Mallinckrodt PLC (MNK) Sees Large Increase in Short Interest
Mallinckrodt PLC (NYSE:MNK) was the target of a significant growth in short interest in November. As of November 30th, there was short interest totalling 24,753,346 shares, a growth of 11.0% from the November 15th total of 22,292,861 shares. Currently, 26.3% of the company’s stock are short sold. Based on an average daily volume of 3,783,377 shares, the days-to-cover ratio is currently 6.5 days.
MNK has been the topic of several analyst reports. Piper Jaffray Companies set a $67.00 target price on shares of Mallinckrodt and gave the company a “buy” rating in a report on Saturday, October 21st. Zacks Investment Research raised shares of Mallinckrodt from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Goldman Sachs Group initiated coverage on shares of Mallinckrodt in a report on Thursday, September 28th. They issued a “buy” rating and a $55.00 target price on the stock. UBS reaffirmed a “buy” rating and issued a $70.00 target price on shares of Mallinckrodt in a report on Wednesday, September 6th. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of Mallinckrodt in a report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $48.14.
Mallinckrodt (NYSE:MNK) opened at $23.36 on Friday. The company has a market cap of $2,220.00, a P/E ratio of 3.12, a price-to-earnings-growth ratio of 0.42 and a beta of 1.30. Mallinckrodt has a one year low of $19.00 and a one year high of $55.32. 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 (NYSE:MNK) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $1.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.80 by $0.17. The company had revenue of $793.90 million for the quarter, compared to analyst estimates of $808.93 million. Mallinckrodt had a net margin of 11.43% and a return on equity of 14.79%. The firm’s revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.04 earnings per share. equities research analysts anticipate that Mallinckrodt will post 7.2 EPS for the current fiscal year.
In other Mallinckrodt news, Director David R. Carlucci purchased 10,000 shares of Mallinckrodt stock in a transaction dated Thursday, November 9th. The shares were acquired at an average price of $21.83 per share, with a total value of $218,300.00. Following the completion of the transaction, the director now owns 26,020 shares of the company’s stock, valued at $568,016.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Dr Kneeland Youngblood purchased 4,560 shares of Mallinckrodt stock in a transaction dated Tuesday, November 28th. The shares were acquired at an average cost of $21.94 per share, for a total transaction of $100,046.40. Following the transaction, the director now directly owns 19,789 shares of the company’s stock, valued at approximately $434,170.66. The disclosure for this purchase can be found here. Insiders have bought 30,460 shares of company stock worth $659,486 in the last three months. Corporate insiders own 0.77% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC purchased a new position in shares of Mallinckrodt during the second quarter worth approximately $204,000. Shelton Capital Management purchased a new position in Mallinckrodt in the 3rd quarter valued at $205,000. Municipal Employees Retirement System of Michigan grew its position in Mallinckrodt by 24.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 5,640 shares of the company’s stock valued at $253,000 after buying an additional 1,110 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in Mallinckrodt in the 2nd quarter valued at $260,000. Finally, Alps Advisors Inc. grew its position in Mallinckrodt by 22.3% in the 2nd quarter. Alps Advisors Inc. now owns 6,465 shares of the company’s stock valued at $290,000 after buying an additional 1,179 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.
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.
Receive News & Ratings for Mallinckrodt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mallinckrodt and related companies with Analyst Ratings Network's FREE daily email newsletter.