Mallinckrodt PLC (NYSE:MNK) has been given a consensus recommendation of “Buy” by the twenty-two brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and fifteen have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $75.27.
A number of equities research analysts recently issued reports on the stock. BidaskClub raised shares of Mallinckrodt PLC from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Cantor Fitzgerald started coverage on shares of Mallinckrodt PLC in a research note on Friday. They issued an “overweight” rating and a $52.00 target price on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $70.00 target price on shares of Mallinckrodt PLC in a research note on Wednesday, May 31st. Morgan Stanley set a $65.00 target price on shares of Mallinckrodt PLC and gave the company a “buy” rating in a research note on Wednesday, May 31st. Finally, Guggenheim set a $98.00 price target on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a report on Saturday, April 1st.
Mallinckrodt PLC (NYSE MNK) traded up 4.65% during trading on Friday, reaching $43.64. 1,633,326 shares of the company traded hands. The firm’s 50 day moving average price is $43.16 and its 200 day moving average price is $47.66. The firm’s market capitalization is $4.34 billion. Mallinckrodt PLC has a 12-month low of $38.80 and a 12-month high of $85.83.
Mallinckrodt PLC (NYSE:MNK) last released its earnings results on Monday, May 8th. The company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.63 by $0.05. The firm had revenue of $810.90 million for the quarter, compared to the consensus estimate of $781.23 million. Mallinckrodt PLC had a net margin of 16.01% and a return on equity of 16.33%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.01 earnings per share. Equities research analysts expect that Mallinckrodt PLC will post $7.55 earnings per share for the current year.
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In other news, VP Coleman N. Lannum III acquired 1,350 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were acquired at an average price of $42.89 per share, with a total value of $57,901.50. Following the purchase, the vice president now directly owns 30,955 shares of the company’s stock, valued at $1,327,659.95. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Steven J. Romano acquired 1,000 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were purchased at an average cost of $39.88 per share, for a total transaction of $39,880.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 5,818 shares of company stock valued at $248,608 over the last three months. 0.53% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Focused Wealth Management Inc boosted its stake in Mallinckrodt PLC by 19.7% in the fourth quarter. Focused Wealth Management Inc now owns 2,426 shares of the company’s stock worth $121,000 after buying an additional 400 shares in the last quarter. IFP Advisors Inc boosted its stake in Mallinckrodt PLC by 324.6% in the first quarter. IFP Advisors Inc now owns 2,518 shares of the company’s stock worth $112,000 after buying an additional 1,925 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in Mallinckrodt PLC during the first quarter worth about $115,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in Mallinckrodt PLC by 2.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,834 shares of the company’s stock worth $143,000 after buying an additional 78 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Mallinckrodt PLC by 18.5% in the first quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the company’s stock worth $143,000 after buying an additional 500 shares in the last quarter. 96.96% of the stock is currently 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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