Insider Buying: Joseph A. Zaccagnino Acquires 3,000 Shares of Mallinckrodt PLC Stock (MNK)
Mallinckrodt PLC (NYSE:MNK) Director Joseph A. Zaccagnino acquired 3,000 shares of the stock on the open market in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average price of $71.06 per share, for a total transaction of $213,180.00. Following the transaction, the director now directly owns 9,774 shares of the company’s stock, valued at approximately $694,540. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Mallinckrodt PLC (NYSE:MNK) traded down 3.46% on Tuesday, hitting $69.51. 6,604,177 shares of the company’s stock traded hands. Mallinckrodt PLC has a 1-year low of $41.67 and a 1-year high of $83.20. The stock has a 50-day moving average of $73.82 and a 200-day moving average of $70.89. The company has a market cap of $4.071 billion and a P/E ratio of 63.66.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.20 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.49 earnings per share. Mallinckrodt PLC’s revenue was up 14.6% compared to the same quarter last year. On average, analysts predict that Mallinckrodt PLC will post $4.42 earnings per share for the current fiscal year.
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 investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently 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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