Leerink Swann reissued their outperform rating on shares of Mallinckrodt PLC (NYSE:MNK) in a report released on Friday. The firm currently has a $92.00 price objective on the stock, up from their prior price objective of $91.00.

Several other equities analysts also recently commented on MNK. Barclays PLC upped their price objective on shares of Mallinckrodt PLC from $75.00 to $88.00 and gave the company an overweight rating in a research note on Wednesday, August 3rd. Vetr raised shares of Mallinckrodt PLC from a buy rating to a strong-buy rating and set a $72.20 price objective for the company in a research note on Monday, July 11th. Zacks Investment Research downgraded shares of Mallinckrodt PLC from a buy rating to a hold rating in a research note on Tuesday, July 12th. JPMorgan Chase & Co. set a $85.00 price objective on shares of Mallinckrodt PLC and gave the company a hold rating in a research note on Wednesday, August 3rd. Finally, Jefferies Group reaffirmed a buy rating and set a $95.00 price objective (up from $85.00) on shares of Mallinckrodt PLC in a research note on Thursday, August 4th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $94.66.

Shares of Mallinckrodt PLC (NYSE:MNK) traded up 0.70% during mid-day trading on Friday, reaching $76.65. The company’s stock had a trading volume of 138,150 shares. The company’s 50-day moving average is $76.09 and its 200 day moving average is $65.27. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of 14.45 and a beta of 1.52. Mallinckrodt PLC has a 12 month low of $50.90 and a 12 month high of $86.06.

Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.20. The business earned $970.60 million during the quarter, compared to the consensus estimate of $920.35 million. Mallinckrodt PLC had a net margin of 16.39% and a return on equity of 17.78%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.05 earnings per share. On average, equities analysts anticipate that Mallinckrodt PLC will post $7.69 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of MNK. Canada Pension Plan Investment Board increased its position in shares of Mallinckrodt PLC by 202.8% in the first quarter. Canada Pension Plan Investment Board now owns 19,224 shares of the company’s stock valued at $1,178,000 after buying an additional 12,876 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Mallinckrodt PLC by 56.6% in the first quarter. JPMorgan Chase & Co. now owns 580,343 shares of the company’s stock worth $35,563,000 after buying an additional 209,824 shares during the period. Squarepoint Ops LLC increased its position in shares of Mallinckrodt PLC by 406.7% in the first quarter. Squarepoint Ops LLC now owns 66,058 shares of the company’s stock worth $4,048,000 after buying an additional 53,022 shares during the period. Creative Planning increased its position in shares of Mallinckrodt PLC by 21.0% in the second quarter. Creative Planning now owns 8,702 shares of the company’s stock worth $529,000 after buying an additional 1,512 shares during the period. Finally, Panagora Asset Management Inc. increased its position in shares of Mallinckrodt PLC by 14.9% in the first quarter. Panagora Asset Management Inc. now owns 20,679 shares of the company’s stock worth $1,267,000 after buying an additional 2,676 shares during the period. Hedge funds and other institutional investors own 94.76% of the company’s stock.

Mallinckrodt PLC Company Profile

Mallinckrodt public limited company (Mallinckrodt) is engaged in the specialty pharmaceuticals and nuclear imaging business. The Company develops, manufactures, markets and distributes specialty pharmaceutical and biopharmaceutical products, and nuclear imaging agents. The Company’s segments include Specialty Brands, Specialty Generics and Nuclear Imaging.

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