Mallinckrodt PLC (NYSE:MNK) received a $70.00 price objective from investment analysts at Oppenheimer Holdings, Inc. in a research report issued to clients and investors on Tuesday. The brokerage presently has a “buy” rating on the stock. Oppenheimer Holdings, Inc.’s price target suggests a potential upside of 83.29% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Mallinckrodt PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $83.50 price objective on shares of Mallinckrodt PLC in a research note on Wednesday, June 21st. ValuEngine lowered shares of Mallinckrodt PLC from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Canaccord Genuity decreased their price objective on shares of Mallinckrodt PLC from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, May 9th. Finally, Deutsche Bank AG set a $68.00 target price on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the company’s stock. Mallinckrodt PLC currently has a consensus rating of “Buy” and a consensus target price of $74.09.

Shares of Mallinckrodt PLC (MNK) traded down 6.69% on Tuesday, reaching $38.19. The company’s stock had a trading volume of 5,394,868 shares. The stock has a 50-day moving average of $44.71 and a 200 day moving average of $45.89. Mallinckrodt PLC has a 1-year low of $37.67 and a 1-year high of $85.83. The stock’s market capitalization is $3.79 billion.

Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. Mallinckrodt PLC had a net margin of 16.01% and a return on equity of 16.33%. The firm had revenue of $824.50 million during the quarter, compared to analyst estimates of $829.56 million. During the same quarter last year, the business posted $2.03 EPS. The company’s revenue was down 4.9% on a year-over-year basis. On average, equities analysts forecast that Mallinckrodt PLC will post $7.52 EPS for the current year.

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In other news, VP Coleman N. Lannum III bought 1,968 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The shares were purchased at an average price of $46.20 per share, for a total transaction of $90,921.60. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Steven J. Romano bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was purchased at an average price of $39.88 per share, for a total transaction of $39,880.00. The disclosure for this purchase can be found here. Insiders have bought a total of 5,818 shares of company stock worth $248,608 in the last 90 days. 0.53% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MNK. Janney Montgomery Scott LLC increased its position in shares of Mallinckrodt PLC by 42.5% in the first quarter. Janney Montgomery Scott LLC now owns 22,320 shares of the company’s stock valued at $995,000 after buying an additional 6,657 shares during the period. Glen Harbor Capital Management LLC increased its position in shares of Mallinckrodt PLC by 7.4% in the first quarter. Glen Harbor Capital Management LLC now owns 121,006 shares of the company’s stock valued at $5,393,000 after buying an additional 8,296 shares during the period. Acadian Asset Management LLC increased its position in shares of Mallinckrodt PLC by 48.9% in the first quarter. Acadian Asset Management LLC now owns 723,612 shares of the company’s stock valued at $32,252,000 after buying an additional 237,728 shares during the period. ProShare Advisors LLC increased its position in shares of Mallinckrodt PLC by 3.9% in the first quarter. ProShare Advisors LLC now owns 33,133 shares of the company’s stock valued at $1,477,000 after buying an additional 1,259 shares during the period. Finally, Profund Advisors LLC increased its position in shares of Mallinckrodt PLC by 3.6% in the first quarter. Profund Advisors LLC now owns 6,399 shares of the company’s stock valued at $285,000 after buying an additional 220 shares during the period. Hedge funds and other institutional investors own 95.71% 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.

Analyst Recommendations for Mallinckrodt PLC (NYSE:MNK)

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