Traders Buy Large Volume of Put Options on Mylan (MYL)
Shares of Mylan (NYSE:MYL) saw some unusual options trading on Monday. Investors bought 2,541 put options on the company, ARN reports. This is an increase of 105% compared to the typical volume of 1,242 put options.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Mylan in a research note on Wednesday, June 18th. 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 research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $49.27.
Shares of Mylan (NYSE:MYL) traded down 2.37% on Monday, hitting $50.56. The stock had a trading volume of 4,328,593 shares. Mylan has a 52 week low of $30.57 and a 52 week high of $57.52. The stock has a 50-day moving average of $49.77 and a 200-day moving average of $48.42. The company has a market cap of $18.896 billion and a price-to-earnings ratio of 32.35.
Mylan (NYSE:MYL) last issued its quarterly earnings data 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 $3.39 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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