Mallinckrodt PLC’s (MNK) “Buy” Rating Reiterated at UBS AG
UBS AG reissued their buy rating on shares of Mallinckrodt PLC (NYSE:MNK) in a research report report published on Wednesday morning, www.tipranks.com reports. UBS AG currently has a $70.00 price objective on the stock.
Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Mallinckrodt PLC from a sell rating to a strong sell rating in a research note on Friday, August 18th. Mizuho reiterated a buy rating and set a $73.00 target price on shares of Mallinckrodt PLC in a research note on Wednesday, May 31st. Wells Fargo & Company reiterated an outperform rating and set a $83.50 target price on shares of Mallinckrodt PLC in a research note on Wednesday, June 21st. Oppenheimer Holdings, Inc. set a $70.00 target price on shares of Mallinckrodt PLC and gave the stock a buy rating in a research note on Tuesday, August 8th. Finally, Raymond James Financial, Inc. lowered their target price on shares of Mallinckrodt PLC from $65.00 to $58.00 and set an outperform rating for the company in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $68.49.
Shares of Mallinckrodt PLC (MNK) traded up 0.48% during mid-day trading on Wednesday, reaching $35.33. The company’s stock had a trading volume of 1,910,832 shares. The stock has a 50 day moving average of $39.95 and a 200-day moving average of $43.93. The stock’s market cap is $3.43 billion. Mallinckrodt PLC has a one year low of $34.51 and a one year high of $77.25.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $1.85 earnings per share 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 business had revenue of $824.50 million for the quarter, compared to analyst estimates of $829.56 million. During the same quarter in the prior year, the company earned $2.03 earnings per share. The company’s revenue was down 4.9% on a year-over-year basis. On average, equities research analysts expect that Mallinckrodt PLC will post $7.44 EPS for the current fiscal year.
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In other news, insider Meredith B. Fischer purchased 1,280 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was purchased at an average cost of $39.63 per share, with a total value of $50,726.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.77% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc raised its holdings in Mallinckrodt PLC by 324.6% during the first quarter. IFP Advisors Inc now owns 2,518 shares of the company’s stock worth $112,000 after purchasing an additional 1,925 shares in 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. raised its holdings in Mallinckrodt PLC by 18.5% during the first quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the company’s stock worth $143,000 after purchasing an additional 500 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in Mallinckrodt PLC by 335.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,373 shares of the company’s stock worth $150,000 after purchasing an additional 2,599 shares in the last quarter. 97.48% of the stock is owned by hedge funds and other institutional investors.
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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