Shares of Mallinckrodt PLC (NYSE:MNK) have been assigned a consensus rating of “Buy” from the twenty-two research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $63.11.
Several research firms have weighed in on MNK. Oppenheimer Holdings, Inc. set a $70.00 target price on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a report on Friday, July 28th. Zacks Investment Research upgraded shares of Mallinckrodt PLC from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. BMO Capital Markets reiterated a “buy” rating and issued a $69.00 target price on shares of Mallinckrodt PLC in a report on Friday, July 28th. Canaccord Genuity set a $87.00 target price on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a report on Monday, July 17th. Finally, Piper Jaffray Companies set a $85.00 target price on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a report on Sunday, July 16th.
Mallinckrodt PLC (NYSE:MNK) traded down 0.09% during trading on Friday, reaching $34.83. 1,178,283 shares of the company’s stock traded hands. The company’s market cap is $3.38 billion. The firm’s 50 day moving average is $37.65 and its 200 day moving average is $42.88. Mallinckrodt PLC has a 12 month low of $33.61 and a 12 month high of $76.81.
Mallinckrodt PLC (NYSE:MNK) last posted 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 for the quarter, compared to analyst estimates of $829.56 million. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period last year, the business posted $2.03 earnings per share. Analysts anticipate that Mallinckrodt PLC will post $7.43 EPS for the current year.
In other Mallinckrodt PLC news, insider Meredith B. Fischer bought 1,280 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was acquired at an average price of $39.63 per share, with a total value of $50,726.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.77% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC grew its position in Mallinckrodt PLC by 2.1% in the second quarter. Lord Abbett & CO. LLC now owns 610,870 shares of the company’s stock valued at $27,373,000 after purchasing an additional 12,700 shares in the last quarter. Sentry Investment Management LLC grew its position in Mallinckrodt PLC by 1.6% in the second quarter. Sentry Investment Management LLC now owns 52,676 shares of the company’s stock valued at $2,360,000 after purchasing an additional 817 shares in the last quarter. Toronto Dominion Bank grew its position in Mallinckrodt PLC by 42.2% in the second quarter. Toronto Dominion Bank now owns 40,221 shares of the company’s stock valued at $1,802,000 after purchasing an additional 11,935 shares in the last quarter. Sterling Capital Management LLC bought a new position in Mallinckrodt PLC in the second quarter valued at $204,000. Finally, Janus Henderson Group PLC grew its position in Mallinckrodt PLC by 6,828.1% in the second quarter. Janus Henderson Group PLC now owns 1,396,780 shares of the company’s stock valued at $62,590,000 after purchasing an additional 1,376,619 shares in the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.
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.
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