Traders Purchase Large Volume of Put Options on Mylan (MYL)
Shares of Mylan (NYSE:MYL) were the target of unusually large options trading on Wednesday. Stock traders acquired 5,634 put options on the company, Analyst Ratings Network.com reports. This represents an increase of approximately 343% compared to the typical daily volume of 1,273 put options.
A number of analysts have recently weighed in on MYL shares. Analysts at Zacks reiterated a “neutral” rating on shares of Mylan in a research note on Wednesday. They now have a $53.00 price target on the stock. Separately, analysts at Wells Fargo & Co. initiated coverage on shares of Mylan in a research note on Wednesday, June 11th. They set an “outperform” rating on the stock. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $48.00.
Mylan (NYSE:MYL) traded down 0.16% during mid-day trading on Wednesday, hitting $50.62. 2,557,796 shares of the company’s stock traded hands. Mylan has a 52-week low of $29.90 and a 52-week high of $57.52. The stock has a 50-day moving average of $48.83 and a 200-day moving average of $47.76. The company has a market cap of $18.918 billion and a P/E ratio of 31.67.
Mylan (NYSE:MYL) last announced its earnings results on Thursday, May 1st. The company reported $0.66 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.68 by $0.02. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, analysts predict that Mylan will post $3.40 earnings per share for the current fiscal year.
Mylan Inc (NYSE:MYL) is a fully integrated global pharmaceutical company that develops, licenses, manufactures, markets and distributes generic, branded generic and specialty pharmaceuticals.
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