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 the company’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Mallinckrodt PLC (NYSE:MNK) traded up 1.10% on Friday, hitting $71.66. The stock had a trading volume of 8,305,833 shares. Mallinckrodt PLC has a one year low of $41.67 and a one year high of $83.20. The stock’s 50-day moving average is $74.00 and its 200-day moving average is $70.56. The company has a market cap of $4.197 billion and a price-to-earnings ratio of 62.67.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly 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. Analysts expect that Mallinckrodt PLC will post $4.42 EPS 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 investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $85.78.
Mallinckrodt public limited company (NYSE:MNK) is a global specialty pharmaceuticals company.
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