were worth $1,425,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MYL. Advisors Capital Management LLC boosted its position in shares of Mylan N.V. by 4.7% in the second quarter. Advisors Capital Management LLC now owns 86,329 shares of the company’s stock valued at $3,351,000 after buying an additional 3,854 shares in the last quarter. Bank of The West increased its position in Mylan N.V. by 4.9% in the first quarter. Bank of The West now owns 72,582 shares of the company’s stock valued at $2,830,000 after buying an additional 3,360 shares during the period. Wade G W & Inc. increased its position in Mylan N.V. by 3.6% in the first quarter. Wade G W & Inc. now owns 6,156 shares of the company’s stock valued at $240,000 after buying an additional 213 shares during the period. Mn Services Vermogensbeheer B.V. increased its position in Mylan N.V. by 508.8% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 73,842 shares of the company’s stock valued at $2,867,000 after buying an additional 61,712 shares during the period. Finally, Baird Financial Group Inc. increased its position in Mylan N.V. by 10.0% in the first quarter. Baird Financial Group Inc. now owns 756,355 shares of the company’s stock valued at $29,490,000 after buying an additional 68,967 shares during the period. Institutional investors own 71.57% of the company’s stock.

Mylan N.V. (NASDAQ MYL) opened at 30.72 on Friday. Mylan N.V. has a 12 month low of $29.39 and a 12 month high of $49.09. The company’s 50-day moving average is $36.12 and its 200-day moving average is $38.80. The company has a market cap of $16.47 billion, a price-to-earnings ratio of 24.83 and a beta of 1.27.

Mylan N.V. (NASDAQ:MYL) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by $0.08. Mylan N.V. had a return on equity of 22.42% and a net margin of 5.51%. The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the previous year, the business earned $1.16 earnings per share. Mylan N.V.’s revenue was up 15.7% compared to the same quarter last year. On average, equities research analysts anticipate that Mylan N.V. will post $4.52 earnings per share for the current year.

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Several analysts recently commented on MYL shares. Royal Bank Of Canada set a $41.00 price target on shares of Mylan N.V. and gave the stock a “hold” rating in a report on Saturday, May 13th. Cowen and Company restated a “hold” rating and set a $30.00 price target (down from $43.00) on shares of Mylan N.V. in a report on Wednesday, August 9th. Wells Fargo & Company set a $30.00 price target on shares of Mylan N.V. and gave the stock a “hold” rating in a report on Wednesday, August 9th. Cantor Fitzgerald set a $34.00 price target on shares of Mylan N.V. and gave the stock a “hold” rating in a report on Wednesday, August 9th. Finally, BMO Capital Markets restated an “outperform” rating and set a $45.00 price target (down from $50.00) on shares of Mylan N.V. in a report on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $47.73.

In related news, insider Anthony Mauro sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $40.00, for a total transaction of $400,000.00. Following the transaction, the insider now directly owns 140,653 shares in the company, valued at approximately $5,626,120. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Rajiv Malik sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $40.00, for a total value of $1,000,000.00. Following the transaction, the president now owns 799,855 shares in the company, valued at $31,994,200. The disclosure for this sale can be found here. 0.69% of the stock is owned by company insiders.

About Mylan N.V.

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.

Institutional Ownership by Quarter for Mylan N.V. (NASDAQ:MYL)

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