Mallinckrodt PLC (NYSE:MNK) Given a $70.00 Price Target by Oppenheimer Holdings, Inc. Analysts
Several other equities analysts have also commented on MNK. Guggenheim set a $98.00 price target on shares of Mallinckrodt PLC and gave the company a buy rating in a research note on Saturday, April 1st. Jefferies Group LLC reiterated a buy rating and issued a $70.00 price target on shares of Mallinckrodt PLC in a research note on Friday, April 21st. Canaccord Genuity dropped their price target 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. BMO Capital Markets lowered their target price on shares of Mallinckrodt PLC from $79.00 to $69.00 and set an outperform rating on the stock in a research report on Wednesday, May 10th. Finally, UBS AG set a $70.00 target price on shares of Mallinckrodt PLC and gave the stock a buy rating in a research report on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. Mallinckrodt PLC currently has a consensus rating of Buy and a consensus target price of $74.09.
Shares of Mallinckrodt PLC (NYSE:MNK) opened at 45.80 on Friday. Mallinckrodt PLC has a 52 week low of $38.80 and a 52 week high of $85.83. The firm’s 50-day moving average is $44.65 and its 200 day moving average is $46.02. The firm’s market capitalization is $4.55 billion.
Mallinckrodt PLC (NYSE:MNK) last announced its quarterly earnings results on Monday, May 8th. The company reported $1.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.05. The company had revenue of $810.90 million for the quarter, compared to analyst estimates of $781.23 million. Mallinckrodt PLC had a net margin of 16.01% and a return on equity of 16.33%. The firm’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.01 earnings per share. On average, equities analysts forecast that Mallinckrodt PLC will post $7.55 earnings per share for the current year.
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In related news, VP Coleman N. Lannum III purchased 1,350 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was purchased at an average cost of $42.89 per share, with a total value of $57,901.50. Following the completion of the acquisition, the vice president now directly owns 30,955 shares in the company, valued at $1,327,659.95. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Hugh M. O’neill purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were bought at an average cost of $40.24 per share, with a total value of $40,240.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 5,818 shares of company stock valued at $248,608. Corporate insiders own 0.53% of the company’s stock.
Several large investors have recently modified their holdings of MNK. BlackRock Inc. increased its stake in Mallinckrodt PLC by 4,060.7% in the first quarter. BlackRock Inc. now owns 8,734,709 shares of the company’s stock worth $389,307,000 after buying an additional 8,524,773 shares during the period. Alliancebernstein L.P. increased its stake in Mallinckrodt PLC by 1,455.5% in the first quarter. Alliancebernstein L.P. now owns 2,900,796 shares of the company’s stock worth $129,288,000 after buying an additional 2,714,313 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new stake in Mallinckrodt PLC during the first quarter worth approximately $36,464,000. Bank of America Corp DE increased its stake in Mallinckrodt PLC by 638.6% in the first quarter. Bank of America Corp DE now owns 746,838 shares of the company’s stock worth $33,288,000 after buying an additional 645,718 shares during the period. Finally, Legal & General Group Plc acquired a new stake in Mallinckrodt PLC during the first quarter worth approximately $23,565,000. 95.76% of the stock is owned by hedge funds and other institutional investors.
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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