Mallinckrodt PLC (NYSE:MNK)‘s stock had its “hold” rating reaffirmed by stock analysts at Mizuho in a research note issued to investors on Sunday. They currently have a $40.00 price target on the stock. Mizuho’s target price would indicate a potential upside of 23.92% from the company’s previous close.
Several other brokerages also recently weighed in on MNK. Oppenheimer Holdings, Inc. set a $70.00 price objective on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research upgraded Mallinckrodt PLC from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. BMO Capital Markets restated a “buy” rating and set a $69.00 price objective on shares of Mallinckrodt PLC in a research report on Friday, July 28th. Canaccord Genuity set a $87.00 price objective on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Monday, July 17th. Finally, Piper Jaffray Companies set a $85.00 price objective on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Sunday, July 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $60.04.
Mallinckrodt PLC (NYSE:MNK) opened at 32.28 on Friday. Mallinckrodt PLC has a 12-month low of $32.13 and a 12-month high of $68.43. The company’s market capitalization is $3.14 billion. The company has a 50 day moving average price of $36.24 and a 200-day moving average price of $41.42.
Mallinckrodt PLC (NYSE:MNK) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $1.85 earnings per share 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 business had revenue of $824.50 million during the quarter, compared to the consensus estimate of $829.56 million. During the same period in the prior year, the company earned $2.03 EPS. Mallinckrodt PLC’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, analysts anticipate that Mallinckrodt PLC will post $7.39 EPS for the current year.
In related news, insider Meredith B. Fischer acquired 1,280 shares of the stock in a transaction dated Wednesday, August 30th. The stock was bought at an average cost of $39.63 per share, for a total transaction of $50,726.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Mallinckrodt PLC by 4,060.7% during the first quarter. BlackRock Inc. now owns 8,734,709 shares of the company’s stock worth $389,307,000 after acquiring an additional 8,524,773 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Mallinckrodt PLC by 117.3% during the second quarter. Ameriprise Financial Inc. now owns 1,937,444 shares of the company’s stock worth $86,815,000 after acquiring an additional 1,045,757 shares during the last quarter. Icon Advisers Inc. Co. raised its position in shares of Mallinckrodt PLC by 165.6% during the second quarter. Icon Advisers Inc. Co. now owns 114,200 shares of the company’s stock worth $5,117,000 after acquiring an additional 71,200 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Mallinckrodt PLC by 15.4% during the second quarter. Alliancebernstein L.P. now owns 3,348,807 shares of the company’s stock worth $150,060,000 after acquiring an additional 448,011 shares during the last quarter. Finally, LSV Asset Management raised its position in shares of Mallinckrodt PLC by 24.4% during the second quarter. LSV Asset Management now owns 1,249,612 shares of the company’s stock worth $55,995,000 after acquiring an additional 244,753 shares during the last quarter. Institutional investors own 97.36% of the company’s stock.
About Mallinckrodt PLC
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.
Receive News & Ratings for Mallinckrodt PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mallinckrodt PLC and related companies with MarketBeat.com's FREE daily email newsletter.