Shares of Mallinckrodt PLC (NYSE:MNK) gapped down before the market opened on Wednesday . The stock had previously closed at $37.74, but opened at $36.45. Mallinckrodt PLC shares last traded at $35.64, with a volume of 2,804,328 shares.

A number of analysts recently weighed in on the stock. UBS AG reaffirmed a “buy” rating and set a $70.00 price target (down from $100.00) on shares of Mallinckrodt PLC in a research report on Thursday, June 29th. They noted that the move was a valuation call. BidaskClub cut shares of Mallinckrodt PLC from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Mizuho cut shares of Mallinckrodt PLC from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $70.00 to $40.00 in a research report on Wednesday. Wells Fargo & Company reaffirmed an “outperform” rating and set a $83.50 price target on shares of Mallinckrodt PLC in a research report on Wednesday, June 21st. Finally, Oppenheimer Holdings, Inc. set a $70.00 price objective on shares of Mallinckrodt PLC and gave the company a “buy” rating in a research report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $66.82.

The company’s market cap is $3.46 billion. The company has a 50-day moving average of $39.34 and a 200 day moving average of $43.53.

Mallinckrodt PLC (NYSE:MNK) last announced its earnings results on Tuesday, August 8th. The company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.73 by $0.12. The firm had revenue of $824.50 million for the quarter, compared to the consensus estimate of $829.56 million. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. The business’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.03 EPS. Equities analysts forecast that Mallinckrodt PLC will post $7.44 EPS for the current fiscal year.

In other news, insider Meredith B. Fischer bought 1,280 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were purchased at an average price of $39.63 per share, for a total transaction of $50,726.40. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.53% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in Mallinckrodt PLC by 4,060.7% in the 1st quarter. BlackRock Inc. now owns 8,734,709 shares of the company’s stock worth $389,307,000 after purchasing an additional 8,524,773 shares during the last quarter. Wells Fargo & Company MN grew its position in Mallinckrodt PLC by 9.7% in the 1st quarter. Wells Fargo & Company MN now owns 164,309 shares of the company’s stock worth $7,322,000 after purchasing an additional 14,485 shares during the last quarter. LS Investment Advisors LLC grew its position in Mallinckrodt PLC by 18.5% in the 1st quarter. LS Investment Advisors LLC now owns 6,116 shares of the company’s stock worth $273,000 after purchasing an additional 955 shares during the last quarter. Twin Capital Management Inc. grew its position in Mallinckrodt PLC by 70.1% in the 2nd quarter. Twin Capital Management Inc. now owns 78,050 shares of the company’s stock worth $3,497,000 after purchasing an additional 32,170 shares during the last quarter. Finally, Airain ltd grew its position in Mallinckrodt PLC by 225.2% in the 2nd quarter. Airain ltd now owns 116,378 shares of the company’s stock worth $5,215,000 after purchasing an additional 80,591 shares during the last quarter. Institutional investors own 97.48% of the company’s stock.

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About Mallinckrodt PLC

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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