Mallinckrodt plc (MNK) has risen sharply, recording gains of 27.62% in the past 4 weeks. However, the stock has corrected -0.36% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 26.32% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 11.83% and the 50-Day Moving Average is 22.95%. Mallinckrodt plc (NYSE:MNK): stock turned positive on Friday. Though the stock opened at $78.82, the bulls momentum made the stock top out at $80.16 level for the day. The stock recorded a low of $77.4 and closed the trading day at $79.7, in the green by 0.91%. The total traded volume for the day was 1,346,589. The stock had closed at $78.98 in the previous days trading.
The company Insiders own 0.53% of Mallinckrodt plc shares according to the proxy statements. Institutional Investors own 99.62% of Mallinckrodt plc shares. During last six month period, the net percent change held by insiders has seen a change of 2.31%. Also, Stifel Nicolaus initiates coverage on Mallinckrodt plc (NYSE:MNK). The rating major has initiated the coverage with buy rating on the shares. The rating by the firm was issued on August 12, 2016.
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.