Canaccord Genuity Initiates Coverage On Mallinckrodt PLC to Buy

Canaccord Genuity Initiates Coverage On Mallinckrodt PLC(MNK). The shares have been rated Buy. The rating by the stock financial advisor at Canaccord Genuity was issued on Feb 22, 2017 in a research report to their Investors and Clients.

Mallinckrodt PLC (MNK) made into the market gainers list on Wednesdays trading session with the shares advancing 0.18% or 0.1 points. Due to strong positive momentum, the stock ended at $54.21, which is also near the day’s high of $55.3245. The stock began the session at $54.7 and the volume stood at 17,47,954 shares. The 52-week high of the shares is $85.83 and the 52 week low is $42.6701. The company has a current market capitalization of $5,675 M and it has 10,46,94,686 shares in outstanding.

Mallinckrodt PLC(MNK) last announced its earnings results on Feb 7, 2017 for Fiscal Year 2017 and Q1.Company reported revenue of $829.900M. Analysts had an estimated revenue of $829.130M. Earnings per share were $1.91. Analysts had estimated an EPS of $1.83.

Several Insider Transactions has been reported to the SEC. On Feb 21, 2017, Ian J Watkins (Chief HR Officer) purchased 375 shares at $54.26 per share price.Also, On Feb 15, 2017, Mark Trudeau (CEO) purchased 1,000 shares at $50.47 per share price.On Feb 13, 2017, Steven J. Romano (Exec. VP & Chief Sci. Ofcr) purchased 1,000 shares at $49.68 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s Specialty Pharmaceuticals segment develops manufactures and sells through its Brands business drugs including EXALGO (hydromorphone HCl) Extended-Release Tablets and GABLOFEN. The Company’s 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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