Canaccord Genuity Analysts Give Mallinckrodt PLC (MNK) a $24.00 Price Target
Other analysts also recently issued reports about the stock. Oppenheimer Holdings, Inc. reduced their price target on shares of Mallinckrodt PLC from $70.00 to $48.00 in a report on Tuesday, September 19th. Mizuho reiterated a buy rating and issued a $70.00 price target (down from $73.00) on shares of Mallinckrodt PLC in a report on Wednesday, August 9th. Deutsche Bank AG set a $56.00 price target on shares of Mallinckrodt PLC and gave the company a buy rating in a report on Wednesday, August 9th. UBS AG set a $70.00 price target on shares of Mallinckrodt PLC and gave the company a buy rating in a report on Wednesday, August 9th. Finally, Piper Jaffray Companies set a $85.00 price objective on shares of Mallinckrodt PLC and gave the stock a buy rating in a research note on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company. Mallinckrodt PLC currently has an average rating of Hold and an average target price of $48.14.
Shares of Mallinckrodt PLC (NYSE:MNK) traded down $0.07 during midday trading on Tuesday, reaching $22.38. 2,570,127 shares of the company’s stock were exchanged, compared to its average volume of 2,521,251. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.38. The company has a market cap of $2,130.00, a P/E ratio of 2.93, a P/E/G ratio of 0.32 and a beta of 1.46. Mallinckrodt PLC has a one year low of $19.00 and a one year high of $58.09.
Mallinckrodt PLC (NYSE:MNK) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.17. The company had revenue of $793.90 million for the quarter, compared to the consensus estimate of $808.93 million. Mallinckrodt PLC had a net margin of 11.43% and a return on equity of 14.79%. Mallinckrodt PLC’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.04 EPS. equities analysts anticipate that Mallinckrodt PLC will post 7.23 earnings per share for the current fiscal year.
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In related news, VP Steven J. Romano acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was bought at an average price of $21.96 per share, for a total transaction of $43,920.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Meredith B. Fischer purchased 1,280 shares of Mallinckrodt PLC stock in a transaction dated Wednesday, August 30th. The stock was acquired at an average price of $39.63 per share, with a total value of $50,726.40. The disclosure for this purchase can be found here. Insiders have purchased a total of 27,180 shares of company stock valued at $610,166 in the last quarter. 0.77% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of MNK. OppenheimerFunds Inc. raised its holdings in shares of Mallinckrodt PLC by 23.1% in the 1st quarter. OppenheimerFunds Inc. now owns 8,887 shares of the company’s stock valued at $396,000 after purchasing an additional 1,666 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Mallinckrodt PLC in the 1st quarter valued at about $373,000. Teachers Advisors LLC raised its holdings in shares of Mallinckrodt PLC by 4.3% in the 1st quarter. Teachers Advisors LLC now owns 187,286 shares of the company’s stock valued at $8,347,000 after purchasing an additional 7,753 shares in the last quarter. Xact Kapitalforvaltning AB raised its holdings in shares of Mallinckrodt PLC by 4.6% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 8,525 shares of the company’s stock valued at $382,000 after purchasing an additional 374 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of Mallinckrodt PLC by 44.7% in the 2nd quarter. Creative Planning now owns 6,938 shares of the company’s stock valued at $311,000 after purchasing an additional 2,144 shares in the last quarter. Institutional investors and hedge funds own 98.83% 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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