Steven J. Romano Buys 2,000 Shares of Mallinckrodt PLC (MNK) Stock

Mallinckrodt PLC (NYSE:MNK) VP Steven J. Romano purchased 2,000 shares of Mallinckrodt PLC stock in a transaction dated Monday, November 13th. The stock was bought at an average price of $21.96 per share, with a total value of $43,920.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Mallinckrodt PLC (NYSE:MNK) traded down $0.18 during mid-day trading on Wednesday, hitting $21.72. 5,264,200 shares of the stock traded hands, compared to its average volume of 2,510,217. Mallinckrodt PLC has a 1 year low of $19.00 and a 1 year high of $68.12. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.38 and a quick ratio of 1.05. The stock has a market capitalization of $2,080.61, a P/E ratio of 2.96, a PEG ratio of 0.33 and a beta of 1.46.

Mallinckrodt PLC (NYSE:MNK) last released its earnings results on Tuesday, November 7th. The company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.80 by $0.17. Mallinckrodt PLC had a net margin of 11.43% and a return on equity of 14.79%. The firm had revenue of $793.90 million for the quarter, compared to the consensus estimate of $808.93 million. During the same quarter in the previous year, the firm earned $2.04 earnings per share. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. equities analysts expect that Mallinckrodt PLC will post 7.23 EPS for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in MNK. HealthCor Management L.P. bought a new stake in Mallinckrodt PLC in the second quarter worth $107,649,000. Janus Henderson Group PLC increased its position in 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 worth $62,590,000 after purchasing an additional 1,376,619 shares during the last quarter. Ameriprise Financial Inc. increased its position in Mallinckrodt PLC by 117.3% in the second quarter. Ameriprise Financial Inc. now owns 1,937,444 shares of the company’s stock worth $86,815,000 after purchasing an additional 1,045,757 shares during the last quarter. Prudential Financial Inc. increased its position in Mallinckrodt PLC by 114.9% in the third quarter. Prudential Financial Inc. now owns 1,379,978 shares of the company’s stock worth $51,569,000 after purchasing an additional 737,791 shares during the last quarter. Finally, AJO LP increased its position in Mallinckrodt PLC by 165.6% in the second quarter. AJO LP now owns 927,472 shares of the company’s stock worth $41,560,000 after purchasing an additional 578,266 shares during the last quarter. 98.83% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on MNK shares. Morgan Stanley cut their target price on shares of Mallinckrodt PLC from $40.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 8th. Barclays PLC lowered shares of Mallinckrodt PLC from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $65.00 to $23.00 in a research report on Wednesday, November 8th. Jefferies Group LLC started coverage on shares of Mallinckrodt PLC in a research report on Wednesday, November 8th. They set a “buy” rating and a $30.00 target price for the company. BMO Capital Markets cut their target price on shares of Mallinckrodt PLC to $38.00 and set an “outperform” rating for the company in a research report on Wednesday, November 8th. Finally, Canaccord Genuity set a $24.00 target price on shares of Mallinckrodt PLC and gave the company a “hold” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $48.14.

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.

Insider Buying and Selling by Quarter for Mallinckrodt PLC (NYSE:MNK)

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