Stifel Nicolaus Trims Mallinckrodt PLC (MNK) Target Price to $50.00
Mallinckrodt PLC (NYSE:MNK) had its target price trimmed by Stifel Nicolaus from $70.00 to $50.00 in a research report report published on Wednesday morning. The firm currently has a buy rating on the stock.
Other equities analysts have also issued reports about the company. Oppenheimer Holdings, Inc. dropped their target price on Mallinckrodt PLC from $70.00 to $48.00 in a research note on Tuesday, September 19th. Piper Jaffray Companies set a $85.00 target price on Mallinckrodt PLC and gave the company a buy rating in a research note on Sunday, July 16th. Canaccord Genuity set a $87.00 target price on Mallinckrodt PLC and gave the company a buy rating in a research note on Monday, July 17th. Deutsche Bank AG set a $56.00 target price on Mallinckrodt PLC and gave the company a buy rating in a research note on Wednesday, August 9th. Finally, UBS AG set a $70.00 price target on Mallinckrodt PLC and gave the stock a buy rating in a research note on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $50.44.
Mallinckrodt PLC (MNK) traded down $0.44 during trading on Wednesday, reaching $21.76. The company had a trading volume of 5,866,300 shares, compared to its average volume of 2,489,536. The firm has a market capitalization of $2,109.11, a price-to-earnings ratio of 3.00, a P/E/G ratio of 0.33 and a beta of 1.46. Mallinckrodt PLC has a 52-week low of $19.00 and a 52-week high of $68.12. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.38 and a quick ratio of 0.81.
Mallinckrodt PLC (NYSE:MNK) last released its earnings results on Tuesday, November 7th. The company reported $1.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.80 by $0.17. The firm had revenue of $793.90 million during the quarter, compared to analyst estimates of $808.93 million. Mallinckrodt PLC had a return on equity of 14.79% and a net margin of 11.43%. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.04 earnings per share. equities research analysts forecast that Mallinckrodt PLC will post 7.26 EPS 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 that occurred 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.77% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Alliancebernstein L.P. lifted its holdings in Mallinckrodt PLC by 15.4% during the 2nd quarter. Alliancebernstein L.P. now owns 3,348,807 shares of the company’s stock worth $150,060,000 after buying an additional 448,011 shares during the last quarter. HealthCor Management L.P. bought a new position in Mallinckrodt PLC during the 2nd quarter worth approximately $107,649,000. Dimensional Fund Advisors LP lifted its holdings in Mallinckrodt PLC by 33.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,161,814 shares of the company’s stock worth $96,868,000 after buying an additional 547,249 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Mallinckrodt PLC by 2.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,987,196 shares of the company’s stock worth $74,260,000 after buying an additional 49,752 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Mallinckrodt PLC by 6,828.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,396,780 shares of the company’s stock worth $62,590,000 after buying an additional 1,376,619 shares during the last quarter. 97.96% of the stock is currently owned by 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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