Meredith B. Fischer Acquires 1,280 Shares of Mallinckrodt PLC (MNK) Stock
Mallinckrodt PLC (NYSE:MNK) insider Meredith B. Fischer bought 1,280 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was acquired at an average price of $39.63 per share, for a total transaction of $50,726.40. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Mallinckrodt PLC (MNK) traded down 0.061% during midday trading on Friday, hitting $41.055. 260,301 shares of the stock were exchanged. Mallinckrodt PLC has a 12 month low of $35.04 and a 12 month high of $77.42. The firm has a 50 day moving average of $41.25 and a 200-day moving average of $44.48. The stock’s market cap is $3.99 billion.
Mallinckrodt PLC (NYSE:MNK) last issued its earnings results on Tuesday, August 8th. The company reported $1.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.12. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. The company had revenue of $824.50 million for the quarter, compared to analysts’ expectations of $829.56 million. During the same period in the prior year, the business earned $2.03 EPS. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. Equities research analysts anticipate that Mallinckrodt PLC will post $7.44 EPS for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Mallinckrodt PLC by 4,060.7% in the first quarter. BlackRock Inc. now owns 8,734,709 shares of the company’s stock valued at $389,307,000 after buying an additional 8,524,773 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Mallinckrodt PLC by 1,455.5% in the first quarter. Alliancebernstein L.P. now owns 2,900,796 shares of the company’s stock valued at $129,288,000 after buying an additional 2,714,313 shares during the last quarter. HealthCor Management L.P. acquired a new position in shares of Mallinckrodt PLC during the second quarter valued at about $107,649,000. Janus Henderson Group PLC boosted its position in shares of Mallinckrodt PLC by 6,828.1% in the second quarter. Janus Henderson Group PLC now owns 1,396,780 shares of the company’s stock valued at $62,590,000 after buying an additional 1,376,619 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Mallinckrodt PLC by 117.3% in the second quarter. Ameriprise Financial Inc. now owns 1,937,444 shares of the company’s stock valued at $86,815,000 after buying an additional 1,045,757 shares during the last quarter. Institutional investors own 97.48% of the company’s stock.
A number of brokerages recently commented on MNK. Canaccord Genuity set a $87.00 target price on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Monday, July 17th. Cantor Fitzgerald began coverage on shares of Mallinckrodt PLC in a research report on Friday, June 16th. They issued an “overweight” rating and a $52.00 target price on the stock. Zacks Investment Research upgraded shares of Mallinckrodt PLC from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Wells Fargo & Company reiterated an “outperform” rating and issued a $83.50 target price on shares of Mallinckrodt PLC in a research report on Wednesday, June 21st. Finally, BidaskClub cut shares of Mallinckrodt PLC from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $68.99.
About Mallinckrodt PLC
Mallinckrodt public limited company develops, manufactures, markets and distributes branded and generic specialty pharmaceutical products and therapies. The Company focuses on various therapeutic areas, such as autoimmune and rare disease specialty areas, including neurology, rheumatology, nephrology, ophthalmology and pulmonology; immunotherapy and neonatal critical care respiratory therapies; analgesics and hemostasis products, and central nervous system drugs.
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