Mallinckrodt plc (NYSE:MNK) has tumbled 2.91% during the past week and has dropped 4.92% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 1.75%. Mallinckrodt plc (NYSE:MNK) has underperformed the index by 5.78% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Mallinckrodt plc (NYSE:MNK): The stock opened at $58.83 on Friday but the bulls could not build on the opening and the stock topped out at $58.99 for the day. The stock traded down to $57.39 during the day, due to lack of any buying support eventually closed down at $58.03 with a loss of -1.26% for the day. The stock had closed at $58.77 on the previous day. The total traded volume was 2,082,618 shares.
The company shares have dropped -53.21% from its 1 Year high price. On Jul 23, 2015, the shares registered one year high at $127.00 and the one year low was seen on Mar 16, 2016. The 50-Day Moving Average price is $61.13 and the 200 Day Moving Average price is recorded at $64.50.
On the companys insider trading activities, Harbaugh Matthew K, CFO of Mallinckrodt Plc had purchased 500 shares on May 10, 2016 in a transaction. The price per share was $59.37 and the total amount of the disclosed transaction was $29,685.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
Many analysts have stated their opinion on the company shares. Goldman Sachs initiates coverage on Mallinckrodt plc (NYSE:MNK). The current rating of the shares is Neutral, according to the research report released by the firm. The brokerage firm announces the price target at $73 per share. The rating by the firm was issued on June 6, 2016. Currently the company Insiders own 0.53% of Mallinckrodt plc shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by 1.5% . Institutional Investors own 97.68% of Mallinckrodt plc shares. During last six month period, the net percent change held by insiders has seen a change of 3.83%.
Mallinckrodt public limited company (Mallinckrodt) is a global specialty pharmaceuticals company. The Company develops, manufactures, markets and distributes both branded and generic specialty pharmaceuticals, active pharmaceutical ingredients (API) and diagnostic imaging agents. The Company uses its API products in the manufacture of its generic pharmaceuticals and also sells them to other pharmaceutical companies. The Company operates through two segments: Specialty Pharmaceuticals and Global Medical Imaging. The Companys Specialty Pharmaceuticals segment develops, manufactures and sells, through its Brands business, drugs, including EXALGO (hydromorphone HCl) Extended-Release Tablets and GABLOFEN. The Companys Global Medical Imaging segment develops, manufactures and markets contrast media and delivery systems (CMDS). The Company offers INOMAX Total Care (inhaled nitric oxide), a neonatal critical care product.