Cantor Fitzgerald Reiterates “$52.00” Price Target for Mallinckrodt PLC (MNK)
A number of other brokerages have also issued reports on MNK. Deutsche Bank AG set a $56.00 price target on Mallinckrodt PLC and gave the stock a buy rating in a research note on Wednesday, August 9th. Piper Jaffray Companies set a $85.00 price target on Mallinckrodt PLC and gave the stock a buy rating in a research note on Monday, August 7th. Jefferies Group LLC reissued a buy rating and issued a $70.00 price target on shares of Mallinckrodt PLC in a research note on Thursday, August 3rd. Oppenheimer Holdings, Inc. set a $70.00 price target on Mallinckrodt PLC and gave the stock a buy rating in a research note on Friday, July 28th. Finally, Raymond James Financial, Inc. decreased their price target on Mallinckrodt PLC from $65.00 to $58.00 and set an outperform rating on the stock in a research note on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $60.04.
Shares of Mallinckrodt PLC (MNK) traded up 1.10% during mid-day trading on Monday, reaching $35.89. 284,830 shares of the company traded hands. The company’s 50 day moving average is $36.62 and its 200 day moving average is $41.85. Mallinckrodt PLC has a 52-week low of $33.61 and a 52-week high of $71.61. The stock’s market capitalization is $3.49 billion.
Mallinckrodt PLC (NYSE:MNK) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $1.85 earnings per share (EPS) 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 analyst estimates of $829.56 million. During the same period last year, the company earned $2.03 EPS. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. On average, equities analysts forecast that Mallinckrodt PLC will post $7.41 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This article was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another domain, it was copied illegally and reposted in violation of international copyright and trademark law. The correct version of this article can be accessed at https://www.thecerbatgem.com/2017/10/06/cantor-fitzgerald-reiterates-52-00-price-target-for-mallinckrodt-plc-mnk.html.
In other Mallinckrodt PLC news, insider Meredith B. Fischer acquired 1,280 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were bought at an average cost of $39.63 per share, for a total transaction of $50,726.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.77% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of MNK. Wells Fargo & Company MN increased its holdings in Mallinckrodt PLC by 9.7% during 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. American Century Companies Inc. increased its holdings in Mallinckrodt PLC by 40.6% during the 1st quarter. American Century Companies Inc. now owns 11,200 shares of the company’s stock worth $499,000 after purchasing an additional 3,233 shares during the last quarter. Karp Capital Management Corp purchased a new stake in Mallinckrodt PLC during the 1st quarter worth approximately $1,538,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Mallinckrodt PLC by 28.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,772 shares of the company’s stock worth $346,000 after purchasing an additional 1,704 shares during the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new stake in Mallinckrodt PLC during the 1st quarter worth approximately $115,000. Institutional investors own 97.40% 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.
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.