Insider Buying: Mallinckrodt PLC (MNK) Director Acquires 1,000 Shares of Stock
Mallinckrodt PLC (NYSE:MNK) Director Joann A. Reed acquired 1,000 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was acquired at an average cost of $21.50 per share, for a total transaction of $21,500.00. Following the completion of the purchase, the director now directly owns 15,554 shares in the company, valued at $334,411. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Mallinckrodt PLC (NYSE MNK) traded down $0.44 during mid-day trading on Monday, hitting $21.76. The stock had a trading volume of 5,866,400 shares, compared to its average volume of 2,489,536. Mallinckrodt PLC has a 52 week low of $19.00 and a 52 week high of $68.12. The company has a current ratio of 1.38, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $2,067.31, a price-to-earnings ratio of 2.94, a PEG ratio of 0.33 and a beta of 1.46.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.80 by $0.17. Mallinckrodt PLC had a return on equity of 14.79% and a net margin of 11.43%. The business had revenue of $793.90 million for the quarter, compared to the consensus estimate of $808.93 million. During the same quarter in the prior year, the business earned $2.04 earnings per share. Mallinckrodt PLC’s revenue for the quarter was down 10.5% on a year-over-year basis. equities research analysts anticipate that Mallinckrodt PLC will post 7.23 earnings per share for the current year.
A number of research analysts have recently issued reports on MNK shares. Piper Jaffray Companies set a $67.00 price objective on Mallinckrodt PLC and gave the company a “buy” rating in a research note on Saturday, October 21st. Goldman Sachs Group, Inc. (The) started coverage on Mallinckrodt PLC in a research note on Thursday, September 28th. They issued a “buy” rating and a $55.00 price objective on the stock. UBS AG reissued a “buy” rating and issued a $70.00 price objective on shares of Mallinckrodt PLC in a research note on Wednesday, September 6th. Zacks Investment Research raised Mallinckrodt PLC from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Finally, ValuEngine downgraded Mallinckrodt PLC from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $48.14.
Institutional investors have recently bought and sold shares of the stock. Alliancebernstein L.P. lifted its position in shares of Mallinckrodt PLC by 15.4% during the second quarter. Alliancebernstein L.P. now owns 3,348,807 shares of the company’s stock worth $150,060,000 after acquiring an additional 448,011 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Mallinckrodt PLC by 16.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,522,330 shares of the company’s stock worth $94,255,000 after acquiring an additional 360,516 shares in the last quarter. HealthCor Management L.P. purchased a new stake in shares of Mallinckrodt PLC during the second quarter worth $107,649,000. Ameriprise Financial Inc. lifted its position in shares of Mallinckrodt PLC by 2.6% during the third quarter. Ameriprise Financial Inc. now owns 1,987,196 shares of the company’s stock worth $74,260,000 after acquiring an additional 49,752 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Mallinckrodt PLC by 6,828.1% during the second quarter. Janus Henderson Group PLC now owns 1,396,780 shares of the company’s stock worth $62,590,000 after acquiring an additional 1,376,619 shares in the last quarter. Institutional investors and hedge funds own 98.83% of the company’s stock.
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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