Stock Traders Buy High Volume of Mead Johnson Nutrition Put Options (MJN)
Mead Johnson Nutrition (NYSE:MJN) was the target of unusually large options trading on Thursday. Investors bought 18,301 put options on the stock, American Banking & Market News reports. This is an increase of 568% compared to the typical daily volume of 2,741 put options.
MJN has been the subject of a number of recent research reports. Analysts at Deutsche Bank raised their price target on shares of Mead Johnson Nutrition from $86.00 to $94.00 in a research note to investors on Monday, December 9th. They now have a “buy” rating on the stock. Finally, analysts at Oppenheimer upgraded shares of Mead Johnson Nutrition from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday, November 19th. They now have a $100.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Mead Johnson Nutrition has an average rating of “Hold” and a consensus price target of $85.51.
Shares of Mead Johnson Nutrition (NYSE:MJN) traded down 0.04% during mid-day trading on Thursday, hitting $84.23. 1,303,134 shares of the company’s stock traded hands. Mead Johnson Nutrition has a 52-week low of $65.38 and a 52-week high of $86.87. The stock’s 50-day moving average is $83.96 and its 200-day moving average is $78.39. The company has a market cap of $17.013 billion and a price-to-earnings ratio of 27.19.
Mead Johnson Nutrition (NYSE:MJN) last announced its earnings results on Thursday, October 24th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.12. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $998.04 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. Analysts expect that Mead Johnson Nutrition will post $3.37 EPS for the current fiscal year.
Mead Johnson Nutrition Company (NYSE:MJN) is a global pediatric nutrition company.
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