Mallinckrodt PLC (MNK) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Mallinckrodt PLC (NYSE:MNK) have been given an average recommendation of “Buy” by the twenty-two research firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and fourteen have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $64.40.
A number of brokerages recently weighed in on MNK. Deutsche Bank AG set a $56.00 price objective on shares of Mallinckrodt PLC and gave the company a “buy” rating in a research report on Wednesday, August 9th. Piper Jaffray Companies set a $85.00 target price on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Monday, August 7th. Oppenheimer Holdings, Inc. set a $70.00 target price on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Friday, July 28th. Jefferies Group LLC restated a “buy” rating and issued a $70.00 target price on shares of Mallinckrodt PLC in a research report on Thursday, August 3rd. Finally, Raymond James Financial, Inc. decreased their target price on shares of Mallinckrodt PLC from $65.00 to $58.00 and set an “outperform” rating for the company in a research report on Wednesday, August 9th.
In related news, insider Meredith B. Fischer acquired 1,280 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were purchased at an average price of $39.63 per share, for a total transaction of $50,726.40. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.77% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Denali Advisors LLC acquired a new position in shares of Mallinckrodt PLC during the 2nd quarter worth $112,000. Ameritas Investment Partners Inc. bought a new stake in shares of Mallinckrodt PLC during the 1st quarter worth $115,000. Daiwa Securities Group Inc. boosted its holdings in shares of Mallinckrodt PLC by 18.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the company’s stock worth $143,000 after buying an additional 500 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in shares of Mallinckrodt PLC by 335.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,373 shares of the company’s stock worth $150,000 after buying an additional 2,599 shares during the period. Finally, Sterling Capital Management LLC bought a new stake in shares of Mallinckrodt PLC during the 2nd quarter worth $204,000. Institutional investors own 97.48% of the company’s stock.
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Mallinckrodt PLC (NYSE:MNK) opened at 34.27 on Friday. The stock’s market cap is $3.33 billion. Mallinckrodt PLC has a one year low of $34.17 and a one year high of $77.25. The firm’s 50 day moving average price is $38.33 and its 200 day moving average price is $43.27.
Mallinckrodt PLC (NYSE:MNK) last released its earnings results on Tuesday, August 8th. The company reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.12. The company had revenue of $824.50 million during the quarter, compared to the consensus estimate of $829.56 million. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. The company’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.03 EPS. Equities analysts forecast that Mallinckrodt PLC will post $7.43 earnings per share for the current year.
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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