Mallinckrodt PLC (MNK) Rating Reiterated by Mizuho
MNK has been the subject of several other reports. UBS AG reiterated a buy rating and issued a $70.00 price target on shares of Mallinckrodt PLC in a research report on Wednesday, September 6th. BidaskClub upgraded Mallinckrodt PLC from a strong sell rating to a sell rating in a research report on Friday, August 25th. Deutsche Bank AG reiterated a buy rating and issued a $45.00 price target (down from $56.00) on shares of Mallinckrodt PLC in a research report on Thursday, September 14th. Zacks Investment Research cut Mallinckrodt PLC from a hold rating to a sell rating in a research report on Tuesday, July 11th. Finally, Cantor Fitzgerald reiterated a buy rating and issued a $52.00 price target on shares of Mallinckrodt PLC in a research report on Tuesday, September 5th. Three analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $60.04.
Shares of Mallinckrodt PLC (MNK) opened at 32.16 on Friday. Mallinckrodt PLC has a 12-month low of $31.78 and a 12-month high of $68.43. The stock’s 50 day moving average price is $35.74 and its 200 day moving average price is $41.18. The firm’s market capitalization is $3.13 billion.
Mallinckrodt PLC (NYSE:MNK) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.12. The company had revenue of $824.50 million during 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 firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.03 earnings per share. Equities research analysts expect that Mallinckrodt PLC will post $7.39 earnings per share for the current year.
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In other news, insider Meredith B. Fischer purchased 1,280 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was purchased at an average price of $39.63 per share, with a total value of $50,726.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.53% of the company’s stock.
A number of hedge funds have recently modified their holdings of MNK. Denali Advisors LLC bought a new stake in Mallinckrodt PLC during the second quarter worth about $112,000. Ameritas Investment Partners Inc. bought a new stake in Mallinckrodt PLC during the first quarter worth about $115,000. Sterling Capital Management LLC bought a new stake in Mallinckrodt PLC during the second quarter worth about $204,000. Baker Avenue Asset Management LP bought a new stake in Mallinckrodt PLC during the first quarter worth about $223,000. Finally, Advisor Partners LLC bought a new stake in Mallinckrodt PLC during the second quarter worth about $242,000. 97.36% of the stock is 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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