Traders Purchase High Volume of Mylan N.V. Call Options (MYL)

Mylan N.V. (NASDAQ:MYL) was the target of some unusual options trading on Wednesday. Stock investors acquired 16,282 call options on the stock. This represents an increase of 531% compared to the average volume of 2,581 call options.

Several brokerages have weighed in on MYL. Cowen and Company restated a “hold” rating and set a $30.00 price objective (down from $43.00) on shares of Mylan N.V. in a research note on Wednesday, August 9th. Royal Bank Of Canada restated a “sector perform” rating and set a $32.00 price objective (down from $33.00) on shares of Mylan N.V. in a research note on Thursday, August 10th. Citigroup Inc. upgraded Mylan N.V. from a “neutral” rating to a “buy” rating and raised their price objective for the company from $36.00 to $42.00 in a research note on Wednesday, August 16th. Wells Fargo & Company set a $32.00 price objective on Mylan N.V. and gave the company a “hold” rating in a research note on Wednesday. Finally, J P Morgan Chase & Co restated an “overweight” rating and set a $48.00 price objective (up from $44.00) on shares of Mylan N.V. in a research note on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $41.99.

Shares of Mylan N.V. (NASDAQ:MYL) opened at 38.29 on Friday. The company has a 50-day moving average price of $32.08 and a 200 day moving average price of $36.45. Mylan N.V. has a one year low of $29.39 and a one year high of $45.87. The stock has a market cap of $20.53 billion, a price-to-earnings ratio of 30.95 and a beta of 1.30.

Mylan N.V. (NASDAQ:MYL) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.08). The business had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3 billion. Mylan N.V. had a net margin of 5.51% and a return on equity of 22.42%. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.16 earnings per share. Equities research analysts expect that Mylan N.V. will post $4.57 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in Mylan N.V. by 2.6% in the first quarter. Wellington Management Group LLP now owns 46,373,108 shares of the company’s stock valued at $1,808,088,000 after acquiring an additional 1,165,852 shares during the period. BlackRock Inc. lifted its holdings in Mylan N.V. by 4.5% in the second quarter. BlackRock Inc. now owns 40,574,158 shares of the company’s stock valued at $1,575,089,000 after acquiring an additional 1,751,515 shares during the period. Vanguard Group Inc. lifted its holdings in Mylan N.V. by 12.0% in the second quarter. Vanguard Group Inc. now owns 32,880,790 shares of the company’s stock valued at $1,276,432,000 after acquiring an additional 3,531,974 shares during the period. State Street Corp lifted its holdings in Mylan N.V. by 1.6% in the second quarter. State Street Corp now owns 20,498,541 shares of the company’s stock valued at $795,751,000 after acquiring an additional 321,977 shares during the period. Finally, Pzena Investment Management LLC lifted its holdings in Mylan N.V. by 69.9% in the second quarter. Pzena Investment Management LLC now owns 12,339,687 shares of the company’s stock valued at $479,027,000 after acquiring an additional 5,077,371 shares during the period. 71.97% of the stock is currently owned by institutional investors.

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About Mylan N.V.

Mylan N.V. is a global pharmaceutical company. The Company develops, licenses, manufactures, markets and distributes generic and branded generic products for resale by others; specialty pharmaceuticals, and active pharmaceutical ingredients (APIs). It operates through two segments: Generics and Specialty.

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