Mizuho Trims Mallinckrodt PLC (MNK) Target Price to $85.00
Mallinckrodt PLC (NYSE:MNK) had its target price lowered by investment analysts at Mizuho from $87.00 to $85.00 in a report released on Friday. The firm currently has a “buy” rating on the stock. Mizuho’s target price suggests a potential upside of 62.15% from the company’s previous close.
A number of other research firms also recently issued reports on MNK. Piper Jaffray Cos. increased their price target on Mallinckrodt PLC from $103.00 to $112.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 24th. Vetr raised Mallinckrodt PLC from a “hold” rating to a “buy” rating and set a $88.80 price objective on the stock in a research report on Monday, August 22nd. Jefferies Group reaffirmed a “buy” rating and set a $95.00 price objective (up previously from $85.00) on shares of Mallinckrodt PLC in a research report on Thursday, August 4th. Barclays PLC reaffirmed an “overweight” rating and set a $88.00 price objective on shares of Mallinckrodt PLC in a research report on Thursday, August 25th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $93.00 price objective on shares of Mallinckrodt PLC in a research report on Thursday, August 25th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $89.44.
Mallinckrodt PLC (NYSE:MNK) traded up 0.334% during midday trading on Friday, hitting $52.595. 583,919 shares of the stock traded hands. Mallinckrodt PLC has a 12 month low of $50.90 and a 12 month high of $85.83. The stock has a market cap of $5.67 billion, a PE ratio of 9.918 and a beta of 1.62. The company has a 50-day moving average of $61.54 and a 200-day moving average of $66.60.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings results on Tuesday, November 29th. The company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.03. Mallinckrodt PLC had a return on equity of 17.78% and a net margin of 16.39%. The business had revenue of $887.20 million for the quarter, compared to the consensus estimate of $880.10 million. During the same quarter in the prior year, the company earned $1.84 EPS. The business’s revenue was up 13.9% compared to the same quarter last year. On average, equities research analysts anticipate that Mallinckrodt PLC will post $7.66 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC raised its stake in shares of Mallinckrodt PLC by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,440 shares of the company’s stock valued at $100,000 after buying an additional 720 shares during the last quarter. Mizuho Asset Management Co. Ltd. raised 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 valued at $108,000 after buying an additional 984 shares during the last quarter. NEXT Financial Group Inc raised its stake in shares of Mallinckrodt PLC by 5.2% in the third quarter. NEXT Financial Group Inc now owns 1,676 shares of the company’s stock valued at $117,000 after buying an additional 83 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Mallinckrodt PLC during the third quarter valued at approximately $119,000. Finally, Rational Advisors LLC acquired a new stake in shares of Mallinckrodt PLC during the second quarter valued at approximately $137,000. Institutional investors own 86.51% 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.
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