Mallinckrodt PLC (MNK) Rating Reiterated by Piper Jaffray Companies
Mallinckrodt PLC (NYSE:MNK)‘s stock had its “buy” rating reaffirmed by equities research analysts at Piper Jaffray Companies in a research report issued on Thursday. They presently have a $67.00 price target on the stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 87.10% from the stock’s current price.
MNK has been the topic of several other research reports. Canaccord Genuity set a $87.00 target price on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Monday, July 17th. ValuEngine raised shares of Mallinckrodt PLC from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Cantor Fitzgerald assumed coverage on shares of Mallinckrodt PLC in a research report on Friday, June 16th. They set an “overweight” rating and a $52.00 target price on the stock. Morgan Stanley downgraded shares of Mallinckrodt PLC from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $65.00 to $40.00 in a research report on Wednesday, September 6th. Finally, Mizuho downgraded shares of Mallinckrodt PLC from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $70.00 to $40.00 in a research report on Wednesday, September 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company. Mallinckrodt PLC presently has an average rating of “Buy” and a consensus price target of $60.04.
Mallinckrodt PLC (MNK) opened at 35.81 on Thursday. The company’s market cap is $3.48 billion. The company’s 50-day moving average is $36.60 and its 200-day moving average is $41.78. Mallinckrodt PLC has a 12 month low of $33.61 and a 12 month high of $71.61.
Mallinckrodt PLC (NYSE:MNK) last released its earnings results on Tuesday, August 8th. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.12. The company had revenue of $824.50 million for the quarter, compared to the consensus estimate of $829.56 million. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. Mallinckrodt PLC’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.03 EPS. On average, equities research analysts expect that Mallinckrodt PLC will post $7.40 EPS for the current fiscal year.
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In other news, insider Meredith B. Fischer bought 1,280 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was purchased at an average cost of $39.63 per share, for a total transaction of $50,726.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.77% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of MNK. American Century Companies Inc. lifted its stake in shares of Mallinckrodt PLC by 40.6% in the 1st quarter. American Century Companies Inc. now owns 11,200 shares of the company’s stock valued at $499,000 after purchasing an additional 3,233 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Mallinckrodt PLC by 28.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,772 shares of the company’s stock valued at $346,000 after purchasing an additional 1,704 shares during the period. Ameritas Investment Partners Inc. acquired a new position in shares of Mallinckrodt PLC in the 1st quarter valued at $115,000. Stifel Financial Corp lifted its stake in shares of Mallinckrodt PLC by 16.0% in the 1st quarter. Stifel Financial Corp now owns 31,040 shares of the company’s stock valued at $1,369,000 after purchasing an additional 4,286 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of Mallinckrodt PLC by 335.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,373 shares of the company’s stock valued at $150,000 after purchasing an additional 2,599 shares during the period. Hedge funds and other institutional investors own 97.40% of the company’s stock.
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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