Mylan NV Sees Unusually High Options Volume (MYL)

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COPYRIGHT VIOLATION NOTICE: "Cowen and Company Reiterates Hold Rating for Mylan N.V. (MYL)" was originally published by BNB Daily and is the sole property of of BNB Daily. They issued an "outperform" rating and a $50.00 price objective for the company. Zacks Investment Research raised Mylan N.V. from a "sell" rating to a "hold" rating in a research report on Thursday, May 25th.

Mylan and its rivals that make generic drugs have been under pressure because of falling prices. Mylan N.V. has a 52 week low of $29.58 and a 52 week high of $49.42. TEVA, -0.87% shares premarket Wednesday, before Teva shares fell yet again in midday trade. About 6.15M shares traded or 5.13% up from the average. BMO Capital Markets initiated coverage on shares of Mylan a research report on Monday, May 1st. The firm's 50-day moving average is $37.74 and its 200 day moving average is $39.09. The firm has a market cap of $17.39 billion, a price-to-earnings ratio of 32.42 and a beta of 1.27.

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This is providing investors an opportunity to differentiate between pharmaceutical companies focused exclusively on generics and/or specialty medicines and those capable of delivering a broad and diverse portfolio across multiple channels in various geographies, which remains Mylan's strategy. This represents an increase of 589% compared to the average volume of 2,749 call options. (NASDAQ:MYL) last released its quarterly earnings results on Wednesday, August 9th.

The company now expects 2017 revenue of $11.5 billion to $12.5 billion, compared with the FactSet consensus of $12.4 billion, and 2017 adjusted earnings-per-share of $4.30 to $4.70, below the FactSet consensus of $5.13. The institutional investor held 135,395 shares of the major pharmaceuticals company at the end of 2016Q4, valued at $5.17 million, up from 93,455 at the end of the previous reported quarter. On average, equities research analysts predict that Mylan N.V. will post $4.86 earnings per share for the current year. Royal Bank Of Canada restated a sector perform rating and issued a $46.00 price target (down from $48.00) on shares of Mylan a research note on Monday, April 17th. The legal version of this piece of content can be viewed at Also, President Rajiv Malik sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, June 9th. Tricadia Capital Management Llc sold 505,222 shares as Tiptree Finl Inc (TIPT)'s stock declined 3.88%. Following the completion of the transaction, the president now owns 799,855 shares of the company's stock, valued at approximately $31,994,200. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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In related news, insider Anthony Mauro sold 10,000 shares of Mylan N.V. stock in a transaction dated Friday, June 9th. If the share price is now hovering near the 52 week low and the value is achieved in the current past then it can suggest that the price of the shares is likely to go up. Following the transaction, the insider now directly owns 140,653 shares in the company, valued at $5,626,120. The disclosure for this sale can be found here. 8,449,734 shares of the company's stock were exchanged. Vantage Invest Advsr owns 712 shares or 0.01% of their United States portfolio. Finally, Wade G W & Inc. boosted its position in Mylan 3.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 89,795 shares of the company's stock valued at $3,486,000 after buying an additional 28,745 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Mylan 2.6% in the first quarter. The fund owned 7,222 shares of the company's stock after buying an additional 2,380 shares during the period. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Mylan N.V. during the first quarter worth approximately $188,000.

The move comes after a leading global pharmaceutical company, has received marketing authorization from the Drug Controller General of India (DCGI) for its antiretroviral (ARV) drug Avonza™ (TLE400). The Company develops, licenses, manufactures, markets and distributes generic and branded generic products for resale by others; specialty pharmaceuticals, and active pharmaceutical ingredients (APIs).

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