Insider Buying: Mallinckrodt PLC major shareholder Purchases 467,900 Shares of Stock (MNK)
Mallinckrodt PLC (NYSE:MNK) major shareholder Paulson & Co Inc purchased 467,900 shares of the stock on the open market in a transaction dated Tuesday, August 12th. The stock was purchased at an average price of $68.78 per share, with a total value of $32,182,162.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Mallinckrodt PLC (NYSE:MNK) traded up 2.19% on Wednesday, hitting $69.61. The stock had a trading volume of 3,459,789 shares. Mallinckrodt PLC has a 52-week low of $41.67 and a 52-week high of $83.20. The stock has a 50-day moving average of $74.56 and a 200-day moving average of $70.46. The company has a market cap of $4.077 billion and a price-to-earnings ratio of 60.23.
Mallinckrodt PLC (NYSE:MNK) last released its earnings data on Thursday, August 7th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.33. The company had revenue of $653.10 million for the quarter, compared to the consensus estimate of $278.80 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, analysts predict that Mallinckrodt PLC will post $4.34 earnings per share for the current fiscal year.
A number of research firms have recently commented on MNK. Analysts at Leerink Swann cut their price target on shares of Mallinckrodt PLC from $90.00 to $77.00 in a research note on Friday, August 8th. Separately, analysts at Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of Mallinckrodt PLC in a research note on Friday, August 8th. They now have a $77.00 price target on the stock, down previously from $90.00. Finally, analysts at Bank of America raised their price target on shares of Mallinckrodt PLC to $97.00 in a research note on Tuesday, July 29th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $85.78.
Mallinckrodt public limited company (NYSE:MNK) is a global specialty pharmaceuticals company.
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