Mallinckrodt PLC’s (MNK) Buy Rating Reaffirmed at Stifel Nicolaus
Mallinckrodt PLC (NYSE:MNK)‘s stock had its “buy” rating reaffirmed by Stifel Nicolaus in a research note issued to investors on Wednesday. They currently have a $85.00 price objective on the stock. Stifel Nicolaus’ price target suggests a potential upside of 140.59% from the company’s previous close.
Other equities analysts have also recently issued reports about the company. UBS AG reaffirmed a “buy” rating and issued a $70.00 target price (down from $100.00) on shares of Mallinckrodt PLC in a report on Thursday, June 29th. They noted that the move was a valuation call. BidaskClub cut Mallinckrodt PLC from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Mizuho reaffirmed a “buy” rating and issued a $73.00 target price on shares of Mallinckrodt PLC in a report on Wednesday, May 31st. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $83.50 target price on shares of Mallinckrodt PLC in a report on Wednesday, June 21st. Finally, Oppenheimer Holdings, Inc. set a $70.00 target price on Mallinckrodt PLC and gave the stock a “buy” rating in a report on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $68.49.
Mallinckrodt PLC (NYSE MNK) traded up 0.48% during midday trading on Wednesday, hitting $35.33. The company’s stock had a trading volume of 1,910,832 shares. The company’s 50 day moving average price is $39.95 and its 200 day moving average price is $43.93. The firm’s market cap is $3.43 billion. Mallinckrodt PLC has a 12 month low of $34.51 and a 12 month high of $77.25.
Mallinckrodt PLC (NYSE:MNK) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $829.56 million. During the same period last year, the firm earned $2.03 EPS. Mallinckrodt PLC’s revenue for the quarter was down 4.9% compared to the same quarter last year. Analysts expect that Mallinckrodt PLC will post $7.44 EPS for the current year.
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In other news, insider Meredith B. Fischer bought 1,280 shares of Mallinckrodt PLC stock in a transaction dated Wednesday, August 30th. The shares were purchased at an average cost of $39.63 per share, with a total value of $50,726.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.77% of the company’s stock.
Several hedge funds have recently modified their holdings of MNK. Profund Advisors LLC increased its holdings 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 worth $285,000 after purchasing an additional 220 shares during the last quarter. ProShare Advisors LLC increased its holdings 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 worth $1,477,000 after purchasing an additional 1,259 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings 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 worth $995,000 after purchasing an additional 6,657 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Mallinckrodt PLC by 10.8% in the first quarter. Russell Investments Group Ltd. now owns 142,217 shares of the company’s stock worth $6,340,000 after purchasing an additional 13,873 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in shares of Mallinckrodt PLC by 324.6% in the first quarter. IFP Advisors Inc now owns 2,518 shares of the company’s stock worth $112,000 after purchasing an additional 1,925 shares during the last quarter. 97.48% of the stock is currently owned by hedge funds and other 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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