Shares of Mallinckrodt PLC (NYSE:MNK) rose 5.1% during trading on Wednesday . The stock traded as high as $65.66 and last traded at $65.31, with a volume of 764,542 shares trading hands. The stock had previously closed at $62.16.

MNK has been the topic of several recent analyst reports. Guggenheim reiterated a “buy” rating and set a $98.00 target price on shares of Mallinckrodt PLC in a research note on Wednesday, March 23rd. Goldman Sachs Group Inc. initiated coverage on Mallinckrodt PLC in a research note on Monday, June 6th. They set a “neutral” rating and a $73.00 target price on the stock. Jefferies Group reiterated a “buy” rating and set a $85.00 target price on shares of Mallinckrodt PLC in a research note on Saturday, April 2nd. Zacks Investment Research downgraded Mallinckrodt PLC from a “buy” rating to a “hold” rating in a research note on Friday, May 6th. Finally, Mizuho reiterated a “buy” rating and set a $80.00 target price (up from $78.00) on shares of Mallinckrodt PLC in a research note on Thursday, April 28th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $91.25.

The company has a 50-day moving average price of $60.92 and a 200 day moving average price of $62.45. The company has a market cap of $7.31 billion and a P/E ratio of 16.77.

Mallinckrodt PLC (NYSE:MNK) last released its quarterly earnings results on Tuesday, May 3rd. The company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.29. The company had revenue of $918 million for the quarter, compared to analyst estimates of $878.70 million. During the same quarter last year, the company earned $1.72 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities analysts anticipate that Mallinckrodt PLC will post $8.28 earnings per share for the current year.

In other Mallinckrodt PLC news, VP Hugh M. O’neill acquired 1,653 shares of the business’s stock in a transaction on Tuesday, May 10th. The stock was bought at an average price of $60.99 per share, for a total transaction of $100,816.47. Following the acquisition, the vice president now owns 15,623 shares in the company, valued at $952,846.77. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matthew K. Harbaugh acquired 500 shares of the business’s stock in a transaction on Tuesday, May 10th. The stock was acquired at an average price of $59.37 per share, with a total value of $29,685.00. Following the acquisition, the chief financial officer now owns 56,036 shares in the company, valued at approximately $3,326,857.32. The disclosure for this purchase can be found here.

Other hedge funds have added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Mallinckrodt PLC by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 10,007,770 shares of the company’s stock worth $746,880,000 after buying an additional 308,237 shares during the last quarter. Morgan Stanley increased its stake in Mallinckrodt PLC by 42.0% in the fourth quarter. Morgan Stanley now owns 988,662 shares of the company’s stock worth $73,784,000 after buying an additional 292,240 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in Mallinckrodt PLC during the fourth quarter worth approximately $44,778,000. State of Tennessee Treasury Department increased its stake in Mallinckrodt PLC by 11.1% in the fourth quarter. State of Tennessee Treasury Department now owns 579,668 shares of the company’s stock worth $43,261,000 after buying an additional 57,751 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Mallinckrodt PLC by 17.4% in the fourth quarter. BNP Paribas Arbitrage SA now owns 556,918 shares of the company’s stock worth $41,563,000 after buying an additional 82,741 shares during the last quarter.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.