Mallinckrodt PLC (NYSE:MNK) – Stock analysts at Cantor Fitzgerald decreased their FY2018 EPS estimates for Mallinckrodt PLC in a research report issued to clients and investors on Friday. Cantor Fitzgerald analyst L. Chen now expects that the company will earn $7.86 per share for the year, down from their previous forecast of $8.04. Cantor Fitzgerald currently has a “Overweight” rating and a $52.00 target price on the stock.
Other equities research analysts also recently issued reports about the company. UBS AG restated a “buy” rating and set a $70.00 price target (down from $100.00) on shares of Mallinckrodt PLC in a research note on Thursday, June 29th. They noted that the move was a valuation call. Mizuho reaffirmed a “buy” rating and set a $73.00 price objective on shares of Mallinckrodt PLC in a research report on Wednesday, May 31st. Wells Fargo & Company reaffirmed an “outperform” rating and set a $83.50 price objective on shares of Mallinckrodt PLC in a research report on Wednesday, June 21st. BidaskClub raised Mallinckrodt PLC from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, Oppenheimer Holdings, Inc. set a $70.00 price objective on Mallinckrodt PLC and gave the company a “buy” rating in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $71.25.
Shares of Mallinckrodt PLC (NYSE MNK) traded down 0.93% during midday trading on Monday, hitting $35.34. 1,125,570 shares of the stock were exchanged. The firm’s 50 day moving average price is $43.57 and its 200-day moving average price is $45.47. The stock’s market cap is $3.43 billion. Mallinckrodt PLC has a 52-week low of $35.04 and a 52-week high of $85.83.
Mallinckrodt PLC (NYSE:MNK) last released its quarterly earnings data on Tuesday, August 8th. The company reported $1.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.12. The business had revenue of $824.50 million for the quarter, compared to the consensus estimate of $829.56 million. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. The company’s revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.03 earnings per share.
In other news, VP Steven J. Romano acquired 1,000 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were acquired at an average cost of $39.88 per share, with a total value of $39,880.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Coleman N. Lannum III acquired 1,350 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were purchased at an average cost of $42.89 per share, for a total transaction of $57,901.50. Following the completion of the acquisition, the vice president now directly owns 30,955 shares in the company, valued at $1,327,659.95. The disclosure for this purchase can be found here. Insiders have bought a total of 3,850 shares of company stock worth $157,687 over the last ninety days. Insiders own 0.53% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Mallinckrodt PLC by 4,060.7% in the first quarter. BlackRock Inc. now owns 8,734,709 shares of the company’s stock valued at $389,307,000 after buying an additional 8,524,773 shares in the last quarter. Wells Fargo & Company MN increased its position in Mallinckrodt PLC by 9.7% in the first quarter. Wells Fargo & Company MN now owns 164,309 shares of the company’s stock valued at $7,322,000 after buying an additional 14,485 shares in the last quarter. LS Investment Advisors LLC increased its position in Mallinckrodt PLC by 18.5% in the first quarter. LS Investment Advisors LLC now owns 6,116 shares of the company’s stock valued at $273,000 after buying an additional 955 shares in the last quarter. OppenheimerFunds Inc. increased its position in Mallinckrodt PLC by 23.1% in the first quarter. OppenheimerFunds Inc. now owns 8,887 shares of the company’s stock valued at $396,000 after buying an additional 1,666 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in Mallinckrodt PLC by 48.9% in the first quarter. Acadian Asset Management LLC now owns 723,612 shares of the company’s stock valued at $32,252,000 after buying an additional 237,728 shares in the last quarter. 94.65% of the stock is currently owned by hedge funds and other 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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