Synovus Financial Corp Raises Position in Mylan (MYL)

Synovus Financial Corp increased its position in Mylan (NASDAQ:MYL) by 7.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,921 shares of the company’s stock after purchasing an additional 2,045 shares during the quarter. Synovus Financial Corp’s holdings in Mylan were worth $1,309,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its position in Mylan by 76.9% in the third quarter. Meeder Asset Management Inc. now owns 3,393 shares of the company’s stock worth $106,000 after purchasing an additional 1,475 shares during the period. Rational Advisors LLC bought a new position in Mylan in the fourth quarter worth $190,000. BT Investment Management Ltd bought a new position in Mylan in the third quarter worth $142,000. Advisor Partners LLC bought a new position in Mylan in the fourth quarter worth $214,000. Finally, First Personal Financial Services lifted its position in Mylan by 77.1% in the fourth quarter. First Personal Financial Services now owns 4,839 shares of the company’s stock worth $205,000 after purchasing an additional 2,106 shares during the period. 76.86% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Heather M. Bresch sold 75,000 shares of the firm’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $45.00, for a total value of $3,375,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.69% of the company’s stock.

Several brokerages recently commented on MYL. Goldman Sachs Group raised their target price on Mylan from $46.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Citigroup reaffirmed a “buy” rating and issued a $58.00 target price (up from $48.00) on shares of Mylan in a research report on Thursday, January 4th. Leerink Swann began coverage on Mylan in a research report on Tuesday, January 2nd. They issued a “market perform” rating and a $44.00 target price for the company. Royal Bank of Canada raised their target price on Mylan from $32.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 7th. Finally, TheStreet raised Mylan from a “c” rating to a “b-” rating in a report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $44.89.

Mylan (NASDAQ MYL) opened at $41.21 on Thursday. Mylan has a twelve month low of $29.39 and a twelve month high of $47.82. The stock has a market capitalization of $22,176.28, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 1.12 and a beta of 1.35. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.95 and a current ratio of 1.46.

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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.

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Institutional Ownership by Quarter for Mylan (NASDAQ:MYL)

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