Several other brokerages also recently weighed in on MNK. Oppenheimer Holdings, Inc. set a $70.00 price objective on shares of Mallinckrodt PLC and gave the company a buy rating in a research report on Friday, July 28th. Zacks Investment Research upgraded shares of Mallinckrodt PLC from a sell rating to a hold rating in a research report on Thursday, July 27th. BMO Capital Markets restated 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 set a $87.00 price target on shares of Mallinckrodt PLC and gave the stock a buy rating in a research report on Monday, July 17th. Finally, Piper Jaffray Companies set a $85.00 price target on shares of Mallinckrodt PLC and gave the stock a buy rating in a research report on Sunday, July 16th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. Mallinckrodt PLC presently has an average rating of Buy and an average target price of $60.04.
Mallinckrodt PLC (NYSE:MNK) traded down 0.90% during midday trading on Friday, hitting $32.07. The stock had a trading volume of 255,711 shares. Mallinckrodt PLC has a 12 month low of $31.86 and a 12 month high of $68.43. The stock’s market cap is $3.12 billion. The stock has a 50 day moving average of $36.24 and a 200 day moving average of $41.42.
Mallinckrodt PLC (NYSE:MNK) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.12. The firm 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%. Mallinckrodt PLC’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period last year, the firm posted $2.03 EPS. Analysts expect that Mallinckrodt PLC will post $7.39 EPS for the current fiscal year.
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In related news, insider Meredith B. Fischer purchased 1,280 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was acquired at an average cost of $39.63 per share, for a total transaction of $50,726.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.53% of the company’s stock.
Several hedge funds have recently bought and sold shares of MNK. BlackRock Inc. boosted its holdings in shares of Mallinckrodt PLC by 4,060.7% during the first quarter. BlackRock Inc. now owns 8,734,709 shares of the company’s stock worth $389,307,000 after purchasing an additional 8,524,773 shares during the period. HealthCor Management L.P. acquired a new stake in Mallinckrodt PLC in the second quarter valued at approximately $107,649,000. Janus Henderson Group PLC lifted its stake in Mallinckrodt PLC by 6,828.1% in the second quarter. Janus Henderson Group PLC now owns 1,396,780 shares of the company’s stock valued at $62,590,000 after acquiring an additional 1,376,619 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Mallinckrodt PLC by 117.3% in the second quarter. Ameriprise Financial Inc. now owns 1,937,444 shares of the company’s stock valued at $86,815,000 after acquiring an additional 1,045,757 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Mallinckrodt PLC by 638.6% in the first quarter. Bank of America Corp DE now owns 746,838 shares of the company’s stock valued at $33,288,000 after acquiring an additional 645,718 shares during the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.
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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