Insider Buying: Mallinckrodt PLC (MNK) Director Buys $100,046.40 in Stock
Mallinckrodt PLC (NYSE:MNK) Director Dr Kneeland Youngblood acquired 4,560 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were acquired at an average price of $21.94 per share, with a total value of $100,046.40. Following the acquisition, the director now owns 19,789 shares in the company, valued at approximately $434,170.66. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Mallinckrodt PLC (NYSE MNK) opened at $21.82 on Friday. The stock has a market capitalization of $2,073.01, a price-to-earnings ratio of 2.94, a P/E/G ratio of 0.40 and a beta of 1.32. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.38 and a quick ratio of 1.05. Mallinckrodt PLC has a 52 week low of $19.00 and a 52 week high of $55.32.
Mallinckrodt (NYSE:MNK) last issued its earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.80 by $0.17. The company had revenue of $793.90 million during the quarter, compared to analyst estimates of $808.93 million. Mallinckrodt had a return on equity of 14.79% and a net margin of 11.43%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the business posted $2.04 EPS. analysts forecast that Mallinckrodt PLC will post 7.2 earnings per share for the current fiscal year.
MNK has been the subject of several analyst reports. Zacks Investment Research lowered Mallinckrodt from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. UBS reiterated a “buy” rating and set a $70.00 price objective on shares of Mallinckrodt in a report on Wednesday, September 6th. Cantor Fitzgerald reiterated a “buy” rating and set a $52.00 price objective on shares of Mallinckrodt in a report on Thursday, November 2nd. BidaskClub upgraded Mallinckrodt from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Finally, Deutsche Bank reiterated a “buy” rating and set a $45.00 price objective (down previously from $56.00) on shares of Mallinckrodt in a report on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $48.14.
A number of hedge funds have recently modified their holdings of MNK. Shelton Capital Management purchased a new position in shares of Mallinckrodt during the 3rd quarter valued at about $205,000. Ameritas Investment Partners Inc. raised its stake in shares of Mallinckrodt by 1,051.7% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 29,655 shares of the company’s stock valued at $1,218,000 after buying an additional 27,080 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Mallinckrodt by 11.4% during the 3rd quarter. California Public Employees Retirement System now owns 263,970 shares of the company’s stock valued at $9,865,000 after buying an additional 26,970 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Mallinckrodt by 15.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 32,611 shares of the company’s stock valued at $1,219,000 after buying an additional 4,369 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Mallinckrodt by 748.1% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 7,989 shares of the company’s stock valued at $299,000 after buying an additional 7,047 shares during the last quarter. Institutional investors own 97.40% of the company’s stock.
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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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