Traders Buy Shares of Mallinckrodt PLC (MNK) on Weakness
Traders bought shares of Mallinckrodt PLC (NYSE:MNK) on weakness during trading hours on Wednesday. $25.40 million flowed into the stock on the tick-up and $16.98 million flowed out of the stock on the tick-down, for a money net flow of $8.42 million into the stock. Of all stocks tracked, Mallinckrodt PLC had the 15th highest net in-flow for the day. Mallinckrodt PLC traded down ($0.01) for the day and closed at $74.09
MNK has been the subject of a number of recent research reports. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $83.00 price objective on shares of Mallinckrodt PLC in a research note on Friday, August 26th. Vetr raised shares of Mallinckrodt PLC from a “hold” rating to a “buy” rating and set a $88.80 price objective for the company in a research note on Monday, August 22nd. Barclays PLC reissued an “overweight” rating and issued a $88.00 price objective on shares of Mallinckrodt PLC in a research note on Thursday, August 25th. Leerink Swann reissued an “outperform” rating and issued a $92.00 price objective (up previously from $91.00) on shares of Mallinckrodt PLC in a research note on Friday, September 16th. Finally, Mizuho reissued a “buy” rating and issued a $91.00 price objective on shares of Mallinckrodt PLC in a research note on Monday, August 29th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $94.66.
The firm has a market cap of $7.98 billion, a P/E ratio of 13.97 and a beta of 1.52. The company’s 50 day moving average is $77.16 and its 200-day moving average is $65.72.
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Mallinckrodt PLC (NYSE:MNK) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $2.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.00 by $0.20. Mallinckrodt PLC had a net margin of 16.39% and a return on equity of 17.78%. The company earned $970.60 million during the quarter, compared to analysts’ expectations of $920.35 million. During the same quarter last year, the company posted $2.05 EPS. The firm’s revenue was up .6% compared to the same quarter last year. On average, equities research analysts anticipate that Mallinckrodt PLC will post $7.67 EPS for the current year.
A number of institutional investors have recently modified their holdings of MNK. Algert Global LLC acquired a new position in shares of Mallinckrodt PLC during the first quarter valued at approximately $324,000. Prudential Financial Inc. raised its stake in shares of Mallinckrodt PLC by 271.2% in the first quarter. Prudential Financial Inc. now owns 1,893,119 shares of the company’s stock worth $116,010,000 after buying an additional 1,383,180 shares during the last quarter. Ngam Advisors L.P. raised its stake in shares of Mallinckrodt PLC by 63.7% in the first quarter. Ngam Advisors L.P. now owns 47,418 shares of the company’s stock worth $2,906,000 after buying an additional 18,447 shares during the last quarter. Morris Capital Advisors LLC purchased a new stake in shares of Mallinckrodt PLC during the first quarter worth $234,000. Finally, Ayalon Holdings Ltd. raised its stake in shares of Mallinckrodt PLC by 18.8% in the first quarter. Ayalon Holdings Ltd. now owns 9,500 shares of the company’s stock worth $611,000 after buying an additional 1,500 shares during the last quarter. 94.74% of the stock is owned by institutional investors.
About Mallinckrodt PLC
Mallinckrodt public limited company (Mallinckrodt) is engaged in the specialty pharmaceuticals and nuclear imaging business. The Company develops, manufactures, markets and distributes specialty pharmaceutical and biopharmaceutical products, and nuclear imaging agents. The Company’s segments include Specialty Brands, Specialty Generics and Nuclear Imaging.
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