Analysts Set Mallinckrodt PLC (MNK) PT at $64.40
Mallinckrodt PLC (NYSE:MNK) has been assigned an average rating of “Buy” from the twenty-two research firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $63.11.
Several research analysts have weighed in on MNK shares. Deutsche Bank AG set a $56.00 price objective on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a report on Wednesday, August 9th. Piper Jaffray Companies set a $85.00 price objective on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a report on Monday, August 7th. Oppenheimer Holdings, Inc. set a $70.00 price objective on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a report on Friday, July 28th. Jefferies Group LLC reissued a “buy” rating and set a $70.00 price objective on shares of Mallinckrodt PLC in a report on Thursday, August 3rd. Finally, Raymond James Financial, Inc. decreased their price objective on shares of Mallinckrodt PLC from $65.00 to $58.00 and set an “outperform” rating for the company in a report on Wednesday, August 9th.
Shares of Mallinckrodt PLC (NYSE:MNK) traded up 1.23% during trading on Friday, hitting $34.49. 1,433,116 shares of the company were exchanged. The stock’s market cap is $3.35 billion. Mallinckrodt PLC has a 12 month low of $33.61 and a 12 month high of $76.81. The company’s 50-day moving average price is $37.65 and its 200 day moving average price is $42.88.
Mallinckrodt PLC (NYSE:MNK) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.12. The company had revenue of $824.50 million during the quarter, compared to analyst estimates of $829.56 million. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period last year, the business earned $2.03 EPS. On average, equities analysts predict that Mallinckrodt PLC will post $7.43 earnings per share for the current fiscal year.
In other news, insider Meredith B. Fischer acquired 1,280 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were purchased at an average cost of $39.63 per share, for a total transaction of $50,726.40. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.53% of the company’s stock.
A number of large investors have recently modified their holdings of MNK. Denali Advisors LLC bought a new stake in Mallinckrodt PLC in the 2nd quarter valued at about $112,000. Ameritas Investment Partners Inc. bought a new stake in Mallinckrodt PLC in the 1st quarter valued at about $115,000. Daiwa Securities Group Inc. lifted its position in Mallinckrodt PLC by 18.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the company’s stock valued at $143,000 after purchasing an additional 500 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in Mallinckrodt PLC by 335.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,373 shares of the company’s stock valued at $150,000 after purchasing an additional 2,599 shares during the last quarter. Finally, Sterling Capital Management LLC bought a new stake in Mallinckrodt PLC in the 2nd quarter valued at about $204,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.
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.
Receive News & Stock Ratings for Mallinckrodt PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mallinckrodt PLC and related stocks with our FREE daily email newsletter.