Mallinckrodt PLC (MNK) Given Buy Rating at Morgan Stanley
Mallinckrodt PLC (NYSE:MNK)‘s stock had its “buy” rating reaffirmed by stock analysts at Morgan Stanley in a note issued to investors on Wednesday. They presently have a $82.00 target price on the stock. Morgan Stanley’s price target would indicate a potential upside of 10.66% from the stock’s previous close.
A number of other research analysts have also weighed in on MNK. Vetr lowered Mallinckrodt PLC from a “buy” rating to a “hold” rating and set a $83.20 price objective on the stock. in a report on Wednesday, August 17th. Mizuho raised their target price on Mallinckrodt PLC from $83.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Zacks Investment Research lowered Mallinckrodt PLC from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. JPMorgan Chase & Co. set a $85.00 price objective on Mallinckrodt PLC and gave the company a “hold” rating in a report on Wednesday, August 3rd. Finally, Guggenheim reissued a “buy” rating and issued a $98.00 price objective on shares of Mallinckrodt PLC in a report on Wednesday, August 3rd. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $94.66.
Shares of Mallinckrodt PLC (NYSE:MNK) traded down 0.641% during trading on Wednesday, hitting $73.625. 276,738 shares of the company were exchanged. The company has a 50 day moving average of $77.24 and a 200-day moving average of $65.66. The stock has a market capitalization of $7.93 billion, a PE ratio of 13.884 and a beta of 1.52. Mallinckrodt PLC has a 1-year low of $50.90 and a 1-year high of $85.83.
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Mallinckrodt PLC (NYSE:MNK) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.20. The firm earned $970.60 million during the quarter, compared to analysts’ expectations of $920.35 million. Mallinckrodt PLC had a return on equity of 17.78% and a net margin of 16.39%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $2.05 EPS. On average, analysts forecast that Mallinckrodt PLC will post $7.68 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in MNK. Laurel Wealth Advisors Inc. boosted its stake in Mallinckrodt PLC by 0.5% in the second quarter. Laurel Wealth Advisors Inc. now owns 3,427 shares of the company’s stock worth $208,000 after buying an additional 16 shares in the last quarter. Turner Investments L.P. boosted its stake in Mallinckrodt PLC by 0.5% in the second quarter. Turner Investments L.P. now owns 19,420 shares of the company’s stock worth $1,180,000 after buying an additional 100 shares in the last quarter. Investors Capital Advisory Services boosted its stake in Mallinckrodt PLC by 1.2% in the second quarter. Investors Capital Advisory Services now owns 8,710 shares of the company’s stock worth $529,000 after buying an additional 107 shares in the last quarter. LS Investment Advisors LLC boosted its stake in Mallinckrodt PLC by 2.4% in the second quarter. LS Investment Advisors LLC now owns 5,408 shares of the company’s stock worth $329,000 after buying an additional 126 shares in the last quarter. Finally, Aviva PLC boosted its stake in Mallinckrodt PLC by 0.5% in the first quarter. Aviva PLC now owns 63,433 shares of the company’s stock worth $3,887,000 after buying an additional 322 shares in the last quarter. Institutional investors and hedge funds own 94.74% of the company’s stock.
Mallinckrodt PLC Company Profile
Mallinckrodt public limited company (Mallinckrodt) is engaged in the specialty pharmaceuticals and nuclear imaging business. The Company develops, manufactures, markets and distributes specialty pharmaceutical and biopharmaceutical products, and nuclear imaging agents. The Company’s segments include Specialty Brands, Specialty Generics and Nuclear Imaging.
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