Mallinckrodt PLC (MNK) Stock Rating Reaffirmed by Stifel Nicolaus
Mallinckrodt PLC (NYSE:MNK)‘s stock had its “buy” rating reaffirmed by equities researchers at Stifel Nicolaus in a report released on Friday.
A number of other equities research analysts have also issued reports on MNK. BidaskClub raised shares of Mallinckrodt PLC from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Cantor Fitzgerald started coverage on shares of Mallinckrodt PLC in a report on Friday, June 16th. They set an “overweight” rating and a $52.00 target price for the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $70.00 target price on shares of Mallinckrodt PLC in a report on Tuesday, June 20th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $83.50 target price on shares of Mallinckrodt PLC in a report on Wednesday, June 21st. Finally, UBS AG reaffirmed a “buy” rating and set a $70.00 target price (down previously from $100.00) on shares of Mallinckrodt PLC in a report on Thursday, June 29th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. Mallinckrodt PLC currently has a consensus rating of “Buy” and a consensus price target of $60.04.
Mallinckrodt PLC (NYSE MNK) traded down 0.03% during trading on Friday, reaching $35.49. 681,153 shares of the company traded hands. The company’s market capitalization is $3.45 billion. Mallinckrodt PLC has a 52 week low of $33.61 and a 52 week high of $71.61. The firm has a 50-day moving average price of $36.62 and a 200-day moving average price of $41.85.
Mallinckrodt PLC (NYSE:MNK) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.73 by $0.12. The company had revenue of $824.50 million during the quarter, compared to analyst estimates of $829.56 million. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. The firm’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. Analysts forecast that Mallinckrodt PLC will post $7.40 earnings per share for the current fiscal year.
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In other Mallinckrodt PLC news, insider Meredith B. Fischer purchased 1,280 shares of Mallinckrodt PLC stock in a transaction dated Wednesday, August 30th. The shares were acquired at an average price of $39.63 per share, with a total value of $50,726.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.77% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Denali Advisors LLC acquired a new stake in shares of Mallinckrodt PLC during the second quarter worth about $112,000. Ameritas Investment Partners Inc. acquired a new stake in Mallinckrodt PLC in the first quarter valued at approximately $115,000. O Shaughnessy Asset Management LLC raised its holdings in Mallinckrodt PLC by 335.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,373 shares of the company’s stock valued at $150,000 after acquiring an additional 2,599 shares in the last quarter. Sterling Capital Management LLC acquired a new stake in Mallinckrodt PLC in the second quarter valued at approximately $204,000. Finally, Baker Avenue Asset Management LP acquired a new stake in Mallinckrodt PLC in the first quarter valued at approximately $223,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.
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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