Stock Traders Purchase Large Volume of Actavis plc Put Options (ACT)
Actavis plc (NYSE:ACT) was the target of unusually large options trading activity on Monday. Stock investors acquired 7,536 put options on the company, AnalystRatings.NET reports. This represents an increase of approximately 468% compared to the typical volume of 1,327 put options.
ACT has been the subject of a number of recent research reports. Analysts at Bank of America raised their price target on shares of Actavis plc to $254.00 in a research note on Tuesday, July 29th. They now have a “buy” rating on the stock. Separately, analysts at Deutsche Bank initiated coverage on shares of Actavis plc in a research note on Tuesday, July 22nd. They set a “buy” rating and a $282.00 price target on the stock. Finally, analysts at CRT Capital raised their price target on shares of Actavis plc from $245.00 to $275.00 in a research note on Wednesday, July 2nd. They now have a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $233.32.
Shares of Actavis plc (NYSE:ACT) traded down 0.52% on Monday, hitting $215.77. The stock had a trading volume of 3,518,260 shares. Actavis plc has a 1-year low of $130.06 and a 1-year high of $230.77. The stock has a 50-day moving average of $217.8 and a 200-day moving average of $206.5. The company’s market cap is $37.640 billion.
Actavis, Inc formerly Watson Pharmaceuticals, Inc, is a integrated global specialty pharmaceutical company engaged in the development, manufacturing, marketing, sale and distribution of generic, branded generic, brand, biosimilar and over-the-counter (NYSE:ACT) pharmaceutical products.
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