Wellington Management Co. LLP recently announced the acquisition of new stake in Mylan N.V. (NASDAQ:MYL). The institutional investor has increased its shareholding in the Healthcare company by 2.33% to 58.09 million shares with purchase of 1.32 million shares. This fresh investment now brings its stake to 11.24% valued currently at $935.78 million. In addition, BlackRock Fund Advisors raised its holdings by 0.63 million to 31.35 million shares. And SSgA Funds Management, Inc. has lifted its position by 4.87% or 1.13 million shares – to 24.24 million shares.
With over 9.44 million Mylan N.V. (MYL) shares trading Tuesday and a closing price of $15.50 on the day, the dollar volume was approximately $146.28 million. The shares have shown a negative weekly performance of -3.31% and its price on 09/01/20 lost nearly -5.37%. Currently, there are 516.90M common shares owned by the public and among those 510.93M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 16 analysts who have offered their price forecasts for MYL have a consensus price objective of $22.14. The analysts have set the share’s price value over the next 12 months at a high of $29.00 and a low of $17.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Mylan N.V. stock is 2.30 for the next 12 months. The average price target is 29.96% above its last price level and an upside to the estimated low will see the stock gain 8.82% over that period. But an upside of 46.55% will see the stock hit the forecast high price target while mean target price for the stock is $20.50.
Insiders at the company have transacted a total of 66 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 35 of these insider trades were purchases, accounting for 408,860 shares. Insider sales of the common stock occurred on 31 occasions, with total insider shares sold totaling 170,605 shares.
The top 3 mutual fund holders in Mylan N.V. are Vanguard Health Care Fund, Vanguard Total Stock Market Index, and Vanguard Mid Cap Index Fund. Vanguard Health Care Fund owns 50.19 million shares of the company’s stock, all valued at over $808.49 million. The company bought an additional 1.47 million shares recently to bring their total holdings to about 9.71% of the shares outstanding. Vanguard Total Stock Market Index sold 53682.0 shares to see its total holdings shrink to 14.7 million shares valued at over $236.76 million and representing 2.84% of the shares outstanding. Vanguard Mid Cap Index Fund sold 99412.0 shares to bring its total holdings to over 12.68 million shares at a value of $204.33 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.45% of the shares outstanding.
Shares of Mylan N.V. (NASDAQ: MYL) opened at $16.30, down -$0.08 from a prior closing price of $16.38. However, the script later closed the day at $15.50, down -5.37%. The company’s stock has a 5-day price change of -3.31% and -11.63% over the past three months. MYL shares are trading -22.89% year to date (YTD), with the 12-month market performance down to -19.56% lower. It has a 12-month low price of $12.75 and touched a high of $23.11 over the same period. Currently, 9.44 million shares have been traded, compared to an average intraday trading volume of 5.37 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.98%, -4.90%, and -11.68% respectively.
Institutional ownership of Mylan N.V. (NASDAQ: MYL) shares accounts for 91.80% of the company’s 516.90M shares outstanding. Mutual fund holders own 5.67%, while other institutional holders and individual stakeholders account for 50.36% and 40.72% respectively.
It has a market capitalization of $7.99B and a beta (3y monthly) value of 1.50. The stock’s trailing 12-month PE ratio is 29.58, while the earnings-per-share (ttm) stands at $0.52. The company has a PEG of 12.59 and a Quick Ratio of 0.50 with the debt-to-equity ratio at 1.03. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.19% over the week and 3.49% over the month.
Analysts forecast that Mylan N.V. (MYL) will achieve an EPS of $1.17 for the current quarter, $1.35 for the next quarter and $4.69 for 2021. The lowest estimate earnings-per-share for the quarter is $1.09 while analysts give the company a high EPS estimate of $1.33. Comparatively, EPS for the current quarter was $1.17 a year ago. Earnings per share for the fiscal year are expected to decrease by -95.00%, and 3.33% over the next financial year. EPS should grow at an annualized rate of 2.35% over the next five years, compared to -58.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate Mylan N.V. (MYL) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 8 of the 16 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MYL, a number of firms have released research notes about the stock. SVB Leerink stated their Mkt Perform rating for the stock in a research note on January 27, 2020, with the firm’s price target at $24. Piper Sandler coverage for the Mylan N.V. (MYL) stock in a research note released on January 09, 2020 offered a Neutral rating with a price target of $21. Morgan Stanley was of a view on November 07, 2019 that the stock is Equal-Weight, while CFRA gave the stock Sell rating on November 05, 2019, issuing a price target of. Wolfe Research on their part issued Outperform rating on July 19, 2019.