Mallinckrodt PLC (NYSE: MNK) has recently received a number of price target changes and ratings updates:

  • 11/29/2016 – Mallinckrodt PLC had its “outperform” rating reaffirmed by analysts at BMO Capital Markets.
  • 11/25/2016 – Mallinckrodt PLC had its price target lowered by analysts at Mizuho from $87.00 to $85.00. They now have a “buy” rating on the stock.
  • 11/21/2016 – Mallinckrodt PLC had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $78.00 price target on the stock.
  • 11/19/2016 – Mallinckrodt PLC had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $87.00 price target on the stock, down previously from $89.00. They wrote, “We have updated our model ahead of the 3Q:16 Earnings call on Nov 29 and reiterate our Buy rating.””
  • 11/19/2016 – Mallinckrodt PLC had its “outperform” rating reaffirmed by analysts at Leerink Swann. They now have a $92.00 price target on the stock.
  • 11/18/2016 – Mallinckrodt PLC is now covered by analysts at Raymond James Financial Inc.. They set an “outperform” rating and a $72.00 price target on the stock.
  • 11/8/2016 – Mallinckrodt PLC was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “buy” rating. They now have a $64.00 price target on the stock. According to Zacks, “Mallinckrodt is currently focused on reshaping its product portfolio through strategic acquisitions and non-core asset divestitures. The company’s acquire-to-invest policy is apparently paying off as both Inomax and Therakos continue to report solid demand along with Ofirmev. The performance of Acthar has been impressive too. We expect the recent acquisitions to provide further accretion to the bottom line in fiscal 2016.  Mallinckrodt has decided to sell its Nuclear Imaging business (diagnostic imaging products) to IBA Molecular as the segment was facing challenges for quite some time now. On the other hand, the weakness in Specialty Generics segment due to stiff competition continues to hurt both volumes and prices. Estimates have been declining lately ahead of the company’s fiscal Q4 earnings release. However, the company has a positive record of earnings surprises in recent quarters.”
  • 11/1/2016 – Mallinckrodt PLC was downgraded by analysts at TheStreet from a “buy” rating to a “hold” rating.
  • 10/21/2016 – Mallinckrodt PLC had its “outperform” rating reaffirmed by analysts at Wells Fargo & Co.. They now have a $83.50 price target on the stock, down previously from $88.50.
  • 10/18/2016 – Mallinckrodt PLC had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $78.00 price target on the stock, down previously from $82.00.
  • 10/4/2016 – Mallinckrodt PLC was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Mallinckrodt is currently focused on reshaping its product portfolio through strategic acquisitions and non-core asset divestitures. The company’s acquire-to-invest policy is apparently paying off as both Inomax and Therakos continue to report solid demand along with Ofirmev. The performance of Acthar has been impressive too. We expect the recent acquisitions to provide further accretion to the bottom line in fiscal 2016.  Mallinckrodt has decided to sell its Nuclear Imaging business (diagnostic imaging products) to IBA Molecular as the segment was facing challenges for quite some time now. On the other hand, the weakness in Specialty Generics segment due to stiff competition continues to hurt both volumes and prices. Estimates have been declining lately ahead of the company’s fiscal Q4 earnings release. However, the company has a positive record of earnings surprises in recent quarters.”

Shares of Mallinckrodt PLC (NYSE:MNK) traded down 0.44% on Wednesday, reaching $52.19. The company had a trading volume of 3,415,309 shares. Mallinckrodt PLC has a 52 week low of $50.90 and a 52 week high of $85.83. The stock’s 50 day moving average is $61.54 and its 200 day moving average is $66.60. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 9.84 and a beta of 1.62.

Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings results on Tuesday, November 29th. The company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.03. Mallinckrodt PLC had a net margin of 16.39% and a return on equity of 17.78%. The business earned $887.20 million during the quarter, compared to analysts’ expectations of $880.10 million. During the same quarter in the prior year, the company posted $1.84 EPS. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, equities analysts anticipate that Mallinckrodt PLC will post $7.66 EPS for the current year.

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.

5 Day Chart for NYSE:MNK

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