Shares of Mallinckrodt plc (MNK) Sees Large Outflow of Money

Mallinckrodt plc (MNK): The stock had negative money flow to the tune of ($1.23 million) on Tuesday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $22.88 million, whereas, the outflow of money on downticks was $24.11 million and the ratio between the two was 0.95. The block trade had a negative net money flow of ($0.75 million). On the other hand, downticks amounted to $0.75 million of the traded value, which shows distribution in the stock by traders. Mallinckrodt plc (MNK) closed with marginal gains of 85 cents to end the day at $75.05, an increase of 1.15% over the previous days close. The stock recorded 0.17% for the week.


Also, Brokerage firm Barclays maintains its rating on Mallinckrodt plc (NYSE:MNK). In a research note issued to the investors, the brokerage major maintains price-target of $88 per share.The shares have been rated Overweight. The rating by the firm was issued on August 25, 2016.

Mallinckrodt Public Limited Company has dropped 9.64% in the last five trading days, however, the shares have posted positive gains of 11.4% in the last 4 weeks. Mallinckrodt Public Limited Company is up 15.13% in the last 3-month period. Year-to-Date the stock performance stands at 0.56%.

Mallinckrodt plc (NYSE:MNK): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $74.51 and $74.01 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $75.57. The buying momentum continued till the end and the stock did not give up its gains. It closed at $75.05, notching a gain of 1.15% for the day. The total traded volume was 1,722,599 . The stock had closed at $74.20 on the previous day.

In a related news, The Securities and Exchange Commission has divulged in a Form 4 filing that the CFO of Mallinckrodt Plc, Harbaugh Matthew K had purchased shares worth of $29,685 in a transaction dated on May 10, 2016. A total of 500 shares were purchased at a price of $59.37 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

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.

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