Mallinckrodt PLC (MNK) Trading Down 0.9%
Shares of Mallinckrodt PLC (NYSE:MNK) dropped 0.9% on Tuesday . The stock traded as low as $61.53 and last traded at $61.94, with a volume of 1,139,110 shares traded. The stock had previously closed at $62.52.
MNK has been the subject of a number of recent research reports. Northland Securities reaffirmed a “buy” rating and issued a $95.00 target price on shares of Mallinckrodt PLC in a report on Wednesday, March 16th. Morgan Stanley reaffirmed a “buy” rating on shares of Mallinckrodt PLC in a report on Wednesday, March 16th. Guggenheim reaffirmed a “buy” rating and issued a $98.00 target price on shares of Mallinckrodt PLC in a report on Wednesday, March 23rd. Jefferies Group reaffirmed a “buy” rating and issued a $85.00 target price on shares of Mallinckrodt PLC in a report on Saturday, April 2nd. Finally, Zacks Investment Research cut Mallinckrodt PLC from a “buy” rating to a “hold” rating in a report on Tuesday, April 5th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $91.13.
The stock has a market cap of $6.84 billion and a price-to-earnings ratio of 15.71. The stock has a 50-day moving average of $60.79 and a 200 day moving average of $62.80.
Mallinckrodt PLC (NYSE:MNK) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $2.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.29. During the same period last year, the firm earned $1.72 EPS. The firm had revenue of $918 million for the quarter, compared to the consensus estimate of $878.70 million. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities research analysts expect that Mallinckrodt PLC will post $8.28 EPS for the current year.
In related news, VP Hugh M. O’neill bought 1,653 shares of the stock in a transaction dated Tuesday, May 10th. The stock was bought at an average price of $60.99 per share, with a total value of $100,816.47. Following the purchase, the vice president now owns 15,623 shares in the company, valued at approximately $952,846.77. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Steven J. Romano bought 900 shares of the stock in a transaction dated Friday, May 6th. The stock was bought at an average cost of $56.00 per share, with a total value of $50,400.00. Following the purchase, the vice president now owns 9,291 shares in the company, valued at approximately $520,296. The disclosure for this purchase can be found here.
Several large investors recently added to or reduced their stakes in the stock. Nationwide Fund Advisors raised its stake in Mallinckrodt PLC by 1.8% in the fourth quarter. Nationwide Fund Advisors now owns 34,985 shares of the company’s stock worth $2,611,000 after buying an additional 606 shares during the period. Swiss National Bank raised its stake in Mallinckrodt PLC by 1.6% in the fourth quarter. Swiss National Bank now owns 212,226 shares of the company’s stock worth $15,838,000 after buying an additional 3,400 shares during the period. Rhumbline Advisers raised its stake in Mallinckrodt PLC by 5.2% in the fourth quarter. Rhumbline Advisers now owns 181,848 shares of the company’s stock worth $13,571,000 after buying an additional 8,995 shares during the period. LSV Asset Management bought a new stake in Mallinckrodt PLC during the fourth quarter worth $6,545,000. Finally, Commerzbank Aktiengesellschaft FI raised its stake in Mallinckrodt PLC by 93.9% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 17,458 shares of the company’s stock worth $1,303,000 after buying an additional 8,456 shares during the period.
Mallinckrodt public limited company (Mallinckrodt) is engaged in the specialty pharmaceuticals and nuclear imaging business. The Company develops, manufactures, markets and distributes specialty pharmaceutical and biopharmaceutical products, and nuclear imaging agents. The Company’s segments include Specialty Brands, Specialty Generics and Nuclear Imaging.
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