Mallinckrodt PLC’s (MNK) Buy Rating Reiterated at Piper Jaffray Companies
Piper Jaffray Companies restated their buy rating on shares of Mallinckrodt PLC (NYSE:MNK) in a report released on Friday morning. Piper Jaffray Companies currently has a $67.00 target price on the stock.
Other research analysts have also recently issued research reports about the stock. Canaccord Genuity set a $87.00 price target on shares of Mallinckrodt PLC and gave the company a buy rating in a report on Monday, July 17th. UBS AG reiterated a buy rating and issued a $70.00 price target (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. Morgan Stanley set a $65.00 price target on shares of Mallinckrodt PLC and gave the company a buy rating in a report on Wednesday, May 31st. Deutsche Bank AG set a $68.00 price target on shares of Mallinckrodt PLC and gave the company a buy rating in a report on Wednesday, May 31st. Finally, Mizuho reiterated a buy rating and issued a $73.00 price target on shares of Mallinckrodt PLC in a report on Wednesday, May 31st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. Mallinckrodt PLC presently has a consensus rating of Buy and an average target price of $64.15.
Shares of Mallinckrodt PLC (MNK) opened at 34.27 on Friday. Mallinckrodt PLC has a 52-week low of $34.17 and a 52-week high of $77.25. The firm has a 50-day moving average of $38.33 and a 200-day moving average of $43.27. The stock’s market cap is $3.33 billion.
Mallinckrodt PLC (NYSE:MNK) last released 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 net margin of 12.64% and a return on equity of 15.28%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.03 earnings per share. On average, equities analysts expect that Mallinckrodt PLC will post $7.43 EPS for the current fiscal year.
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In other Mallinckrodt PLC news, insider Meredith B. Fischer purchased 1,280 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were acquired at an average cost of $39.63 per share, for a total transaction of $50,726.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in MNK. Denali Advisors LLC acquired a new position in shares of Mallinckrodt PLC in the second quarter valued at about $112,000. Ameritas Investment Partners Inc. acquired a new position in shares of Mallinckrodt PLC in the first quarter valued at about $115,000. Daiwa Securities Group Inc. grew its stake in shares of Mallinckrodt PLC by 18.5% in the first quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the company’s stock valued at $143,000 after acquiring an additional 500 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of 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. Finally, Sterling Capital Management LLC acquired a new position in shares of Mallinckrodt PLC in the second quarter valued at about $204,000. Institutional investors and hedge funds own 97.40% of the company’s stock.
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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