BMO Capital Markets reaffirmed their buy rating on shares of Mallinckrodt PLC (NYSE:MNK) in a report published on Friday morning. The brokerage currently has a $69.00 price objective on the stock.

Other analysts have also recently issued research reports about the company. Morgan Stanley set a $65.00 target price on Mallinckrodt PLC and gave the stock a buy rating in a report on Wednesday, May 31st. Deutsche Bank AG set a $68.00 target price on Mallinckrodt PLC and gave the stock a buy rating in a report on Wednesday, May 31st. Mizuho reiterated a buy rating and set a $73.00 target price on shares of Mallinckrodt PLC in a report on Wednesday, May 31st. Jefferies Group LLC reiterated a buy rating and set a $70.00 target price on shares of Mallinckrodt PLC in a report on Wednesday, May 31st. Finally, UBS AG set a $70.00 target price on Mallinckrodt PLC and gave the stock a buy rating in a report on Wednesday, May 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $74.09.

Shares of Mallinckrodt PLC (MNK) opened at 45.80 on Friday. Mallinckrodt PLC has a 12 month low of $38.80 and a 12 month high of $85.83. The stock’s 50 day moving average is $44.65 and its 200 day moving average is $46.02. The firm’s market cap is $4.55 billion.

Mallinckrodt PLC (NYSE:MNK) last issued its earnings results on Monday, May 8th. The company reported $1.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.05. Mallinckrodt PLC had a return on equity of 16.33% and a net margin of 16.01%. The business had revenue of $810.90 million during the quarter, compared to analysts’ expectations of $781.23 million. During the same quarter in the previous year, the business earned $2.01 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, analysts anticipate that Mallinckrodt PLC will post $7.55 earnings per share for the current fiscal year.

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In other Mallinckrodt PLC news, VP Coleman N. Lannum III bought 1,968 shares of the business’s stock in a transaction on Friday, May 12th. The shares were bought at an average cost of $46.20 per share, with a total value of $90,921.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Steven J. Romano bought 1,000 shares of the business’s stock in a transaction on Friday, June 9th. The stock was acquired at an average cost of $39.88 per share, for a total transaction of $39,880.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 5,818 shares of company stock worth $248,608. 0.53% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in MNK. Acadian Asset Management LLC raised its position in shares of Mallinckrodt PLC by 48.9% in the first quarter. Acadian Asset Management LLC now owns 723,612 shares of the company’s stock worth $32,252,000 after buying an additional 237,728 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Mallinckrodt PLC by 3.9% in the first quarter. ProShare Advisors LLC now owns 33,133 shares of the company’s stock worth $1,477,000 after buying an additional 1,259 shares during the last quarter. Profund Advisors LLC raised its position in shares of Mallinckrodt PLC by 3.6% in the first quarter. Profund Advisors LLC now owns 6,399 shares of the company’s stock worth $285,000 after buying an additional 220 shares during the last quarter. Korea Investment CORP raised its position in shares of Mallinckrodt PLC by 45.5% in the first quarter. Korea Investment CORP now owns 91,800 shares of the company’s stock worth $4,092,000 after buying an additional 28,700 shares during the last quarter. Finally, Retirement Systems of Alabama raised its position in shares of Mallinckrodt PLC by 20.9% in the first quarter. Retirement Systems of Alabama now owns 139,082 shares of the company’s stock worth $6,199,000 after buying an additional 24,051 shares during the last quarter. 95.76% of the stock is currently 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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