Mallinckrodt PLC (MNK) Given Average Recommendation of “Buy” by Analysts
Mallinckrodt PLC (NYSE:MNK) has earned a consensus rating of “Buy” from the twenty-two ratings firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $58.58.
A number of equities research analysts have recently commented on MNK shares. Zacks Investment Research cut Mallinckrodt PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Canaccord Genuity set a $87.00 target price on Mallinckrodt PLC and gave the stock a “buy” rating in a research note on Monday, July 17th. Piper Jaffray Companies set a $85.00 price objective on Mallinckrodt PLC and gave the company a “buy” rating in a research note on Sunday, July 16th. Oppenheimer Holdings, Inc. set a $70.00 price objective on Mallinckrodt PLC and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, BMO Capital Markets restated a “buy” rating and issued a $69.00 price objective on shares of Mallinckrodt PLC in a research note on Friday, July 28th.
Shares of Mallinckrodt PLC (MNK) opened at $30.88 on Monday. The company has a market capitalization of $3,067.82, a price-to-earnings ratio of 4.13, a PEG ratio of 0.43 and a beta of 1.46. Mallinckrodt PLC has a 52 week low of $30.08 and a 52 week high of $68.12. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.81 and a current ratio of 1.06.
Mallinckrodt PLC (NYSE:MNK) last released its earnings results on Tuesday, August 8th. The company reported $1.85 EPS for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.12. The company had revenue of $824.50 million for 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 revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.03 EPS. research analysts predict that Mallinckrodt PLC will post 7.38 earnings per share for the current fiscal year.
In other Mallinckrodt PLC news, insider Meredith B. Fischer acquired 1,280 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was bought at an average price of $39.63 per share, with a total value of $50,726.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.53% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of MNK. Denali Advisors LLC purchased a new position in shares of Mallinckrodt PLC during the second quarter worth about $112,000. Sterling Capital Management LLC purchased a new position in shares of Mallinckrodt PLC during the second quarter worth about $204,000. Advisor Partners LLC purchased a new position in shares of Mallinckrodt PLC during the second quarter worth about $242,000. Municipal Employees Retirement System of Michigan grew its holdings in shares of Mallinckrodt PLC by 24.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 5,640 shares of the company’s stock worth $253,000 after purchasing an additional 1,110 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Mallinckrodt PLC during the second quarter worth about $260,000. 97.96% of the stock is owned by institutional investors.
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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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