Mallinckrodt PLC Has Another Very Positive Options Trading Session


 Mallinckrodt PLC Has Another Very Positive Options Trading Session

In today’s session Mallinckrodt PLC (MNK) registered an unusually high (144) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious MNK increase. With 144 contracts traded and 8284 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: MNK161021C00070000 closed last at: $0.75 or 50% down. About 119,954 shares traded hands. Mallinckrodt PLC (NYSE:MNK) has declined 2.99% since March 11, 2016 and is downtrending. It has underperformed by 8.44% the S&P500.

Analysts await Mallinckrodt PLC (NYSE:MNK) to report earnings on November, 28. They expect $2.25 earnings per share, up 22.28% or $0.41 from last year’s $1.84 per share. MNK’s profit will be $243.53 million for 7.56 P/E if the $2.25 EPS becomes a reality. After $2.20 actual earnings per share reported by Mallinckrodt PLC for the previous quarter, Wall Street now forecasts 2.27% EPS growth.

Mallinckrodt PLC (NYSE:MNK) Ratings Coverage

Out of 15 analysts covering Mallinckrodt (NYSE:MNK), 12 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 80% are positive. $218 is the highest target while $72 is the lowest. The $104.17 average target is 53.19% above today’s ($68) stock price. Mallinckrodt has been the topic of 31 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Deutsche Bank on Wednesday, October 7. Northland Capital initiated the shares of MNK in a report on Wednesday, November 11 with “Outperform” rating. The firm has “Outperform” rating by Wells Fargo given on Friday, February 19. Barclays Capital maintained Mallinckrodt PLC (NYSE:MNK) rating on Wednesday, August 5. Barclays Capital has “Overweight” rating and $135.0 price target. The stock has “Neutral” rating given by Nomura on Tuesday, September 29. The stock of Mallinckrodt PLC (NYSE:MNK) earned “Neutral” rating by JP Morgan on Wednesday, May 4. The stock of Mallinckrodt PLC (NYSE:MNK) earned “Buy” rating by Deutsche Bank on Wednesday, August 31. The stock has “Outperform” rating given by Leerink Swann on Wednesday, October 7. Morgan Stanley upgraded the shares of MNK in a report on Thursday, December 3 to “Overweight” rating. The rating was maintained by BMO Capital Markets with “Market Perform” on Friday, September 4.

According to Zacks Investment Research, “Mallinckrodt Plc. is engaged in pharmaceuticals business. It develops, manufactures, markets and distributes specialty pharmaceutical products and medical imaging agents. The company’s Specialty Pharmaceuticals segment includes branded and generic drugs and Medical Imaging segment includes contrast media and nuclear imaging agents. Mallinckrodt Plc. is based in Dublin, Ireland.”

Insitutional Activity: The institutional sentiment increased to 0.83 in Q2 2016. Its up 0.07, from 0.76 in 2016Q1. The ratio improved, as 45 funds sold all Mallinckrodt PLC shares owned while 146 reduced positions. 45 funds bought stakes while 113 increased positions. They now own 100.83 million shares or 4.32% less from 105.38 million shares in 2016Q1.
Stevens Mngmt L P last reported 43,436 shares in the company. Moreover, California Pub Employees Retirement has 0.02% invested in Mallinckrodt PLC (NYSE:MNK) for 252,040 shares. Bridger Mngmt Limited Com has 1.19M shares for 4.66% of their US portfolio. The Michigan-based Comerica Bancorp has invested 0.02% in Mallinckrodt PLC (NYSE:MNK). Mufg Americas Holdings owns 103 shares or 0% of their US portfolio. Shinko Asset Mgmt Limited holds 0% or 286 shares in its portfolio. Voya Invest Mngmt Lc accumulated 0.01% or 63,614 shares. Texas Permanent School Fund has invested 0.03% of its portfolio in Mallinckrodt PLC (NYSE:MNK). Gargoyle Invest Advisor Limited Liability Company holds 0.26% of its portfolio in Mallinckrodt PLC (NYSE:MNK) for 11,528 shares. Moreover, Norinchukin Commercial Bank The has 0.01% invested in Mallinckrodt PLC (NYSE:MNK) for 5,734 shares. Bnp Paribas Prtnrs holds 32,083 shares or 0.02% of its portfolio. Guggenheim Cap Ltd Liability Corp has invested 0.12% of its portfolio in Mallinckrodt PLC (NYSE:MNK). Turner Invs L P has 0.37% invested in the company for 19,420 shares. Moreover, State Of New Jersey Common Pension Fund D has 0.2% invested in Mallinckrodt PLC (NYSE:MNK) for 720,000 shares. Atlanta Grp has 0.15% invested in the company for 11,204 shares.

Insider Transactions: Since May 6, 2016, the stock had 3 insider purchases, and 0 insider sales for $207,237 net activity. On Tuesday, May 10 O’Neill Hugh M. bought $100,816 worth of the stock or 1,653 shares. Trudeau Mark also bought $56,021 worth of Mallinckrodt PLC (NYSE:MNK) on Friday, May 6. Romano Steven J. bought $50,400 worth of stock or 900 shares.

Mallinckrodt public limited company is engaged in the specialty pharmaceuticals and nuclear imaging business. The company has a market cap of $7.36 billion. The Firm develops, makes, markets and distributes specialty pharmaceutical and biopharmaceutical products, and nuclear imaging agents. It has a 14.93 P/E ratio. The Company’s divisions include Specialty Brands, Specialty Generics and Nuclear Imaging.

More recent Mallinckrodt PLC (NYSE:MNK) news were published by: which released: “Mallinckrodt plc Reports Fiscal 2016 Third Quarter Results and Provides …” on August 02, 2016. Also published the news titled: “Mallinckrodt PLC Shares Get Hammered Again — Here’s Why” on March 16, 2016.‘s news article titled: “Mallinckrodt plc to Change Fiscal Year” with publication date: May 18, 2016 was also an interesting one.

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