Mallinckrodt PLC (MNK) Given a $85.00 Price Target at Piper Jaffray Companies
Several other equities research analysts have also commented on the stock. Leerink Swann reissued an outperform rating on shares of Mallinckrodt PLC in a research note on Monday, March 20th. Wells Fargo & Company reissued an outperform rating and set a $83.50 price objective on shares of Mallinckrodt PLC in a research note on Wednesday, June 21st. Canaccord Genuity dropped their price objective on shares of Mallinckrodt PLC from $91.00 to $87.00 and set a buy rating on the stock in a research note on Tuesday, May 9th. ValuEngine lowered shares of Mallinckrodt PLC from a buy rating to a hold rating in a research note on Friday, June 2nd. Finally, Deutsche Bank AG set a $68.00 price objective on shares of Mallinckrodt PLC and gave the stock a buy rating in a research note on Wednesday, May 31st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $74.19.
Mallinckrodt PLC (NYSE MNK) opened at 44.87 on Friday. The stock’s 50 day moving average is $43.41 and its 200-day moving average is $46.36. Mallinckrodt PLC has a 52-week low of $38.80 and a 52-week high of $85.83. The company’s market cap is $4.46 billion.
Mallinckrodt PLC (NYSE:MNK) last announced its quarterly earnings results on Monday, May 8th. The company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.05. Mallinckrodt PLC had a net margin of 16.01% and a return on equity of 16.33%. The company had revenue of $810.90 million for the quarter, compared to analysts’ expectations of $781.23 million. During the same quarter in the previous year, the company earned $2.01 earnings per share. Mallinckrodt PLC’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts predict that Mallinckrodt PLC will post $7.55 EPS for the current fiscal year.
In related news, VP Hugh M. O’neill acquired 1,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were bought at an average price of $40.24 per share, for a total transaction of $40,240.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Coleman N. Lannum III acquired 1,350 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were bought at an average price of $42.89 per share, for a total transaction of $57,901.50. Following the transaction, the vice president now owns 30,955 shares of the company’s stock, valued at $1,327,659.95. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 5,818 shares of company stock worth $248,608. 0.53% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Profund Advisors LLC increased 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 period. Korea Investment CORP increased 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 period. Retirement Systems of Alabama increased 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 period. Rice Hall James & Associates LLC increased its position in shares of Mallinckrodt PLC by 2.9% in the first quarter. Rice Hall James & Associates LLC now owns 9,683 shares of the company’s stock worth $432,000 after buying an additional 277 shares during the period. 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 worth $490,000 after buying an additional 5,400 shares during the period. Institutional investors own 96.37% 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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