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Mallinckrodt PLC (NYSE:MNK) saw an uptick in trading volume on Monday after an insider bought additional shares in the company, Stock Ratings News reports. 29,228,346 shares changed hands during trading, an increase of 616% from the previous session’s volume of 4,079,778 shares.The stock last traded at $72.00 and had previously closed at $71.66.

Specifically, major shareholder Paulson & Co Inc purchased 132,100 shares of the stock on the open market in a transaction dated Wednesday, August 13th. The shares were purchased at an average price of $69.80 per share, with a total value of $9,220,580.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Several analysts have recently commented on the stock. 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 assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $85.78.

The stock has a 50-day moving average of $74.00 and a 200-day moving average of $70.56. The company has a market cap of $4.217 billion and a price-to-earnings ratio of 63.36.

Mallinckrodt PLC (NYSE:MNK) last issued its quarterly 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 $4.42 EPS for the current fiscal year.

Mallinckrodt public limited company (NYSE:MNK) is a global specialty pharmaceuticals company.

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