Mizuho Trims Mallinckrodt PLC (MNK) Target Price to $89.00
MNK has been the subject of a number of other reports. Vetr downgraded Mallinckrodt PLC from a strong-buy rating to a buy rating and set a $72.20 price objective for the company. in a research report on Wednesday, July 20th. Goldman Sachs Group Inc. began coverage on Mallinckrodt PLC in a report on Monday, June 6th. They issued a neutral rating and a $73.00 price target for the company. Zacks Investment Research raised Mallinckrodt PLC from a hold rating to a buy rating and set a $83.00 price objective for the company in a report on Tuesday, August 30th. Piper Jaffray Cos. increased their price objective on Mallinckrodt PLC from $103.00 to $112.00 and gave the company an overweight rating in a report on Wednesday, August 24th. Finally, Barclays PLC reissued an overweight rating and issued a $88.00 price objective on shares of Mallinckrodt PLC in a report on Thursday, August 25th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $94.54.
Mallinckrodt PLC (NYSE:MNK) opened at 71.17 on Thursday. Mallinckrodt PLC has a 12 month low of $50.90 and a 12 month high of $85.83. The company has a 50 day moving average of $75.43 and a 200 day moving average of $66.30. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of 13.42 and a beta of 1.54.
Mallinckrodt PLC (NYSE:MNK) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $2.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.00 by $0.20. The company had revenue of $970.60 million for the quarter, compared to analyst estimates of $920.35 million. Mallinckrodt PLC had a net margin of 16.39% and a return on equity of 17.78%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 earnings per share. On average, equities analysts predict that Mallinckrodt PLC will post $7.65 EPS for the current year.
Several hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. raised its stake in shares of Mallinckrodt PLC by 271.2% in the first quarter. Prudential Financial Inc. now owns 1,893,119 shares of the company’s stock worth $116,010,000 after buying an additional 1,383,180 shares during the period. Emerald Acquisition Ltd. acquired a new position in shares of Mallinckrodt PLC during the second quarter worth $35,680,000. Dimensional Fund Advisors LP increased its position in shares of Mallinckrodt PLC by 93.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,187,203 shares of the company’s stock worth $72,152,000 after buying an additional 573,682 shares in the last quarter. Capital Growth Management LP increased its position in shares of Mallinckrodt PLC by 69.2% in the first quarter. Capital Growth Management LP now owns 1,125,000 shares of the company’s stock worth $68,940,000 after buying an additional 460,000 shares in the last quarter. Finally, FMR LLC increased its position in shares of Mallinckrodt PLC by 142.8% in the second quarter. FMR LLC now owns 712,469 shares of the company’s stock worth $43,304,000 after buying an additional 419,057 shares in the last quarter. 94.74% of the stock is currently owned by 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.
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