Insider Buying: Mallinckrodt PLC major shareholder Purchases 132,100 Shares of Stock (MNK)
Mallinckrodt PLC (NYSE:MNK) major shareholder Paulson & Co Inc acquired 132,100 shares of Mallinckrodt PLC stock on the open market in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average price of $69.80 per share, for a total transaction of $9,220,580.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
MNK has been the subject of a number of recent research reports. 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 an average rating of “Buy” and an average price target of $85.78.
Shares of Mallinckrodt PLC (NYSE:MNK) traded up 1.10% during mid-day trading on Friday, hitting $71.66. The stock had a trading volume of 8,305,783 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 $74.15 and a 200-day moving average of $70.45. The company has a market cap of $4.197 billion and a P/E ratio of 62.67. Mallinckrodt PLC also was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 9,776 put options on the stock. This is an increase of approximately 384% compared to the average daily volume of 2,018 put options.
Mallinckrodt PLC (NYSE:MNK) last announced its earnings results 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.
Mallinckrodt public limited company (NYSE:MNK) is a global specialty pharmaceuticals company.
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