Mallinckrodt PLC (MNK) Earns Buy Rating from Jefferies Group LLC
Mallinckrodt PLC (NYSE:MNK)‘s stock had its “buy” rating reaffirmed by equities research analysts at Jefferies Group LLC in a research report issued to clients and investors on Friday. They presently have a $60.00 target price on the stock. Jefferies Group LLC’s price objective points to a potential upside of 69.01% from the company’s previous close.
Several other equities research analysts have also recently commented on MNK. BidaskClub raised shares of Mallinckrodt PLC from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Cantor Fitzgerald started coverage on shares of Mallinckrodt PLC in a research report on Friday, June 16th. They issued an “overweight” rating and a $52.00 price objective on the stock. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $83.50 price objective on shares of Mallinckrodt PLC in a research report on Wednesday, June 21st. UBS AG reaffirmed a “buy” rating and issued a $70.00 price objective (down from $100.00) on shares of Mallinckrodt PLC in a research report on Thursday, June 29th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of Mallinckrodt PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. Mallinckrodt PLC has an average rating of “Buy” and a consensus target price of $60.04.
Mallinckrodt PLC (MNK) opened at 35.50 on Friday. Mallinckrodt PLC has a 1-year low of $33.61 and a 1-year high of $71.61. The stock has a 50 day moving average of $36.62 and a 200-day moving average of $41.85. The firm’s market capitalization is $3.45 billion.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.73 by $0.12. The business had revenue of $824.50 million for the quarter, compared to analysts’ expectations of $829.56 million. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. The firm’s revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.03 EPS. On average, equities research analysts anticipate that Mallinckrodt PLC will post $7.41 earnings per share for the current year.
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In other Mallinckrodt PLC news, insider Meredith B. Fischer purchased 1,280 shares of the stock in a transaction on Wednesday, August 30th. The shares were purchased at an average cost of $39.63 per share, for a total transaction of $50,726.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.77% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in MNK. Denali Advisors LLC acquired a new position in shares of Mallinckrodt PLC during the 2nd quarter worth about $112,000. Ameritas Investment Partners Inc. acquired a new position in shares of Mallinckrodt PLC during the 1st quarter worth about $115,000. O Shaughnessy Asset Management LLC increased its stake 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 purchasing an additional 2,599 shares during the last quarter. Sterling Capital Management LLC acquired a new position in shares of Mallinckrodt PLC during the 2nd quarter worth about $204,000. Finally, Baker Avenue Asset Management LP acquired a new position in shares of Mallinckrodt PLC during the 1st quarter worth about $223,000. Institutional investors own 97.40% 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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