Mallinckrodt PLC (NYSE:MNK)‘s stock had its “buy” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a report issued on Thursday. They presently have a $52.00 price objective on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 68.39% from the stock’s previous close.
Several other research firms also recently weighed in on MNK. Zacks Investment Research downgraded Mallinckrodt PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Canaccord Genuity set a $87.00 price target on Mallinckrodt PLC and gave the stock a “buy” rating in a research note on Monday, July 17th. Piper Jaffray Companies set a $85.00 price target on Mallinckrodt PLC and gave the stock a “buy” rating in a research note on Sunday, July 16th. Oppenheimer Holdings, Inc. set a $70.00 price target on Mallinckrodt PLC and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, BMO Capital Markets restated a “buy” rating and issued a $69.00 price target on shares of Mallinckrodt PLC in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. Mallinckrodt PLC currently has a consensus rating of “Buy” and an average target price of $60.04.
Shares of Mallinckrodt PLC (NYSE MNK) traded down $1.18 during trading hours on Thursday, hitting $30.88. The stock had a trading volume of 1,868,583 shares, compared to its average volume of 1,810,000. Mallinckrodt PLC has a 12-month low of $30.08 and a 12-month high of $68.12. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 4.07, a P/E/G ratio of 0.43 and a beta of 1.46. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.06 and a quick ratio of 0.81.
Mallinckrodt PLC (NYSE:MNK) last announced its earnings results on Tuesday, August 8th. The company reported $1.85 earnings per share (EPS) 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 firm had revenue of $824.50 million during the quarter, compared to analyst estimates of $829.56 million. During the same quarter in the prior year, the company earned $2.03 EPS. The business’s revenue was down 4.9% compared to the same quarter last year. analysts forecast that Mallinckrodt PLC will post 7.38 earnings per share for the current fiscal year.
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In related news, insider Meredith B. Fischer bought 1,280 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were bought at an average cost of $39.63 per share, with a total value of $50,726.40. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.77% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Advantus Capital Management Inc raised its holdings in Mallinckrodt PLC by 23.7% in the 3rd quarter. Advantus Capital Management Inc now owns 12,286 shares of the company’s stock worth $459,000 after purchasing an additional 2,352 shares during the period. Principal Financial Group Inc. raised its holdings in Mallinckrodt PLC by 167.1% in the 3rd quarter. Principal Financial Group Inc. now owns 413,881 shares of the company’s stock worth $15,467,000 after purchasing an additional 258,946 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Mallinckrodt PLC by 78.6% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 85,353 shares of the company’s stock worth $3,190,000 after purchasing an additional 37,576 shares during the period. Prudential Financial Inc. raised its holdings in Mallinckrodt PLC by 114.9% in the 3rd quarter. Prudential Financial Inc. now owns 1,379,978 shares of the company’s stock worth $51,569,000 after purchasing an additional 737,791 shares during the period. Finally, Gabelli Funds LLC raised its holdings in Mallinckrodt PLC by 28.3% in the 3rd quarter. Gabelli Funds LLC now owns 186,000 shares of the company’s stock worth $6,951,000 after purchasing an additional 41,000 shares during the period. 97.65% of the stock is currently owned by institutional investors.
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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