Jefferies Group LLC initiated coverage on shares of Mallinckrodt PLC (NYSE:MNK) in a report issued on Wednesday morning. The firm issued a buy rating and a $30.00 price target on the stock. Jefferies Group also issued estimates for Mallinckrodt PLC’s Q4 2017 earnings at $1.75 EPS, FY2017 earnings at $7.25 EPS, Q1 2018 earnings at $1.55 EPS, Q2 2018 earnings at $1.66 EPS, Q3 2018 earnings at $2.07 EPS, Q4 2018 earnings at $1.98 EPS, FY2018 earnings at $7.26 EPS, FY2019 earnings at $7.65 EPS and FY2020 earnings at $8.34 EPS.
Other equities research analysts also recently issued reports about the stock. Oppenheimer Holdings, Inc. reduced their price target on shares of Mallinckrodt PLC from $70.00 to $48.00 in a research report on Tuesday, September 19th. Piper Jaffray Companies set a $85.00 price target on shares of Mallinckrodt PLC and gave the company a buy rating in a research report on Sunday, July 16th. Canaccord Genuity set a $87.00 price objective on shares of Mallinckrodt PLC and gave the stock a buy rating in a research note on Monday, July 17th. Deutsche Bank AG set a $56.00 price objective on shares of Mallinckrodt PLC and gave the stock a buy rating in a research note on Wednesday, August 9th. Finally, UBS AG set a $70.00 price objective on shares of Mallinckrodt PLC and gave the stock a buy rating in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. Mallinckrodt PLC has an average rating of Hold and a consensus price target of $50.44.
Mallinckrodt PLC (NYSE:MNK) traded down $0.44 during mid-day trading on Wednesday, hitting $21.76. 5,866,300 shares of the stock were exchanged, compared to its average volume of 4,500,033. Mallinckrodt PLC has a 52 week low of $19.00 and a 52 week high of $68.12. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.81 and a current ratio of 1.38. The firm has a market cap of $2,067.31, a P/E ratio of 2.94, a price-to-earnings-growth ratio of 0.32 and a beta of 1.46.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.17. Mallinckrodt PLC had a net margin of 11.43% and a return on equity of 14.79%. The company had revenue of $793.90 million during the quarter, compared to the consensus estimate of $808.93 million. During the same period last year, the firm earned $2.04 EPS. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. equities research analysts expect that Mallinckrodt PLC will post 7.23 earnings per share for the current year.
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In related news, insider Meredith B. Fischer purchased 1,280 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were bought at an average price of $39.63 per share, for a total transaction of $50,726.40. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.77% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in MNK. HealthCor Management L.P. acquired a new position in shares of Mallinckrodt PLC in the 2nd quarter valued at $107,649,000. Janus Henderson Group PLC boosted its holdings in shares of Mallinckrodt PLC by 6,828.1% in the 2nd 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 during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Mallinckrodt PLC by 117.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,937,444 shares of the company’s stock valued at $86,815,000 after purchasing an additional 1,045,757 shares during the last quarter. Prudential Financial Inc. boosted its holdings in shares of Mallinckrodt PLC by 114.9% in the 3rd quarter. Prudential Financial Inc. now owns 1,379,978 shares of the company’s stock valued at $51,569,000 after purchasing an additional 737,791 shares during the last quarter. Finally, AJO LP boosted its holdings in shares of Mallinckrodt PLC by 165.6% in the 2nd quarter. AJO LP now owns 927,472 shares of the company’s stock valued at $41,560,000 after purchasing an additional 578,266 shares during the last quarter. Institutional investors own 97.96% 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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