The stock of Mallinckrodt PLC (NYSE:MNK) is a huge mover today! About 1.06M shares traded hands. Mallinckrodt PLC (NYSE:MNK) has declined 17.41% since April 28, 2016 and is downtrending. It has underperformed by 23.34% the S&P500.
The move comes after 9 months positive chart setup for the $5.66 billion company. It was reported on Dec, 1 by Barchart.com. We have $54.77 PT which if reached, will make NYSE:MNK worth $169.80M more.
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 34 analyst reports since August 5, 2015 according to StockzIntelligence Inc. JP Morgan downgraded the shares of MNK in a report on Wednesday, August 5 to “Neutral” rating. The stock of Mallinckrodt PLC (NYSE:MNK) has “Outperform” rating given on Wednesday, June 29 by BMO Capital Markets. The rating was maintained by Oppenheimer with “Outperform” on Wednesday, August 5. BMO Capital Markets maintained the shares of MNK in a report on Friday, September 4 with “Market Perform” rating. JP Morgan maintained Mallinckrodt PLC (NYSE:MNK) on Wednesday, May 4 with “Neutral” rating. On Monday, June 6 the stock rating was initiated by Goldman Sachs with “Neutral”. Mizuho upgraded Mallinckrodt PLC (NYSE:MNK) on Wednesday, February 3 to “Buy” rating. The rating was initiated by Stifel Nicolaus with “Buy” on Friday, August 12. On Wednesday, August 5 the stock rating was maintained by Barclays Capital with “Overweight”. The firm has “Neutral” rating by Nomura given on Tuesday, September 29.
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 2016 Q2. Its up 0.08, from 0.83 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.
Consonance Cap Mgmt L P last reported 1.56 million shares in the company. Us Bancshares De has invested 0% of its portfolio in Mallinckrodt PLC (NYSE:MNK). State Treasurer State Of Michigan owns 38,000 shares or 0.02% of their US portfolio. Numeric Investors Limited Liability Com has 12,800 shares for 0.01% of their US portfolio. Advantus Inc accumulated 0.02% or 10,517 shares. Eaton Vance has 0.01% invested in the company for 34,498 shares. Euclid Advsr Lc owns 4,289 shares or 0.01% of their US portfolio. Manufacturers Life Insur The has 0.01% invested in the company for 107,018 shares. Employees Retirement Systems Of Texas last reported 0.07% of its portfolio in the stock. Fincl Bank Of New York Mellon Corp, a New York-based fund reported 930,725 shares. First Trust Advsrs Lp, a Illinois-based fund reported 316,224 shares. Eqis Mngmt holds 29,365 shares or 0.12% of its portfolio. Stevens L P last reported 43,436 shares in the company. The Illinois-based Envestnet Asset Management Inc has invested 0% in Mallinckrodt PLC (NYSE:MNK). Exane Derivatives accumulated 0% or 1,450 shares.
More notable recent Mallinckrodt PLC (NYSE:MNK) news were published by: Cnbc.com which released: “Mallinckrodt plagued by ‘production issues,’ falls about 9%” on November 29, 2016, also Reuters.com with their article: “BRIEF-Mallinckrodt Plc reports 2016 fourth quarter results” published on November 29, 2016, Investorplace.com published: “Why Mallinckrodt PLC (MNK), Vale SA (ADR) (VALE) and Marathon Oil Corporation …” on November 29, 2016. More interesting news about Mallinckrodt PLC (NYSE:MNK) were released by: Investorplace.com and their article: “Why Lowe’s Companies, Inc. (LOW), PDL BioPharma Inc (PDLI) and Mallinckrodt …” published on November 16, 2016 as well as Cnbc.com‘s news article titled: “Mallinckrodt shares tank as short-seller Andrew Left claims CEO commits fraud” with publication date: November 16, 2016.
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