Insider Buying: Paulson & Co Inc Purchases 207,900 Shares of Mallinckrodt PLC Stock (MNK)
Mallinckrodt PLC (NYSE:MNK) major shareholder Paulson & Co Inc purchased 207,900 shares of the company’s stock on the open market in a transaction dated Monday, August 11th. The stock was purchased at an average cost of $69.70 per share, for a total transaction of $14,490,630.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 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 3,459,909 shares. Mallinckrodt PLC has a 52-week low of $41.67 and a 52-week high of $83.20. The stock’s 50-day moving average is $74.35 and its 200-day moving average is $70.45. The company has a market cap of $4.077 billion and a P/E ratio of 60.23.
Mallinckrodt PLC (NYSE:MNK) last released its earnings data on Thursday, August 7th. The company reported $1.20 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.49 earnings per share. The company’s quarterly revenue was up 14.6% on a year-over-year basis. Analysts expect that Mallinckrodt PLC will post $4.34 EPS for the current fiscal year.
A number of analysts have recently weighed in on MNK shares. 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 equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Mallinckrodt PLC has a consensus rating of “Buy” and an average target price of $85.78.
Mallinckrodt public limited company (NYSE:MNK) is a global specialty pharmaceuticals company.
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