State of New Jersey Common Pension Fund D Has $21.16 Million Position in Mylan NV (MYL)

State of New Jersey Common Pension Fund D increased its position in Mylan NV (NASDAQ:MYL) by 107.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 578,255 shares of the company’s stock after acquiring an additional 300,000 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.11% of Mylan worth $21,164,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bellevue Group AG increased its holdings in shares of Mylan by 114.7% in the 2nd quarter. Bellevue Group AG now owns 502,350 shares of the company’s stock worth $18,155,000 after acquiring an additional 268,400 shares during the period. Burney Co. increased its holdings in shares of Mylan by 18.4% in the 2nd quarter. Burney Co. now owns 128,245 shares of the company’s stock worth $4,635,000 after acquiring an additional 19,914 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Mylan by 12.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,237,468 shares of the company’s stock worth $80,863,000 after acquiring an additional 253,082 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Mylan by 14.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,132,430 shares of the company’s stock worth $185,499,000 after acquiring an additional 644,643 shares during the period. Finally, GAM Holding AG increased its holdings in shares of Mylan by 30.9% in the 2nd quarter. GAM Holding AG now owns 8,070 shares of the company’s stock worth $292,000 after acquiring an additional 1,907 shares during the period. 82.43% of the stock is currently owned by institutional investors and hedge funds.

Mylan stock opened at $32.42 on Friday. The stock has a market cap of $17.02 billion, a price-to-earnings ratio of 7.24, a P/E/G ratio of 1.06 and a beta of 1.43. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.77 and a current ratio of 1.29. Mylan NV has a 52 week low of $31.54 and a 52 week high of $47.82.

Mylan (NASDAQ:MYL) last released its earnings results on Wednesday, August 8th. The company reported $1.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by ($0.15). Mylan had a net margin of 3.90% and a return on equity of 18.48%. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the business posted $1.10 EPS. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. As a group, research analysts forecast that Mylan NV will post 4.64 earnings per share for the current year.

A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Mylan from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 9th. Morgan Stanley cut shares of Mylan from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $46.00 to $36.00 in a research note on Tuesday, October 9th. BidaskClub cut shares of Mylan from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 9th. Mizuho cut shares of Mylan from a “buy” rating to a “neutral” rating in a research note on Friday, October 5th. Finally, ValuEngine cut shares of Mylan from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $47.73.

About Mylan

Mylan N.V., together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic, brand name, and over-the-counter (OTC) products worldwide. The company operates through three segments: North America, Europe, and Rest of World. It offers pharmaceutical products in tablet, capsule, injectable, transdermal patch, gel, nebulized, and cream or ointment forms.

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Institutional Ownership by Quarter for Mylan (NASDAQ:MYL)

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