Noticeable Insider Trading: Mallinckrodt PLC (MNK)

Mallinckrodt PLC (NYSE:MNK) insider has recently participated in insider trading activity. Sr.VP, Investor Strategy & IRO, Lannum Coleman N III bought 600 shares for $ 35,796 via one transaction Feb 12. Following the transaction, the insider now owns 17,940 shares in total, priced at $1152106.8 as of Tuesday. Another notable insider trading was done by the same insider on Feb 10. Lannum Coleman N III acquired 700 shares at an average price of $62.55 for a total of $43,785. Moreover, this insider carried out a sale of 600 shares at $62.61 each on Feb 10. The transaction amounted to $37,566. Sr. VP & CFO Harbaugh Matthew K bought 1,300 shares for $81,900 through one transaction Feb 09. Following this sale, this insider’s stake in the company comprises 55,383 shares, priced at $3556696.26 as of Tuesday.

The stock has experienced a total of 50 insider trades in the past three months. These trades include 16 sell activities and 34 buy trades. Furthermore, over the past 12 months, the stock was traded 95 times by insiders. In 32 of these trades, the insider was a seller while an employee of the company was the buyer in just 63 instances.

On February 2, 2016, Mallinckrodt PLC (MNK) a leading global specialty biopharmaceutical company, reported results for the first quarter of fiscal 2016. Amounts reported reflect presentation of the company’s former contrast media and delivery systems (CMDS) business as a discontinued operation. Unless otherwise noted, all comparisons of first quarter fiscal 2016 performance are to the first quarter of fiscal 2015.

Total company net sales were $914.8 million in the first quarter of fiscal 2016, up 20.3% on an operational basis from $768.2 million. Exceptional Specialty Brands segment performance, up 45.4%, was the primary growth contributor driven by solid organic growth in H.P. Acthar Gel (repository corticosteroid injection) and the inclusion of INOMAX (nitric oxide) for inhalation and Therakos® immunotherapy. Specialty Brands results were offset by decreased net sales within the Specialty Generics segment. The impact of foreign currency also lowered reported net sales by $9.2 million.

Mallinckrodt public limited company develops, manufactures, markets, and distributes specialty pharmaceutical and biopharmaceutical products, and nuclear imaging agents in the United States, Europe, the Middle East, Africa, and internationally. The company’s Specialty Brands segment markets branded pharmaceutical and biopharmaceutical products for autoimmune and rare diseases; immunotherapy and neonatal respiratory critical care therapies; and central nervous system drugs. This segment offers Acthar, an injectable biopharmaceutical drug for various indications, such as neurology, rheumatology, nephrology, and pulmonology; Ofirmev, an intravenous formulation of acetaminophen for pain management; Inomax for inhalation; Therakos, an immunotherapy treatment platform; and Exalgo, a form of hydromorphone.