Mallinckrodt PLC (MNK) Rating Reiterated by Mizuho
Mizuho reissued their buy rating on shares of Mallinckrodt PLC (NYSE:MNK) in a report issued on Wednesday morning. They currently have a $70.00 price objective on the stock, down from their prior price objective of $73.00.
MNK has been the subject of a number of other research reports. Zacks Investment Research downgraded Mallinckrodt PLC from a hold rating to a sell rating in a research report on Tuesday, July 11th. Jefferies Group LLC reiterated a buy rating and issued a $70.00 price objective on shares of Mallinckrodt PLC in a research report on Thursday, August 3rd. Canaccord Genuity set a $87.00 price objective on Mallinckrodt PLC and gave the stock a buy rating in a research report on Monday, July 17th. UBS AG set a $70.00 price objective on Mallinckrodt PLC and gave the stock a buy rating in a research report on Wednesday. Finally, Deutsche Bank AG set a $68.00 price objective on Mallinckrodt PLC and gave the stock a buy rating in a research report on Wednesday, May 31st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $72.44.
Shares of Mallinckrodt PLC (MNK) traded down 1.40% during midday trading on Wednesday, hitting $36.52. The stock had a trading volume of 2,139,873 shares. The firm has a 50-day moving average of $43.88 and a 200 day moving average of $45.56. Mallinckrodt PLC has a 12-month low of $36.02 and a 12-month high of $85.83. The firm’s market cap is $3.55 billion.
Mallinckrodt PLC (NYSE:MNK) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $1.85 EPS for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.12. Mallinckrodt PLC had a return on equity of 15.28% and a net margin of 12.64%. The company had revenue of $824.50 million during the quarter, compared to the consensus estimate of $829.56 million. During the same quarter last year, the company earned $2.03 EPS. The company’s quarterly revenue was down 4.9% on a year-over-year basis. On average, analysts expect that Mallinckrodt PLC will post $7.48 earnings per share for the current year.
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In other Mallinckrodt PLC news, VP Coleman N. Lannum III purchased 1,350 shares of the company’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 acquisition, the vice president now directly owns 30,955 shares of the company’s stock, valued at approximately $1,327,659.95. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Steven J. Romano purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The shares were acquired at an average cost of $39.88 per share, with a total value of $39,880.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 3,850 shares of company stock valued at $157,687 over the last ninety days. Insiders own 0.77% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Denali Advisors LLC purchased a new stake in Mallinckrodt PLC during the second quarter valued at approximately $112,000. IFP Advisors Inc boosted its stake in Mallinckrodt PLC by 324.6% in the first quarter. IFP Advisors Inc now owns 2,518 shares of the company’s stock valued at $112,000 after buying an additional 1,925 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in Mallinckrodt PLC during the first quarter valued at approximately $115,000. Daiwa Securities Group Inc. boosted its stake in 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 buying an additional 500 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its stake 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 buying an additional 2,599 shares during the period. 95.71% 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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