Mallinckrodt PLC (MNK) PT Lowered to $45.00 at Citigroup Inc.
Mallinckrodt PLC (NYSE:MNK) had its price target reduced by investment analysts at Citigroup Inc. to $45.00 in a note issued to investors on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the stock. Citigroup Inc.’s target price indicates a potential upside of 26.26% from the company’s current price.
Several other brokerages have also issued reports on MNK. Oppenheimer Holdings, Inc. set a $70.00 target price on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research raised Mallinckrodt PLC from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. BMO Capital Markets reissued a “buy” rating and issued a $69.00 target price on shares of Mallinckrodt PLC in a research report on Friday, July 28th. Piper Jaffray Companies set a $85.00 target price on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Sunday, July 16th. Finally, Canaccord Genuity set a $87.00 target price on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $65.68.
Mallinckrodt PLC (MNK) opened at 35.64 on Thursday. Mallinckrodt PLC has a 12 month low of $34.51 and a 12 month high of $77.25. The stock’s market cap is $3.46 billion. The company’s 50 day moving average price is $39.34 and its 200 day moving average price is $43.53.
Mallinckrodt PLC (NYSE:MNK) last announced its earnings results on Tuesday, August 8th. The company reported $1.85 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $824.50 million during the quarter, compared to analyst estimates of $829.56 million. During the same quarter in the prior year, the company earned $2.03 EPS. The business’s revenue was down 4.9% compared to the same quarter last year. Equities analysts forecast that Mallinckrodt PLC will post $7.44 EPS for the current fiscal year.
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In other Mallinckrodt PLC news, insider Meredith B. Fischer bought 1,280 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were acquired at an average cost of $39.63 per share, for a total transaction of $50,726.40. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.77% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of MNK. Denali Advisors LLC purchased a new stake in Mallinckrodt PLC during the 2nd quarter valued at $112,000. Ameritas Investment Partners Inc. purchased a new stake in Mallinckrodt PLC during the 1st quarter valued at $115,000. Daiwa Securities Group Inc. boosted its stake in Mallinckrodt PLC by 18.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the company’s stock valued at $143,000 after purchasing an additional 500 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Mallinckrodt PLC by 335.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,373 shares of the company’s stock valued at $150,000 after purchasing an additional 2,599 shares during the last quarter. Finally, Sterling Capital Management LLC purchased a new stake in Mallinckrodt PLC during the 2nd quarter valued at $204,000. Institutional investors and hedge funds own 97.48% 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.
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