Mallinckrodt PLC Short Interest Up 74.3% in August (MNK)
Shares of Mallinckrodt PLC (NYSE:MNK) were the target of 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, Analyst Ratings Network.com reports. Based on an average daily volume of 3,223,860 shares, the days-to-cover ratio is presently 8.5 days. Approximately 47.2% of the company’s stock are sold short.
In other Mallinckrodt PLC news, VP Raymond J. Furey unloaded 10,303 shares of Mallinckrodt PLC stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $81.61, for a total transaction of $840,827.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on MNK shares. 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 analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Mallinckrodt PLC has a consensus rating of “Buy” and a consensus target price of $85.78.
Shares of Mallinckrodt PLC (NYSE:MNK) opened at 84.21 on Friday. Mallinckrodt PLC has a one year low of $41.67 and a one year high of $87.15. The stock has a 50-day moving average of $73.60 and a 200-day moving average of $72.25. The company has a market cap of $4.932 billion and a P/E ratio of 75.46.
Mallinckrodt PLC (NYSE:MNK) last issued its quarterly earnings data 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 $4.37 earnings per share for the current fiscal year.
Mallinckrodt public limited company (NYSE:MNK) is a global specialty pharmaceuticals company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.