Morgan Stanley Reiterates Buy Rating for Mallinckrodt PLC (MNK)
Mallinckrodt PLC (NYSE:MNK)‘s stock had its “buy” rating restated by stock analysts at Morgan Stanley in a note issued to investors on Wednesday. They currently have a $82.00 target price on the stock. Morgan Stanley’s target price indicates a potential upside of 10.24% from the company’s previous close.
MNK has been the subject of several other reports. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $83.00 target price on shares of Mallinckrodt PLC in a research note on Friday, August 26th. Vetr upgraded Mallinckrodt PLC from a “hold” rating to a “buy” rating and set a $88.80 target price for the company in a research note on Monday, August 22nd. Barclays PLC restated an “overweight” rating and issued a $88.00 target price on shares of Mallinckrodt PLC in a research note on Thursday, August 25th. Leerink Swann reiterated an “outperform” rating and set a $92.00 price target (up previously from $91.00) on shares of Mallinckrodt PLC in a research note on Friday, September 16th. Finally, Mizuho reiterated a “buy” rating and set a $91.00 price target on shares of Mallinckrodt PLC in a research note on Monday, August 29th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $94.66.
Shares of Mallinckrodt PLC (NYSE:MNK) opened at 74.38 on Wednesday. The firm has a 50-day moving average price of $77.01 and a 200 day moving average price of $65.78. Mallinckrodt PLC has a 1-year low of $50.90 and a 1-year high of $85.83. The company has a market cap of $8.01 billion, a price-to-earnings ratio of 14.03 and a beta of 1.52.
Mallinckrodt PLC (NYSE:MNK) last issued its earnings results on Tuesday, August 2nd. The company reported $2.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.00 by $0.20. The company earned $970.60 million during the quarter, compared to the consensus estimate of $920.35 million. Mallinckrodt PLC had a return on equity of 17.78% and a net margin of 16.39%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the business posted $2.05 EPS. On average, analysts predict that Mallinckrodt PLC will post $7.67 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of MNK. 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 worth $108,000 after buying an additional 984 shares during the last quarter. Rational Advisors LLC acquired a new stake in shares of Mallinckrodt PLC during the second quarter worth about $137,000. Advisor Group Inc. acquired a new stake in shares of Mallinckrodt PLC during the second quarter worth about $196,000. Thrivent Financial for Lutherans acquired a new stake in shares of Mallinckrodt PLC during the second quarter worth about $201,000. Finally, Laurel Wealth Advisors Inc. boosted its stake in shares of Mallinckrodt PLC by 0.5% in the second quarter. Laurel Wealth Advisors Inc. now owns 3,427 shares of the company’s stock worth $208,000 after buying an additional 16 shares during the last quarter. 94.74% of the stock is currently owned by institutional investors and hedge funds.
Mallinckrodt PLC Company Profile
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.
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