Piper Jaffray Companies set a $85.00 price objective on Mallinckrodt PLC (NYSE:MNK) in a research report report published on Sunday. The brokerage currently has a buy rating on the stock.
Other research analysts also recently issued research reports about the company. UBS AG set a $70.00 price objective on Mallinckrodt PLC and gave the company a buy rating in a research note on Wednesday, May 24th. Canaccord Genuity set a $87.00 price objective on Mallinckrodt PLC and gave the company a buy rating in a research note on Monday. Guggenheim set a $98.00 price objective on Mallinckrodt PLC and gave the company a buy rating in a research note on Saturday, April 1st. BidaskClub upgraded Mallinckrodt PLC from a sell rating to a hold rating in a research note on Tuesday, June 13th. Finally, Mizuho restated a buy rating and issued a $73.00 price objective on shares of Mallinckrodt PLC in a research note on Wednesday, May 31st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $74.19.
Mallinckrodt PLC (NYSE MNK) opened at 44.59 on Friday. The company’s market capitalization is $4.43 billion. The company has a 50 day moving average of $43.38 and a 200 day moving average of $46.37. Mallinckrodt PLC has a 1-year low of $38.80 and a 1-year high of $85.83.
Mallinckrodt PLC (NYSE:MNK) last announced its quarterly earnings results on Monday, May 8th. The company reported $1.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.05. Mallinckrodt PLC had a return on equity of 16.33% and a net margin of 16.01%. The business had revenue of $810.90 million during the quarter, compared to the consensus estimate of $781.23 million. During the same quarter in the prior year, the company posted $2.01 earnings per share. Mallinckrodt PLC’s revenue was down .6% compared to the same quarter last year. On average, analysts predict that Mallinckrodt PLC will post $7.55 earnings per share for the current fiscal year.
In other Mallinckrodt PLC news, VP Coleman N. Lannum III acquired 1,968 shares of the business’s stock in a transaction dated Friday, May 12th. The shares were purchased at an average cost of $46.20 per share, for a total transaction of $90,921.60. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Steven J. Romano acquired 1,000 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was acquired at an average price of $39.88 per share, for a total transaction of $39,880.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 5,818 shares of company stock worth $248,608. 0.53% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of MNK. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Mallinckrodt PLC by 2.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,834 shares of the company’s stock worth $143,000 after buying an additional 78 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of Mallinckrodt PLC by 1.3% in the second quarter. Meeder Asset Management Inc. now owns 15,900 shares of the company’s stock worth $712,000 after buying an additional 209 shares in the last quarter. Profund Advisors LLC raised its stake 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 buying an additional 220 shares in the last quarter. Rice Hall James & Associates LLC raised its stake in shares of Mallinckrodt PLC by 2.9% in the first quarter. Rice Hall James & Associates LLC now owns 9,683 shares of the company’s stock worth $432,000 after buying an additional 277 shares in the last quarter. Finally, Xact Kapitalforvaltning AB raised its stake in shares of Mallinckrodt PLC by 4.6% in the second quarter. Xact Kapitalforvaltning AB now owns 8,525 shares of the company’s stock worth $382,000 after buying an additional 374 shares in the last quarter. Hedge funds and other institutional investors own 96.37% 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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