Mallinckrodt PLC (MNK) Price Target Cut to $89.00 by Analysts at Mizuho
MNK has been the subject of several other reports. Leerink Swann set a $91.00 price objective on Mallinckrodt PLC and gave the stock a buy rating in a research report on Wednesday, August 3rd. TheStreet raised Mallinckrodt PLC from a hold rating to a buy rating in a research report on Friday, June 17th. Wells Fargo & Co. reaffirmed a buy rating on shares of Mallinckrodt PLC in a research report on Friday, June 10th. Zacks Investment Research raised Mallinckrodt PLC from a hold rating to a buy rating and set a $69.00 price objective for the company in a research report on Tuesday, July 5th. Finally, Vetr cut Mallinckrodt PLC from a strong-buy rating to a buy rating and set a $72.20 price objective for the company. in a research report on Wednesday, July 20th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $94.54.
Shares of Mallinckrodt PLC (NYSE:MNK) traded up 1.30% on Thursday, reaching $69.89. The company had a trading volume of 319,699 shares. Mallinckrodt PLC has a 52 week low of $50.90 and a 52 week high of $85.83. The company’s 50-day moving average price is $75.94 and its 200 day moving average price is $66.05. The firm has a market capitalization of $7.53 billion, a P/E ratio of 13.18 and a beta of 1.52.
Mallinckrodt PLC (NYSE:MNK) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $2.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.00 by $0.20. Mallinckrodt PLC had a return on equity of 17.78% and a net margin of 16.39%. The company had revenue of $970.60 million for the quarter, compared to the consensus estimate of $920.35 million. During the same quarter in the prior year, the business earned $2.05 EPS. Mallinckrodt PLC’s revenue was up .6% on a year-over-year basis. On average, analysts expect that Mallinckrodt PLC will post $7.66 EPS for the current year.
Large investors have recently made changes to their positions in the stock. Mizuho Asset Management Co. Ltd. boosted its stake in shares of Mallinckrodt PLC by 125.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,771 shares of the company’s stock worth $108,000 after buying an additional 984 shares during the period. Rational Advisors LLC bought a new stake in shares of Mallinckrodt PLC during the second quarter worth approximately $137,000. Advisor Group Inc. bought a new stake in shares of Mallinckrodt PLC during the second quarter worth approximately $196,000. Thrivent Financial for Lutherans bought a new stake in shares of Mallinckrodt PLC during the second quarter worth approximately $201,000. Finally, Laurel Wealth Advisors Inc. boosted its stake in shares of Mallinckrodt PLC by 0.5% in the second quarter. Laurel Wealth Advisors Inc. now owns 3,427 shares of the company’s stock worth $208,000 after buying an additional 16 shares during the period. Hedge funds and other institutional investors own 94.74% of the company’s stock.
Mallinckrodt PLC Company Profile
Mallinckrodt public limited company (Mallinckrodt) is engaged in the specialty pharmaceuticals and nuclear imaging business. The Company develops, manufactures, markets and distributes specialty pharmaceutical and biopharmaceutical products, and nuclear imaging agents. The Company’s segments include Specialty Brands, Specialty Generics and Nuclear Imaging.
Receive News & Stock Ratings for Mallinckrodt PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mallinckrodt PLC and related stocks with our FREE daily email newsletter.