Could Mallinckrodt PLC Rise Even More? The Stock Had Bullish Options Activity

 Could Mallinckrodt PLC Rise Even More? The Stock Had Bullish Options Activity

In today’s session Mallinckrodt PLC (MNK) registered an unusually high (206) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious MNK increase. With 206 contracts traded and 1364 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: MNK161216C00070000 closed last at: $2.45 or 122.7% up. About 195,903 shares traded hands. Mallinckrodt PLC (NYSE:MNK) has risen 6.61% since April 11, 2016 and is uptrending. It has outperformed by 0.46% the S&P500.

Analysts await Mallinckrodt PLC (NYSE:MNK) to report earnings on November, 28. They expect $2.25 EPS, up 22.28% or $0.41 from last year’s $1.84 per share. MNK’s profit will be $247.51M for 7.24 P/E if the $2.25 EPS becomes a reality. After $2.20 actual EPS 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 59.82% above today’s ($65.18) stock price. Mallinckrodt has been the topic of 31 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Friday, October 9 by Mizuho. Mizuho maintained Mallinckrodt PLC (NYSE:MNK) on Wednesday, December 9 with “Neutral” rating. Northland Capital initiated the shares of MNK in a report on Wednesday, November 11 with “Outperform” rating. As per Wednesday, May 4, the company rating was maintained by JP Morgan. The firm has “Outperform” rating by Oppenheimer given on Wednesday, August 5. On Wednesday, August 24 the stock rating was maintained by Piper Jaffray with “Overweight”. The stock of Mallinckrodt PLC (NYSE:MNK) has “Outperform” rating given on Friday, February 19 by Wells Fargo. The firm earned “Overweight” rating on Wednesday, August 5 by Barclays Capital. Barclays Capital maintained it with “Overweight” rating and $80 target price in Tuesday, October 13 report. The rating was maintained by Mizuho with “Buy” on Thursday, July 21.

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 increased, 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.
Fil Limited has 0% invested in the company for 6,100 shares. Raymond James holds 78,022 shares or 0.01% of its portfolio. Vantage Invest Advsrs Ltd Liability Corp has 10 shares for 0% of their US portfolio. New York State Teachers Retirement Systems holds 231,029 shares or 0.04% of its portfolio. Tradewinds Limited has 0% invested in the company for 37 shares. Moreover, Gruss Inc has 1.03% invested in Mallinckrodt PLC (NYSE:MNK) for 14,000 shares. Retail Bank Va reported 4,198 shares or 0.25% of all its holdings. Piershale Fincl last reported 0% of its portfolio in the stock. First Eagle Inv Mgmt Lc holds 0% of its portfolio in Mallinckrodt PLC (NYSE:MNK) for 187 shares. Commonwealth National Bank & Trust Of, a Australia-based fund reported 936 shares. Next Gru holds 1,593 shares or 0.03% of its portfolio. Moreover, Arizona State Retirement Systems has 0.02% invested in Mallinckrodt PLC (NYSE:MNK) for 26,800 shares. State Board Of Administration Of Florida Retirement Systems has invested 0.03% of its portfolio in Mallinckrodt PLC (NYSE:MNK). Amp Cap Invsts Ltd has 0.03% invested in the company for 76,298 shares. Alliancebernstein Ltd Partnership accumulated 198,008 shares or 0.01% of the stock.

Mallinckrodt public limited company is engaged in the specialty pharmaceuticals and nuclear imaging business. The company has a market cap of $7.17 billion. The Firm develops, makes, markets and distributes specialty pharmaceutical and biopharmaceutical products, and nuclear imaging agents. It has a 14.31 P/E ratio. The Company’s divisions include Specialty Brands, Specialty Generics and Nuclear Imaging.

More important recent Mallinckrodt PLC (NYSE:MNK) news were published by: Prnewswire.com which released: “Mallinckrodt plc to Change Fiscal Year” on May 18, 2016, also Prnewswire.com published article titled: “Mallinckrodt plc To Report Fourth Quarter And Full-Year Fiscal 2016 Results …”, Prnewswire.com published: “Mallinckrodt plc Reports Fiscal 2016 Third Quarter Results and Provides …” on August 02, 2016. More interesting news about Mallinckrodt PLC (NYSE:MNK) was released by: Seekingalpha.com and their article: “Mallinckrodt: We Still Wouldn’t Touch The Stock Here” with publication date: November 07, 2016.

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