Mallinckrodt PLC’s (MNK) “Buy” Rating Reiterated at Stifel Nicolaus
A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Mallinckrodt PLC from a hold rating to a sell rating in a report on Tuesday, July 11th. Piper Jaffray Companies reaffirmed a buy rating and issued a $67.00 target price on shares of Mallinckrodt PLC in a report on Friday, September 15th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Mallinckrodt PLC in a report on Thursday, September 28th. They issued a buy rating and a $55.00 target price for the company. UBS AG reaffirmed a buy rating and issued a $70.00 target price on shares of Mallinckrodt PLC in a report on Wednesday, September 6th. Finally, Wells Fargo & Company reaffirmed an outperform rating and issued a $83.50 target price on shares of Mallinckrodt PLC in a report on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company’s stock. Mallinckrodt PLC currently has a consensus rating of Buy and a consensus price target of $60.04.
Mallinckrodt PLC (MNK) opened at 35.81 on Friday. Mallinckrodt PLC has a 52 week low of $33.61 and a 52 week high of $71.61. The stock has a 50 day moving average of $36.60 and a 200-day moving average of $41.78. The stock’s market cap is $3.48 billion.
Mallinckrodt PLC (NYSE:MNK) last issued its earnings results on Tuesday, August 8th. The company reported $1.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.12. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. The company had revenue of $824.50 million during the quarter, compared to analysts’ expectations of $829.56 million. During the same period last year, the company posted $2.03 earnings per share. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. Analysts forecast that Mallinckrodt PLC will post $7.40 earnings per share for the current year.
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In other news, insider Meredith B. Fischer bought 1,280 shares of the firm’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Denali Advisors LLC acquired a new stake in Mallinckrodt PLC during the second quarter worth approximately $112,000. Ameritas Investment Partners Inc. acquired a new position in shares of Mallinckrodt PLC in the 1st quarter valued at $115,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of 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. Sterling Capital Management LLC acquired a new position in shares of Mallinckrodt PLC in the 2nd quarter valued at $204,000. Finally, Baker Avenue Asset Management LP acquired a new position in shares of Mallinckrodt PLC in the 1st quarter valued at $223,000. Hedge funds and other 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.
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