Traders Buy Shares of Mallinckrodt PLC (MNK) on Weakness
Traders bought shares of Mallinckrodt PLC (NYSE:MNK) on weakness during trading hours on Monday. $31.28 million flowed into the stock on the tick-up and $23.45 million flowed out of the stock on the tick-down, for a money net flow of $7.83 million into the stock. Of all equities tracked, Mallinckrodt PLC had the 10th highest net in-flow for the day. Mallinckrodt PLC traded down ($0.72) for the day and closed at $74.20
A number of equities research analysts recently weighed in on MNK shares. BMO Capital Markets started coverage on Mallinckrodt PLC in a report on Tuesday, June 28th. They issued an “outperform” rating and a $84.00 price target on the stock. Mizuho upped their price target on Mallinckrodt PLC from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Thursday, July 21st. Piper Jaffray Cos. upped their price target on Mallinckrodt PLC from $103.00 to $112.00 and gave the stock an “overweight” rating in a report on Wednesday, August 24th. TheStreet upgraded Mallinckrodt PLC from a “hold” rating to a “buy” rating in a report on Friday, June 17th. Finally, Zacks Investment Research upgraded Mallinckrodt PLC from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Tuesday, July 19th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $94.82.
The company’s 50-day moving average is $72.86 and its 200-day moving average is $64.64. The company has a market cap of $7.99 billion and a P/E ratio of 13.99.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $2.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.00 by $0.20. During the same period in the prior year, the company posted $2.05 EPS. The company earned $970.60 million during the quarter, compared to the consensus estimate of $920.35 million. Mallinckrodt PLC’s quarterly revenue was up .6% on a year-over-year basis. On average, equities research analysts anticipate that Mallinckrodt PLC will post $7.72 EPS for the current fiscal year.
An institutional investor recently raised its position in Mallinckrodt PLC stock. Ameriprise Financial Inc. increased its stake in shares of Mallinckrodt PLC (NYSE:MNK) by 69.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 617,468 shares of the company’s stock after buying an additional 252,605 shares during the period. Ameriprise Financial Inc. owned approximately 0.55% of Mallinckrodt PLC worth $46,089,000 at the end of the most recent reporting 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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