Mallinckrodt PLC (MNK) PT Lowered to $60.00 at Jefferies Group LLC
Mallinckrodt PLC (NYSE:MNK) had its price target trimmed by Jefferies Group LLC from $70.00 to $60.00 in a research note issued to investors on Friday. The brokerage currently has a buy rating on the stock. Jefferies Group also issued estimates for Mallinckrodt PLC’s Q1 2018 earnings at $1.66 EPS and Q2 2018 earnings at $1.91 EPS.
Several other analysts have also commented on MNK. UBS AG reiterated a buy rating and set a $70.00 price objective (down previously from $100.00) on shares of Mallinckrodt PLC in a report on Thursday, June 29th. They noted that the move was a valuation call. BMO Capital Markets reiterated an outperform rating and set a $65.00 price objective (down previously from $69.00) on shares of Mallinckrodt PLC in a report on Wednesday, August 9th. BidaskClub lowered Mallinckrodt PLC from a hold rating to a sell rating in a report on Tuesday, August 8th. Deutsche Bank AG set a $56.00 price objective on Mallinckrodt PLC and gave the company a buy rating in a report on Wednesday, August 9th. Finally, Raymond James Financial, Inc. decreased their price objective on Mallinckrodt PLC from $65.00 to $58.00 and set an outperform rating for the company in a report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $68.99.
Mallinckrodt PLC (MNK) opened at 38.98 on Friday. The stock’s 50 day moving average price is $41.61 and its 200-day moving average price is $44.76. The firm’s market capitalization is $3.79 billion. Mallinckrodt PLC has a 12 month low of $35.04 and a 12 month high of $77.42.
Mallinckrodt PLC (NYSE:MNK) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $1.85 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $829.56 million. During the same quarter in the prior year, the business posted $2.03 EPS. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. Equities analysts anticipate that Mallinckrodt PLC will post $7.45 EPS for the current fiscal year.
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In related news, VP Coleman N. Lannum III acquired 1,350 shares of Mallinckrodt PLC stock in a transaction on Friday, June 2nd. The stock was acquired at an average price of $42.89 per share, for a total transaction of $57,901.50. Following the purchase, the vice president now owns 30,955 shares of the company’s stock, valued at approximately $1,327,659.95. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Steven J. Romano acquired 1,000 shares of Mallinckrodt PLC stock in a transaction on Friday, June 9th. The shares were bought 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 have acquired a total of 3,850 shares of company stock valued at $157,687 in the last quarter. Company insiders own 0.53% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in MNK. Lord Abbett & CO. LLC raised its position in Mallinckrodt PLC by 2.1% in the second quarter. Lord Abbett & CO. LLC now owns 610,870 shares of the company’s stock worth $27,373,000 after buying an additional 12,700 shares during the last quarter. Sentry Investment Management LLC raised its position in Mallinckrodt PLC by 1.6% in the second quarter. Sentry Investment Management LLC now owns 52,676 shares of the company’s stock worth $2,360,000 after buying an additional 817 shares during the last quarter. Toronto Dominion Bank raised its position in Mallinckrodt PLC by 42.2% in the second quarter. Toronto Dominion Bank now owns 40,221 shares of the company’s stock worth $1,802,000 after buying an additional 11,935 shares during the last quarter. Sterling Capital Management LLC bought a new position in Mallinckrodt PLC during the second quarter worth $204,000. Finally, Janus Henderson Group PLC raised its position in Mallinckrodt PLC by 6,828.1% in the second quarter. Janus Henderson Group PLC now owns 1,396,780 shares of the company’s stock worth $62,590,000 after buying an additional 1,376,619 shares during the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.
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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