Short Interest in Mallinckrodt PLC Increases By 31.3% (MNK)
Shares of Mallinckrodt PLC (NYSE:MNK) were the target of a significant increase in short interest during the month of April. As of April 30th, there was short interest totalling 12,744,260 shares, an increase of 31.3% from the April 15th total of 9,706,921 shares, Stock Ratings News reports. Based on an average daily volume of 2,869,402 shares, the short-interest ratio is presently 4.4 days. Approximately 22.0% of the company’s shares are sold short.
In other Mallinckrodt PLC news, major shareholder Paulson & Co Inc acquired 786,207 shares of the company’s stock on the open market in a transaction dated Friday, May 9th. The shares were purchased at an average cost of $73.63 per share, for a total transaction of $57,888,421.41. The purchase was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
MNK has been the subject of a number of recent research reports. Analysts at Jefferies Group raised their price target on shares of Mallinckrodt PLC from $77.00 to $85.00 in a research note on Monday, May 12th. They now have a “buy” rating on the stock. Separately, analysts at Leerink Swann reiterated a “market perform” rating on shares of Mallinckrodt PLC in a research note on Friday, May 9th. They now have a $82.00 price target on the stock, up previously from $68.00. Finally, analysts at JPMorgan Chase & Co. reiterated a “hold” rating on shares of Mallinckrodt PLC in a research note on Friday, May 9th. They now have a $85.00 price target on the stock, up previously from $73.00. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $69.90.
Mallinckrodt PLC (NYSE:MNK) opened at 80.37 on Thursday. Mallinckrodt PLC has a 52-week low of $41.00 and a 52-week high of $83.03. The stock has a 50-day moving average of $69.13 and a 200-day moving average of $60.8. The company has a market cap of $4.700 billion and a P/E ratio of 76.93.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.78 by $0.17. The company had revenue of $557.80 million for the quarter, compared to the consensus estimate of $566.50 million. The company’s quarterly revenue was down 4.7% on a year-over-year basis. Analysts expect that Mallinckrodt PLC will post $3.43 EPS for the current fiscal year.
Mallinckrodt public limited company (NYSE:MNK) is a global specialty pharmaceuticals company.
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