Mallinckrodt PLC Sees Unusually Large Options Volume (MNK)
Mallinckrodt PLC (NYSE:MNK) was the recipient of some unusual options trading on Friday. Investors acquired 4,809 put options on the stock. This represents an increase of approximately 280% compared to the average daily volume of 1,266 put options.
In other news, VP Coleman N. Lannum III acquired 1,968 shares of Mallinckrodt PLC stock in a transaction on Friday, May 12th. The stock was bought at an average price of $46.20 per share, for a total transaction of $90,921.60. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Steven J. Romano bought 1,000 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was bought at an average cost of $39.88 per share, with a total value of $39,880.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 5,818 shares of company stock valued at $248,608. 0.77% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. TrueNorth Inc. bought a new stake in Mallinckrodt PLC during the first quarter worth about $730,000. Achmea Investment Management B.V. acquired a new position in shares of Mallinckrodt PLC during the first quarter worth approximately $394,000. Bank of Nova Scotia acquired a new position in shares of Mallinckrodt PLC during the first quarter worth approximately $961,000. RBF Capital LLC acquired a new position in shares of Mallinckrodt PLC during the first quarter worth approximately $891,000. Finally, Stellar Capital Management LLC acquired a new position in shares of Mallinckrodt PLC during the first quarter worth approximately $2,057,000. 96.96% of the stock is owned by institutional investors.
MNK has been the subject of a number of recent analyst reports. Jefferies Group LLC cut Mallinckrodt PLC to a “buy” rating and dropped their price target for the company from $95.00 to $70.00 in a report on Monday, March 13th. Leerink Swann reiterated an “outperform” rating on shares of Mallinckrodt PLC in a research report on Monday, March 20th. Canaccord Genuity reduced their price target on Mallinckrodt PLC from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, May 9th. BMO Capital Markets reduced their price target on Mallinckrodt PLC from $79.00 to $69.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 10th. Finally, ValuEngine lowered Mallinckrodt PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $74.31.
Shares of Mallinckrodt PLC (NYSE MNK) opened at 43.64 on Thursday. The stock’s 50 day moving average price is $42.97 and its 200-day moving average price is $47.44. The company’s market cap is $4.34 billion. Mallinckrodt PLC has a one year low of $38.80 and a one year high of $85.83.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings data on Monday, May 8th. The company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.05. Mallinckrodt PLC had a net margin of 16.01% and a return on equity of 16.33%. The company had revenue of $810.90 million during the quarter, compared to the consensus estimate of $781.23 million. During the same period in the previous year, the firm posted $2.01 EPS. The firm’s revenue was down .6% compared to the same quarter last year. On average, analysts expect that Mallinckrodt PLC will post $7.55 EPS for the current year.
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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