MNK Stock: Mallinckrodt PLC Short Interest Up 11.0% in November

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Mallinckrodt PLC (NYSE:MNK) saw a significant growth in short interest in the month of 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. Based on an average daily volume of 3,783,377 shares, the short-interest ratio is currently 6.5 days. Currently, 26.3% of the shares of the stock are short sold.

MNK has been the topic of several research analyst reports. Zacks Investment Research lowered Mallinckrodt from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. UBS reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Mallinckrodt in a research note on Wednesday, September 6th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Mallinckrodt in a research note on Thursday, November 2nd. BidaskClub raised Mallinckrodt from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Finally, Deutsche Bank reaffirmed a “buy” rating and issued a $45.00 price objective (down from $56.00) on shares of Mallinckrodt in a research note on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $48.14.

Mallinckrodt (NYSE:MNK) opened at $23.57 on Friday. Mallinckrodt has a 1 year low of $19.00 and a 1 year high of $55.32. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.38. The stock has a market capitalization of $2,195.56, a PE ratio of 3.12, a PEG ratio of 0.42 and a beta of 1.30.

Mallinckrodt (NYSE:MNK) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $1.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.80 by $0.17. Mallinckrodt had a return on equity of 14.79% and a net margin of 11.43%. The company had revenue of $793.90 million during the quarter, compared to the consensus estimate of $808.93 million. During the same period last year, the company earned $2.04 earnings per share. The firm’s revenue was down 10.5% compared to the same quarter last year. research analysts predict that Mallinckrodt will post 7.2 EPS for the current fiscal year.

In other Mallinckrodt news, Director David R. Carlucci acquired 10,000 shares of Mallinckrodt stock in a transaction that occurred on Thursday, November 9th. The shares were acquired at an average cost of $21.83 per share, with a total value of $218,300.00. Following the completion of the purchase, the director now directly owns 26,020 shares of the company’s stock, valued at approximately $568,016.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dr Kneeland Youngblood acquired 4,560 shares of Mallinckrodt stock in a transaction that occurred on Tuesday, November 28th. The stock was acquired at an average cost of $21.94 per share, for a total transaction of $100,046.40. Following the completion of the purchase, the director now directly owns 19,789 shares of the company’s stock, valued at $434,170.66. The disclosure for this purchase can be found here. Insiders purchased 30,460 shares of company stock worth $659,486 in the last 90 days. 0.77% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of MNK. Sterling Capital Management LLC bought a new position in shares of Mallinckrodt during the second quarter worth about $204,000. Shelton Capital Management bought a new position in shares of Mallinckrodt during the third quarter worth about $205,000. Municipal Employees Retirement System of Michigan raised its position in shares of Mallinckrodt by 24.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 5,640 shares of the company’s stock worth $253,000 after acquiring an additional 1,110 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Mallinckrodt during the second quarter worth about $260,000. Finally, Alps Advisors Inc. raised its position in shares of Mallinckrodt by 22.3% during the second quarter. Alps Advisors Inc. now owns 6,465 shares of the company’s stock worth $290,000 after acquiring an additional 1,179 shares during the last quarter. Institutional investors own 97.36% of the company’s stock.

About Mallinckrodt

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.

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