Piper Jaffray Companies reiterated their buy rating on shares of Mallinckrodt PLC (NYSE:MNK) in a research note released on Thursday morning. The brokerage currently has a $67.00 price objective on the stock.
A number of other equities research analysts also recently commented on MNK. BidaskClub upgraded shares of Mallinckrodt PLC from a sell rating to a hold rating in a report on Tuesday, June 13th. Cantor Fitzgerald initiated coverage on shares of Mallinckrodt PLC in a report on Friday, June 16th. They set an overweight rating and a $52.00 price target for the company. Jefferies Group LLC reiterated a buy rating and set a $70.00 price target on shares of Mallinckrodt PLC in a report on Tuesday, June 20th. Wells Fargo & Company reiterated an outperform rating and set a $83.50 price target on shares of Mallinckrodt PLC in a report on Wednesday, June 21st. Finally, UBS AG reiterated a buy rating and set a $70.00 price target (down from $100.00) on shares of Mallinckrodt PLC in a report on Thursday, June 29th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $60.04.
Mallinckrodt PLC (NYSE MNK) traded up 0.87% during mid-day trading on Thursday, hitting $35.81. 1,597,529 shares of the stock traded hands. The firm’s 50-day moving average is $36.60 and its 200-day moving average is $41.78. Mallinckrodt PLC has a 12-month low of $33.61 and a 12-month high of $71.61. The company’s market cap is $3.48 billion.
Mallinckrodt PLC (NYSE:MNK) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. The business had revenue of $824.50 million during 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 company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.03 earnings per share. Equities research analysts expect that Mallinckrodt PLC will post $7.40 EPS for the current year.
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In other Mallinckrodt PLC news, insider Meredith B. Fischer acquired 1,280 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.77% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Denali Advisors LLC purchased a new stake in Mallinckrodt PLC during the second quarter worth approximately $112,000. Ameritas Investment Partners Inc. purchased a new stake in Mallinckrodt PLC during the first quarter worth approximately $115,000. O Shaughnessy Asset Management LLC grew its stake in Mallinckrodt PLC by 335.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,373 shares of the company’s stock worth $150,000 after buying an additional 2,599 shares during the period. Sterling Capital Management LLC purchased a new stake in Mallinckrodt PLC during the second quarter worth approximately $204,000. Finally, Baker Avenue Asset Management LP purchased a new stake in Mallinckrodt PLC during the first quarter worth approximately $223,000. 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.
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