A number of other brokerages also recently issued reports on MNK. Oppenheimer Holdings, Inc. set a $70.00 price target 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 reiterated a buy rating and set a $69.00 price target on shares of Mallinckrodt PLC in a research report on Friday, July 28th. Canaccord Genuity lowered their price target on Mallinckrodt PLC from $91.00 to $87.00 and set a buy rating on the stock in a research report on Tuesday, May 9th. Finally, UBS AG reiterated a buy rating and set a $70.00 price target (down previously 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. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $72.44.
Shares of Mallinckrodt PLC (MNK) opened at 37.04 on Monday. Mallinckrodt PLC has a 52 week low of $36.88 and a 52 week high of $85.83. The company’s market cap is $3.65 billion. The company’s 50-day moving average price is $44.13 and its 200 day moving average price is $45.63.
Mallinckrodt PLC (NYSE:MNK) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. The company had revenue of $824.50 million for the quarter, compared to the consensus estimate of $829.56 million. Mallinckrodt PLC had a return on equity of 15.28% and a net margin of 12.64%. Mallinckrodt PLC’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.03 earnings per share. Equities research analysts anticipate that Mallinckrodt PLC will post $7.54 earnings per share for the current fiscal year.
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In related news, VP Coleman N. Lannum III purchased 1,350 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was purchased at an average price of $42.89 per share, with a total value of $57,901.50. Following the completion of the acquisition, the vice president now owns 30,955 shares in the company, valued at $1,327,659.95. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Steven J. Romano purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was bought at an average cost of $39.88 per share, with a total value of $39,880.00. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 3,850 shares of company stock valued at $157,687. Insiders own 0.77% of the company’s stock.
Several large investors have recently bought and sold shares of MNK. Meeder Asset Management Inc. boosted its stake in Mallinckrodt PLC by 1.3% in the second quarter. Meeder Asset Management Inc. now owns 15,900 shares of the company’s stock valued at $712,000 after buying an additional 209 shares in the last quarter. Profund Advisors LLC boosted its stake in Mallinckrodt PLC by 3.6% in the first quarter. Profund Advisors LLC now owns 6,399 shares of the company’s stock valued at $285,000 after buying an additional 220 shares in the last quarter. Rice Hall James & Associates LLC boosted its stake in Mallinckrodt PLC by 2.9% in the first quarter. Rice Hall James & Associates LLC now owns 9,683 shares of the company’s stock valued at $432,000 after buying an additional 277 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in Mallinckrodt PLC by 4.6% in the second quarter. Xact Kapitalforvaltning AB now owns 8,525 shares of the company’s stock valued at $382,000 after buying an additional 374 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in Mallinckrodt PLC by 6.2% in the first quarter. Amalgamated Bank now owns 7,625 shares of the company’s stock valued at $340,000 after buying an additional 447 shares in the last quarter. 95.71% of the stock is owned by hedge funds and other 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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