Mallinckrodt PLC (NYSE:MNK) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report released on Friday.

Other analysts have also recently issued research reports about the company. UBS AG restated a “buy” rating and issued a $70.00 price target (down previously from $100.00) on shares of Mallinckrodt PLC in a research report on Thursday, June 29th. They noted that the move was a valuation call. Morgan Stanley set a $65.00 price target on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Deutsche Bank AG set a $68.00 price target on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Mizuho restated a “buy” rating and issued a $73.00 price target on shares of Mallinckrodt PLC in a research report on Wednesday, May 31st. Finally, Jefferies Group LLC restated a “buy” rating and issued a $70.00 price target on shares of Mallinckrodt PLC in a research report on Wednesday, May 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $68.99.

Mallinckrodt PLC (NYSE:MNK) opened at 41.17 on Friday. The firm has a 50-day moving average price of $41.15 and a 200 day moving average price of $44.41. Mallinckrodt PLC has a 52 week low of $35.04 and a 52 week high of $77.42. The company’s market cap is $4.00 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 analysts’ expectations of $829.56 million. Mallinckrodt PLC had a return on equity of 15.28% and a net margin of 12.64%. The business’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.03 earnings per share. Analysts expect that Mallinckrodt PLC will post $7.44 EPS for the current fiscal year.

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In other news, VP Hugh M. O’neill purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The stock was bought at an average cost of $40.24 per share, with a total value of $40,240.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Meredith B. Fischer purchased 1,280 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were purchased at an average cost of $39.63 per share, with a total value of $50,726.40. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 3,780 shares of company stock valued at $150,511. 0.77% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Retirement Systems of Alabama raised its stake in Mallinckrodt PLC by 20.9% in the first quarter. Retirement Systems of Alabama now owns 139,082 shares of the company’s stock valued at $6,199,000 after buying an additional 24,051 shares during the last quarter. Korea Investment CORP raised its stake in Mallinckrodt PLC by 45.5% in the first quarter. Korea Investment CORP now owns 91,800 shares of the company’s stock valued at $4,092,000 after buying an additional 28,700 shares during the last quarter. Profund Advisors LLC raised its stake in Mallinckrodt PLC by 3.6% in the first quarter. Profund Advisors LLC now owns 6,399 shares of the company’s stock valued at $285,000 after buying an additional 220 shares during the last quarter. ProShare Advisors LLC raised its stake in Mallinckrodt PLC by 3.9% in the first quarter. ProShare Advisors LLC now owns 33,133 shares of the company’s stock valued at $1,477,000 after buying an additional 1,259 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in Mallinckrodt PLC by 42.5% in the first quarter. Janney Montgomery Scott LLC now owns 22,320 shares of the company’s stock valued at $995,000 after buying an additional 6,657 shares during the last quarter. 97.48% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Mallinckrodt PLC (NYSE:MNK)

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