Mallinckrodt plc (MNK) was one of the best performers amongst all companies listed in the health care sector on the NYSE and NASDAQ exchanges during trading on September 12, climbing 1.99% to wrap the day at $39.01 after closing the day prior at $38.25. Throughout the trading session, shares of MNK rose as high as $39.26 and dipped as low as $38.1. Today’s advance came with about 2.48 million shares changing hands, compared to an average 30-day volume of 2.77 million for Mallinckrodt plc. The price is currently below the 30-day volume weighted average price of $38.96 for MNK.
The share appreciation today gives the company a market capitalization of $3.72 billion based upon 97.18 million shares outstanding. It also means that MNK has a price-to-book ratio of 0.73:1.
In the past 52 weeks, shares of MNK have traded as low as $35.04 and as high as $81.04. Technical traders will take note that at $39.01, shares of MNK are trading below their 200-day MA at $47.35 and below their 50-day MA at $42.45. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is MNK?
Mallinckrodt PLC is a drug manufacturing company that develops, manufactures, markets and distributes specialty pharmaceutical and biopharmaceutical products. It operates in two segments including branded pharmaceuticals and generic drugs. The company’s 4500 employees are led by CEO Mark C. Trudeau from the corporate headquarters at Perth House, Millennium Way in Chesterfield, Derbyshire.
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