Mallinckrodt PLC (MNK) Stock Price Down 4.2%
Shares of Mallinckrodt PLC (NYSE:MNK) fell 4.2% on Monday . The stock traded as low as $72.21 and last traded at $72.42, with a volume of 2,399,600 shares changing hands. The stock had previously closed at $75.59.
Several research firms have recently weighed in on MNK. Leerink Swann set a $91.00 target price on Mallinckrodt PLC and gave the company a “buy” rating in a report on Wednesday, August 3rd. Barclays PLC boosted their price target on Mallinckrodt PLC from $75.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, August 3rd. Vetr upgraded Mallinckrodt PLC from a “buy” rating to a “strong-buy” rating and set a $72.20 price target on the stock in a research report on Monday, July 11th. Zacks Investment Research cut Mallinckrodt PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Finally, JPMorgan Chase & Co. set a $85.00 price target on Mallinckrodt PLC and gave the company a “hold” rating in a research report on Wednesday, August 3rd. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $95.32.
The stock’s 50 day moving average price is $74.26 and its 200-day moving average price is $64.88. The company has a market cap of $7.80 billion and a PE ratio of 13.66.
Mallinckrodt PLC (NYSE:MNK) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $2.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.00 by $0.20. The business had revenue of $970.60 million for the quarter, compared to the consensus estimate of $920.35 million. During the same period last year, the firm posted $2.05 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. On average, equities research analysts forecast that Mallinckrodt PLC will post $7.71 earnings per share for the current year.
A hedge fund recently raised its stake in Mallinckrodt PLC stock. Ameriprise Financial Inc. raised its position in shares of Mallinckrodt PLC (NYSE:MNK) by 69.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 617,468 shares of the company’s stock after buying an additional 252,605 shares during the period. Ameriprise Financial Inc. owned about 0.55% of Mallinckrodt PLC worth $46,089,000 at the end of the most recent reporting period.
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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