What’s Ahead for Mallinckrodt PLC After Today’s Bullish Options Activity?

 What's Ahead for Mallinckrodt PLC After Today's Bullish Options Activity?

In today’s session Mallinckrodt PLC (MNK) registered an unusually high (245) 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 245 contracts traded and 4154 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: MNK161216C00060000 closed last at: $2.45 or 31.9% down. About 189,132 shares traded hands. Mallinckrodt PLC (NYSE:MNK) has declined 7.96% since April 20, 2016 and is downtrending. It has underperformed by 12.52% 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 $239.28M for 6.32 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 16 analysts covering Mallinckrodt (NYSE:MNK), 13 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 81% are positive. Mallinckrodt has been the topic of 32 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The rating was maintained by Mizuho with “Buy” on Thursday, July 21. Barclays Capital maintained it with “Overweight” rating and $100 target price in Thursday, September 24 report. The rating was maintained by Oppenheimer with “Outperform” on Wednesday, August 5. Barclays Capital maintained Mallinckrodt PLC (NYSE:MNK) on Tuesday, October 13 with “Overweight” rating. The firm has “Neutral” rating given on Monday, June 6 by Goldman Sachs. The firm has “Outperform” rating by Raymond James given on Friday, November 18. The stock has “Buy” rating given by Stifel Nicolaus on Friday, August 12. The firm has “Neutral” rating given on Friday, October 9 by Mizuho. Northland Capital maintained it with “Outperform” rating and $95 target price in Wednesday, November 25 report. The stock of Mallinckrodt PLC (NYSE:MNK) earned “Overweight” rating by Piper Jaffray on Wednesday, August 24.

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 0.91 in Q2 2016. Its up 0.08, from 0.83 in 2016Q1. The ratio is positive, 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.
Cap Growth Management Limited Partnership has 1.01 million shares for 2.75% of their US portfolio. Amer Century, a Missouri-based fund reported 8,266 shares. Oakbrook Invs Ltd Company, a Illinois-based fund reported 7,500 shares. Fjarde Ap last reported 25,898 shares in the company. Whittier Trust, a California-based fund reported 436 shares. Edge Wealth last reported 50 shares in the company. Robeco Institutional Asset Bv has invested 0% of its portfolio in Mallinckrodt PLC (NYSE:MNK). Sector Pension Board has 0.01% invested in the company for 20,728 shares. Ny State Teachers Retirement Systems holds 231,029 shares or 0.04% of its portfolio. Twin last reported 124,829 shares in the company. Comml Bank Of Ny Mellon Corporation has 0.02% invested in the company for 930,725 shares. Oppenheimer & last reported 0.08% of its portfolio in the stock. Us Bank De accumulated 0% or 13,578 shares. Gsa Ptnrs Llp has 0.04% invested in the company for 10,921 shares. Prudential reported 1.95M shares or 0.2% of all its holdings.

Mallinckrodt public limited company is engaged in the specialty pharmaceuticals and nuclear imaging business. The company has a market cap of $6.05 billion. The Firm develops, makes, markets and distributes specialty pharmaceutical and biopharmaceutical products, and nuclear imaging agents. It has a 12.49 P/E ratio. The Company’s divisions include Specialty Brands, Specialty Generics and Nuclear Imaging.

Another recent and important Mallinckrodt PLC (NYSE:MNK) news was published by Investorplace.com which published an article titled: “Why Lowe’s Companies, Inc. (LOW), PDL BioPharma Inc (PDLI) and Mallinckrodt …” on November 16, 2016.

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