Mallinckrodt PLC (MNK) Earns “Buy” Rating from Mizuho
Mallinckrodt PLC (NYSE:MNK)‘s stock had its “buy” rating reiterated by stock analysts at Mizuho in a report issued on Wednesday. They presently have a $70.00 target price on the stock, down from their prior target price of $73.00. Mizuho’s target price would suggest a potential upside of 85.58% from the stock’s current price.
Several other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Mallinckrodt PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Wells Fargo & Company restated an “outperform” rating and set a $83.50 target price on shares of Mallinckrodt PLC in a research report on Wednesday, June 21st. ValuEngine lowered shares of Mallinckrodt PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Canaccord Genuity lowered their target price on shares of Mallinckrodt PLC from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, May 9th. Finally, Deutsche Bank AG set a $68.00 target price on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $72.44.
Shares of Mallinckrodt PLC (MNK) traded down 1.23% during mid-day trading on Wednesday, hitting $37.72. The company had a trading volume of 4,111,961 shares. The company’s market capitalization is $3.75 billion. The company has a 50-day moving average price of $44.71 and a 200-day moving average price of $45.89. Mallinckrodt PLC has a 1-year low of $37.04 and a 1-year high of $85.83.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.12. The firm had revenue of $824.50 million during the quarter, compared to analysts’ expectations of $829.56 million. Mallinckrodt PLC had a net margin of 16.01% and a return on equity of 16.33%. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.03 earnings per share. On average, equities analysts anticipate that Mallinckrodt PLC will post $7.51 EPS for the current year.
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In other news, VP Coleman N. Lannum III acquired 1,350 shares of Mallinckrodt PLC stock in a transaction that occurred on Friday, June 2nd. The shares were acquired at an average price of $42.89 per share, with a total value of $57,901.50. Following the completion of the purchase, the vice president now owns 30,955 shares of the company’s stock, valued at approximately $1,327,659.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Hugh M. O’neill acquired 1,000 shares of Mallinckrodt PLC stock in a transaction that occurred on Thursday, June 8th. The shares were purchased at an average cost of $40.24 per share, for a total transaction of $40,240.00. The disclosure for this purchase can be found here. Insiders have purchased 5,818 shares of company stock worth $248,608 in the last three months. Insiders own 0.53% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Quadrature Capital Ltd purchased a new position in shares of Mallinckrodt PLC during the fourth quarter valued at about $408,000. Kentucky Retirement Systems purchased a new position in shares of Mallinckrodt PLC during the fourth quarter valued at about $383,000. Chevy Chase Trust Holdings Inc. increased its position in shares of Mallinckrodt PLC by 4.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 92,084 shares of the company’s stock valued at $4,104,000 after buying an additional 3,626 shares during the last quarter. Capstone Asset Management Co. increased its position in shares of Mallinckrodt PLC by 11.3% in the first quarter. Capstone Asset Management Co. now owns 28,318 shares of the company’s stock valued at $1,262,000 after buying an additional 2,870 shares during the last quarter. Finally, Fox Run Management L.L.C. increased its position in shares of Mallinckrodt PLC by 96.4% in the first quarter. Fox Run Management L.L.C. now owns 11,000 shares of the company’s stock valued at $490,000 after buying an additional 5,400 shares during the last quarter. 95.71% of the stock is currently owned by institutional investors and hedge funds.
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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