Mallinckrodt PLC (NYSE:MNK) Reaches New 12-Month Low at $35.96
Mallinckrodt PLC (NYSE:MNK) shares hit a new 52-week low during trading on Monday . The company traded as low as $35.96 and last traded at $35.87, with a volume of 1,114,907 shares traded. The stock had previously closed at $36.52.
A number of research analysts recently commented on the company. Mizuho restated a “buy” rating and issued a $70.00 price target (down previously from $73.00) on shares of Mallinckrodt PLC in a research report on Wednesday, August 9th. BMO Capital Markets restated an “outperform” rating and issued a $65.00 price target (down previously from $69.00) on shares of Mallinckrodt PLC in a research report on Wednesday, August 9th. Raymond James Financial, Inc. decreased their price target on Mallinckrodt PLC from $65.00 to $58.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 9th. Deutsche Bank AG set a $56.00 price target on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Finally, UBS AG set a $70.00 price target on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $71.25.
The stock’s market cap is $3.47 billion. The company’s 50 day moving average price is $43.88 and its 200 day moving average price is $45.56.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. Mallinckrodt PLC had a return on equity of 15.28% and a net margin of 12.64%. The firm had revenue of $824.50 million during the quarter, compared to analysts’ expectations of $829.56 million. During the same period in the prior year, the business earned $2.03 EPS. The company’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Mallinckrodt PLC will post $7.48 EPS for the current fiscal year.
In other news, VP Coleman N. Lannum III acquired 1,350 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was purchased at an average cost of $42.89 per share, for a total transaction of $57,901.50. Following the acquisition, the vice president now owns 30,955 shares of the company’s stock, valued at $1,327,659.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Steven J. Romano acquired 1,000 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was purchased at an average price of $39.88 per share, with a total value of $39,880.00. The disclosure for this purchase can be found here. Insiders bought a total of 3,850 shares of company stock valued at $157,687 over the last quarter. Company insiders own 0.53% of the company’s stock.
Several institutional investors have recently bought and sold shares of MNK. IFP Advisors Inc boosted its position in Mallinckrodt PLC by 324.6% in the first quarter. IFP Advisors Inc now owns 2,518 shares of the company’s stock worth $112,000 after buying an additional 1,925 shares during the last quarter. Denali Advisors LLC purchased a new position in Mallinckrodt PLC during the second quarter worth about $112,000. Ameritas Investment Partners Inc. purchased a new position in Mallinckrodt PLC during the first quarter worth about $115,000. Daiwa Securities Group Inc. boosted its position in Mallinckrodt PLC by 18.5% in the first quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the company’s stock worth $143,000 after buying an additional 500 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in Mallinckrodt PLC by 335.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,373 shares of the company’s stock worth $150,000 after buying an additional 2,599 shares during the last quarter. Hedge funds and other institutional investors own 94.65% of the company’s stock.
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Mallinckrodt PLC Company Profile
Mallinckrodt public limited company develops, manufactures, markets and distributes branded and generic specialty pharmaceutical products and therapies. The Company focuses on various therapeutic areas, such as autoimmune and rare disease specialty areas, including neurology, rheumatology, nephrology, ophthalmology and pulmonology; immunotherapy and neonatal critical care respiratory therapies; analgesics and hemostasis products, and central nervous system drugs.
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