Mallinckrodt PLC (MNK) Given New $45.00 Price Target at Citigroup Inc.
Mallinckrodt PLC (NYSE:MNK) had its price target lowered by Citigroup Inc. to $45.00 in a research report report published on Thursday, The Fly reports. Citigroup Inc. currently has a buy rating on the stock.
A number of other equities analysts also recently weighed in on MNK. UBS AG set a $70.00 target price on Mallinckrodt PLC and gave the stock a buy rating in a research note on Wednesday, May 24th. Jefferies Group LLC restated a buy rating and issued a $70.00 target price on shares of Mallinckrodt PLC in a research note on Wednesday, May 31st. Mizuho restated a buy rating and issued a $73.00 target price on shares of Mallinckrodt PLC in a research note on Wednesday, May 31st. Deutsche Bank AG set a $68.00 price objective on Mallinckrodt PLC and gave the company a buy rating in a research note on Wednesday, May 31st. Finally, Morgan Stanley set a $65.00 price objective on Mallinckrodt PLC and gave the company a buy rating in a research note on Wednesday, May 31st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $64.15.
Mallinckrodt PLC (MNK) opened at 34.27 on Thursday. The company’s market cap is $3.33 billion. Mallinckrodt PLC has a 52 week low of $34.17 and a 52 week high of $77.25. The stock’s 50 day moving average price is $38.33 and its 200-day moving average price is $43.27.
Mallinckrodt PLC (NYSE:MNK) last announced its earnings results 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 firm had revenue of $824.50 million for the quarter, compared to the consensus estimate of $829.56 million. During the same quarter in the previous year, the business earned $2.03 EPS. The company’s revenue was down 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Mallinckrodt PLC will post $7.43 earnings per share for the current fiscal year.
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In other Mallinckrodt PLC news, insider Meredith B. Fischer bought 1,280 shares of the stock in a transaction on Wednesday, August 30th. The shares were acquired at an average price of $39.63 per share, with a total value of $50,726.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.53% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. increased its holdings in shares of Mallinckrodt PLC by 1.3% in the second quarter. Meeder Asset Management Inc. now owns 15,900 shares of the company’s stock worth $712,000 after purchasing an additional 209 shares during the period. Profund Advisors LLC increased its holdings in shares of Mallinckrodt PLC by 3.6% in the first quarter. Profund Advisors LLC now owns 6,399 shares of the company’s stock worth $285,000 after purchasing an additional 220 shares during the period. Xact Kapitalforvaltning AB increased its holdings in shares of Mallinckrodt PLC by 4.6% in the second quarter. Xact Kapitalforvaltning AB now owns 8,525 shares of the company’s stock worth $382,000 after purchasing an additional 374 shares during the period. Amalgamated Bank increased its holdings in shares of Mallinckrodt PLC by 6.2% in the first quarter. Amalgamated Bank now owns 7,625 shares of the company’s stock worth $340,000 after purchasing an additional 447 shares during the period. Finally, Daiwa Securities Group Inc. increased its holdings in shares of 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 purchasing an additional 500 shares during the period. 97.40% of the stock is currently owned by institutional investors and hedge funds.
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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