Mallinckrodt PLC (MNK) Earns Buy Rating from Stifel Nicolaus
Mallinckrodt PLC (NYSE:MNK)‘s stock had its “buy” rating reiterated by Stifel Nicolaus in a report released on Friday.
MNK has been the subject of several other research reports. UBS AG reissued a “buy” rating and issued a $70.00 price objective on shares of Mallinckrodt PLC in a research note on Wednesday, September 6th. BidaskClub raised shares of Mallinckrodt PLC from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Deutsche Bank AG reissued a “buy” rating and issued a $45.00 price objective (down previously from $56.00) on shares of Mallinckrodt PLC in a research note on Thursday, September 14th. Zacks Investment Research downgraded shares of Mallinckrodt PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $70.00 price objective on shares of Mallinckrodt PLC in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $60.04.
Shares of Mallinckrodt PLC (NYSE:MNK) traded up 0.87% on Friday, reaching $35.81. The company had a trading volume of 1,597,529 shares. The firm’s market capitalization is $3.48 billion. Mallinckrodt PLC has a 52 week low of $33.61 and a 52 week high of $71.61. The stock’s 50 day moving average is $36.62 and its 200 day moving average is $41.85.
Mallinckrodt PLC (NYSE:MNK) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $1.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.12. The business 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 firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.03 earnings per share. On average, equities analysts anticipate that Mallinckrodt PLC will post $7.40 EPS for the current year.
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In other Mallinckrodt PLC news, insider Meredith B. Fischer acquired 1,280 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were bought at an average cost of $39.63 per share, with a total value of $50,726.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.77% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Denali Advisors LLC purchased a new position in Mallinckrodt PLC during the second quarter valued at approximately $112,000. Ameritas Investment Partners Inc. purchased a new position in Mallinckrodt PLC in the first quarter worth $115,000. O Shaughnessy Asset Management LLC grew its holdings in Mallinckrodt PLC by 335.8% in the first 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 purchased a new position in Mallinckrodt PLC in the second quarter worth $204,000. Finally, Baker Avenue Asset Management LP purchased a new position in Mallinckrodt PLC in the first quarter worth $223,000. 97.40% of the stock is currently owned by 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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