Mark Trudeau Purchases 5,000 Shares of Mallinckrodt PLC (MNK) Stock
Mallinckrodt PLC (NYSE:MNK) CEO Mark Trudeau purchased 5,000 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were purchased at an average cost of $22.28 per share, for a total transaction of $111,400.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Mallinckrodt PLC (MNK) opened at $21.72 on Wednesday. The firm has a market capitalization of $2,080.61, a P/E ratio of 2.96, a price-to-earnings-growth ratio of 0.33 and a beta of 1.46. The company has a quick ratio of 1.05, a current ratio of 1.38 and a debt-to-equity ratio of 1.08. Mallinckrodt PLC has a 1-year low of $19.00 and a 1-year high of $68.12.
Mallinckrodt PLC (NYSE:MNK) last issued its earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.80 by $0.17. The business had revenue of $793.90 million during the quarter, compared to the consensus estimate of $808.93 million. Mallinckrodt PLC had a return on equity of 14.79% and a net margin of 11.43%. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.04 earnings per share. equities analysts anticipate that Mallinckrodt PLC will post 7.23 EPS for the current year.
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A number of analysts have recently commented on the company. Morgan Stanley cut their price target on Mallinckrodt PLC from $40.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 8th. Barclays PLC lowered Mallinckrodt PLC from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $65.00 to $23.00 in a research note on Wednesday, November 8th. Jefferies Group LLC assumed coverage on Mallinckrodt PLC in a research note on Wednesday, November 8th. They set a “buy” rating and a $30.00 price target on the stock. cut their price target on Mallinckrodt PLC to $38.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 8th. Finally, set a $24.00 price target on Mallinckrodt PLC and gave the company a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $48.14.
Hedge funds have recently modified their holdings of the business. Denali Advisors LLC bought a new stake in Mallinckrodt PLC in the second quarter worth approximately $112,000. Sterling Capital Management LLC bought a new stake in Mallinckrodt PLC in the second quarter worth approximately $204,000. Advisor Partners LLC bought a new stake in Mallinckrodt PLC in the second quarter worth approximately $242,000. Municipal Employees Retirement System of Michigan increased its holdings in Mallinckrodt PLC by 24.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 5,640 shares of the company’s stock worth $253,000 after purchasing an additional 1,110 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in Mallinckrodt PLC in the second quarter worth approximately $260,000. 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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