Mallinckrodt PLC (MNK) Given a $52.00 Price Target by Cantor Fitzgerald Analysts
Mallinckrodt PLC (NYSE:MNK) has been given a $52.00 target price by analysts at Cantor Fitzgerald in a report released on Monday. The brokerage currently has a “buy” rating on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 38.33% from the stock’s previous close.
MNK has been the subject of a number of other research reports. Deutsche Bank AG set a $56.00 price target on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Piper Jaffray Companies set a $85.00 price target on Mallinckrodt PLC and gave the stock a “buy” rating in a research note on Monday, August 7th. Jefferies Group LLC reissued a “buy” rating and set a $70.00 price target on shares of Mallinckrodt PLC in a report on Thursday, August 3rd. Oppenheimer Holdings, Inc. set a $70.00 price target on Mallinckrodt PLC and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Raymond James Financial, Inc. cut their price objective on shares of Mallinckrodt PLC from $65.00 to $58.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $62.59.
Shares of Mallinckrodt PLC (NYSE:MNK) opened at 37.59 on Monday. The firm has a 50-day moving average price of $36.58 and a 200-day moving average price of $41.93. Mallinckrodt PLC has a 12-month low of $33.61 and a 12-month high of $71.61. The firm’s market cap is $3.65 billion.
Mallinckrodt PLC (NYSE:MNK) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. Mallinckrodt PLC had a return on equity of 15.28% and a net margin of 12.64%. The business had revenue of $824.50 million during the quarter, compared to analyst estimates of $829.56 million. During the same period in the prior year, the company posted $2.03 EPS. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, equities research analysts expect that Mallinckrodt PLC will post $7.41 earnings per share for the current fiscal year.
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In related news, insider Meredith B. Fischer bought 1,280 shares of Mallinckrodt PLC stock in a transaction dated Wednesday, August 30th. The stock was acquired at an average cost of $39.63 per share, with a total value of $50,726.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.53% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of MNK. Vanguard Group Inc. raised its holdings in Mallinckrodt PLC by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 10,247,891 shares of the company’s stock worth $456,748,000 after buying an additional 103,924 shares during the period. BlackRock Inc. lifted its stake in Mallinckrodt PLC by 4,060.7% during the first quarter. BlackRock Inc. now owns 8,734,709 shares of the company’s stock valued at $389,307,000 after buying an additional 8,524,773 shares in the last quarter. State Street Corp lifted its stake in Mallinckrodt PLC by 5.1% during the first quarter. State Street Corp now owns 5,197,656 shares of the company’s stock valued at $231,654,000 after buying an additional 250,838 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Mallinckrodt PLC by 15.4% during the second quarter. Alliancebernstein L.P. now owns 3,348,807 shares of the company’s stock valued at $150,060,000 after buying an additional 448,011 shares in the last quarter. Finally, HealthCor Management L.P. acquired a new position in shares of Mallinckrodt PLC in the second quarter worth about $107,649,000. 97.40% of the stock is currently owned by hedge funds and other 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.
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