Mallinckrodt PLC VP Sells $391,556 in Stock (MNK)
Mallinckrodt PLC (NYSE:MNK) VP Raymond J. Furey sold 4,840 shares of the stock on the open market in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $80.90, for a total value of $391,556.00. Following the completion of the transaction, the vice president now directly owns 27,129 shares in the company, valued at approximately $2,194,736. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Mallinckrodt PLC (NYSE:MNK) traded up 3.69% on Wednesday, hitting $85.34. The stock had a trading volume of 4,376,106 shares. Mallinckrodt PLC has a 1-year low of $41.67 and a 1-year high of $85.55. The stock has a 50-day moving average of $73.34 and a 200-day moving average of $72.16. The company has a market cap of $4.999 billion and a price-to-earnings ratio of 72.77. Mallinckrodt PLC also saw a large increase in short interest in August. As of August 15th, there was short interest totalling 27,287,054 shares, an increase of 74.3% from the July 31st total of 15,651,186 shares. Based on an average daily volume of 3,223,860 shares, the short-interest ratio is currently 8.5 days. Approximately 47.2% of the company’s shares are short sold.
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 $4.36 EPS for the current fiscal year.
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 equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus 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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