Mallinckrodt PLC (NYSE:MNK)‘s stock had its “buy” rating restated by investment analysts at Wells Fargo & Co. in a note issued to investors on Thursday.
Other research analysts have also issued research reports about the company. Mizuho reduced their target price on Mallinckrodt PLC from $87.00 to $85.00 and set a “buy” rating for the company in a report on Friday, November 25th. Deutsche Bank AG reiterated a “buy” rating and set a $78.00 price target on shares of Mallinckrodt PLC in a research report on Monday, November 21st. Morgan Stanley reiterated a “buy” rating and set a $82.00 price target on shares of Mallinckrodt PLC in a research report on Wednesday, September 21st. Zacks Investment Research upgraded Mallinckrodt PLC from a “sell” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Tuesday, November 8th. Finally, Leerink Swann set a $70.00 price target on Mallinckrodt PLC and gave the company a “buy” rating in a research report on Wednesday, November 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $83.49.
Mallinckrodt PLC (NYSE:MNK) traded up 4.17% during midday trading on Thursday, reaching $48.47. 7,103,538 shares of the company traded hands. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of 8.39 and a beta of 1.49. Mallinckrodt PLC has a one year low of $42.67 and a one year high of $85.83. The firm has a 50-day moving average price of $52.09 and a 200-day moving average price of $64.57.
Mallinckrodt PLC (NYSE:MNK) last posted its earnings results on Tuesday, November 29th. The company reported $2.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.01 by $0.03. The business earned $887.20 million during the quarter, compared to analyst estimates of $880.10 million. Mallinckrodt PLC had a return on equity of 17.92% and a net margin of 17.44%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.84 EPS. Equities analysts predict that Mallinckrodt PLC will post $7.70 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of the stock. Penserra Capital Management LLC boosted its position in Mallinckrodt PLC by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,440 shares of the company’s stock valued at $100,000 after buying an additional 720 shares during the period. Mizuho Asset Management Co. Ltd. boosted its stake in shares of Mallinckrodt PLC by 125.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,771 shares of the company’s stock valued at $108,000 after buying an additional 984 shares during the last quarter. NEXT Financial Group Inc boosted its stake in shares of Mallinckrodt PLC by 5.2% in the third quarter. NEXT Financial Group Inc now owns 1,676 shares of the company’s stock valued at $117,000 after buying an additional 83 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Mallinckrodt PLC during the third quarter valued at $119,000. Finally, Rational Advisors LLC purchased a new stake in shares of Mallinckrodt PLC during the second quarter valued at $137,000. 87.97% of the stock is currently owned by hedge funds and other institutional investors.
About Mallinckrodt PLC
Mallinckrodt public limited company (Mallinckrodt) is engaged in the specialty pharmaceuticals and nuclear imaging business. The Company develops, manufactures, markets and distributes specialty pharmaceutical and biopharmaceutical products, and nuclear imaging agents. The Company’s segments include Specialty Brands, Specialty Generics and Nuclear Imaging.