Traders Buy High Volume of Put Options on Mylan (MYL)

Mylan NV (NASDAQ:MYL) was the recipient of some unusual options trading on Tuesday. Traders purchased 24,068 put options on the company. This is an increase of 1,602% compared to the average daily volume of 1,414 put options.

In other Mylan news, insider Paul Campbell sold 11,533 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $27.50, for a total value of $317,157.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.81% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. Clearbridge Investments LLC boosted its holdings in shares of Mylan by 15.6% during the 1st quarter. Clearbridge Investments LLC now owns 4,677,312 shares of the company’s stock valued at $132,555,000 after acquiring an additional 632,297 shares in the last quarter. Accident Compensation Corp raised its position in Mylan by 6.0% during the 1st quarter. Accident Compensation Corp now owns 98,704 shares of the company’s stock worth $2,797,000 after purchasing an additional 5,600 shares during the last quarter. Allstate Corp bought a new position in Mylan during the 1st quarter worth $415,000. Nordea Investment Management AB raised its position in Mylan by 15.9% during the 1st quarter. Nordea Investment Management AB now owns 41,285 shares of the company’s stock worth $1,170,000 after purchasing an additional 5,665 shares during the last quarter. Finally, Ameritas Investment Corp raised its position in Mylan by 3,294.5% during the 1st quarter. Ameritas Investment Corp now owns 3,700 shares of the company’s stock worth $105,000 after purchasing an additional 3,591 shares during the last quarter. Hedge funds and other institutional investors own 83.80% of the company’s stock.

Shares of NASDAQ MYL traded down $0.41 during trading hours on Friday, reaching $16.80. 10,067,582 shares of the stock were exchanged, compared to its average volume of 6,472,994. The firm has a market cap of $9.28 billion, a P/E ratio of 3.67, a price-to-earnings-growth ratio of 0.93 and a beta of 1.44. The company has a current ratio of 1.51, a quick ratio of 0.85 and a debt-to-equity ratio of 1.20. Mylan has a 52 week low of $16.63 and a 52 week high of $42.50.

Mylan (NASDAQ:MYL) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.03. Mylan had a return on equity of 18.96% and a net margin of 2.14%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the company earned $0.96 EPS. The company’s revenue was down 7.0% on a year-over-year basis. Analysts forecast that Mylan will post 4.28 EPS for the current year.

MYL has been the subject of several recent research reports. Mizuho reaffirmed a “neutral” rating on shares of Mylan in a research report on Thursday, January 31st. Sanford C. Bernstein cut Mylan from an “outperform” rating to a “market perform” rating and set a $33.00 price target for the company. in a research report on Wednesday, February 27th. BMO Capital Markets increased their price target on Mylan to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, February 27th. They noted that the move was a valuation call. BTIG Research reduced their price target on Mylan to $35.00 and set a “buy” rating for the company in a research report on Wednesday, February 27th. Finally, Wells Fargo & Co reduced their price target on Mylan from $40.00 to $33.00 and set an “outperform” rating for the company in a research report on Wednesday, February 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $36.95.

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Mylan Company Profile

Mylan N.V., together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic, branded-generic, brand-name, and over-the-counter (OTC) pharmaceutical products in North America, Europe, and internationally. It offers active pharmaceutical ingredients and finished dosage forms; and antiretroviral medicines to treat HIV/AIDS.

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