Piper Jaffray Companies Analysts Give Mallinckrodt PLC (NYSE:MNK) a $85.00 Price Target
Mallinckrodt PLC (NYSE:MNK) received a $85.00 target price from equities researchers at Piper Jaffray Companies in a report issued on Sunday. The brokerage presently has a “buy” rating on the stock. Piper Jaffray Companies’ price target indicates a potential upside of 86.61% from the stock’s previous close.
MNK has been the topic of several other reports. Canaccord Genuity set a $87.00 target price on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a report on Monday. Cantor Fitzgerald began coverage on shares of Mallinckrodt PLC in a research report on Friday, June 16th. They set an “overweight” rating and a $52.00 price target for the company. Wells Fargo & Company reissued an “outperform” rating and set a $83.50 price target on shares of Mallinckrodt PLC in a research report on Wednesday, June 21st. BMO Capital Markets decreased their price target on shares of Mallinckrodt PLC from $79.00 to $69.00 and set an “outperform” rating for the company in a research report on Wednesday, May 10th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $70.00 price target on shares of Mallinckrodt PLC in a research report on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $74.19.
Shares of Mallinckrodt PLC (NYSE:MNK) traded up 2.34% on Friday, reaching $45.55. 1,492,801 shares of the company were exchanged. The company’s 50-day moving average is $42.92 and its 200-day moving average is $47.15. The company’s market capitalization is $4.53 billion. Mallinckrodt PLC has a 52 week low of $38.80 and a 52 week high of $85.83.
Mallinckrodt PLC (NYSE:MNK) last issued its earnings results on Monday, May 8th. The company reported $1.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.05. Mallinckrodt PLC had a net margin of 16.01% and a return on equity of 16.33%. The company had revenue of $810.90 million for the quarter, compared to analysts’ expectations of $781.23 million. During the same period in the prior year, the business earned $2.01 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts expect that Mallinckrodt PLC will post $7.55 EPS for the current fiscal year.
In other Mallinckrodt PLC news, VP Coleman N. Lannum III purchased 1,350 shares of Mallinckrodt PLC stock in a transaction on Friday, June 2nd. The stock was bought at an average cost of $42.89 per share, with a total value of $57,901.50. Following the transaction, the vice president now owns 30,955 shares of the company’s stock, valued at approximately $1,327,659.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Steven J. Romano purchased 1,000 shares of Mallinckrodt PLC stock in a transaction 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 acquired a total of 5,818 shares of company stock valued at $248,608 over the last three months. 0.53% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund raised its position in Mallinckrodt PLC by 17.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 47,777 shares of the company’s stock worth $2,141,000 after buying an additional 7,100 shares in the last quarter. Denali Advisors LLC acquired a new position in Mallinckrodt PLC during the second quarter worth about $112,000. Mn Services Vermogensbeheer B.V. raised its position in Mallinckrodt PLC by 502.8% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 16,849 shares of the company’s stock worth $755,000 after buying an additional 14,054 shares in the last quarter. Meeder Asset Management Inc. raised its position in Mallinckrodt PLC by 1.3% in the second quarter. Meeder Asset Management Inc. now owns 15,900 shares of the company’s stock worth $712,000 after buying an additional 209 shares in the last quarter. Finally, Creative Planning raised its position in Mallinckrodt PLC by 44.7% in the second quarter. Creative Planning now owns 6,938 shares of the company’s stock worth $311,000 after buying an additional 2,144 shares in the last quarter. 96.37% of the stock is owned by institutional investors.
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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