Mallinckrodt PLC’s (MNK) Buy Rating Reiterated at Jefferies Group LLC
Mallinckrodt PLC (NYSE:MNK)‘s stock had its “buy” rating restated by equities researchers at Jefferies Group LLC in a research report issued to clients and investors on Tuesday. They presently have a $70.00 price target on the stock. Jefferies Group LLC’s target price indicates a potential upside of 60.40% from the company’s previous close.
Several other equities analysts have also recently issued reports on the company. Leerink Swann reissued an “outperform” rating on shares of Mallinckrodt PLC in a report on Monday, March 20th. Canaccord Genuity decreased their price objective on Mallinckrodt PLC from $91.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, May 9th. BMO Capital Markets decreased their price objective on Mallinckrodt PLC from $79.00 to $69.00 and set an “outperform” rating for the company in a report on Wednesday, May 10th. Vetr cut Mallinckrodt PLC from a “hold” rating to a “sell” rating and set a $51.34 price objective for the company. in a report on Monday, February 20th. Finally, Deutsche Bank AG set a $68.00 price objective on Mallinckrodt PLC and gave the company a “buy” rating in a report on Wednesday, May 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company. Mallinckrodt PLC currently has a consensus rating of “Buy” and an average price target of $74.31.
Shares of Mallinckrodt PLC (NYSE MNK) traded up 1.44% on Tuesday, hitting $44.27. The stock had a trading volume of 816,923 shares. The firm’s market cap is $4.40 billion. Mallinckrodt PLC has a 12-month low of $38.80 and a 12-month high of $85.83. The stock has a 50 day moving average of $43.06 and a 200 day moving average of $47.52.
Mallinckrodt PLC (NYSE:MNK) last issued its quarterly earnings data on Monday, May 8th. The company reported $1.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.05. The business had revenue of $810.90 million during the quarter, compared to analysts’ expectations of $781.23 million. Mallinckrodt PLC had a return on equity of 16.33% and a net margin of 16.01%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.01 EPS. Equities analysts predict that Mallinckrodt PLC will post $7.55 earnings per share for the current fiscal year.
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In other news, VP Steven J. Romano acquired 1,000 shares of the business’s stock in a transaction on Friday, June 9th. The stock was bought at an average cost of $39.88 per share, for a total transaction of $39,880.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Coleman N. Lannum III acquired 1,968 shares of the business’s stock in a transaction on Friday, May 12th. The shares were purchased at an average price of $46.20 per share, with a total value of $90,921.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 5,818 shares of company stock valued at $248,608. 0.53% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of MNK. GLG LLC raised its stake in Mallinckrodt PLC by 6.8% in the fourth quarter. GLG LLC now owns 7,358 shares of the company’s stock valued at $367,000 after buying an additional 468 shares during the period. Two Sigma Investments LP purchased a new stake in Mallinckrodt PLC during the fourth quarter valued at approximately $8,302,000. Franklin Resources Inc. raised its stake in Mallinckrodt PLC by 14.1% in the fourth quarter. Franklin Resources Inc. now owns 851,517 shares of the company’s stock valued at $42,423,000 after buying an additional 105,165 shares during the period. GSA Capital Partners LLP raised its stake in Mallinckrodt PLC by 63.7% in the fourth quarter. GSA Capital Partners LLP now owns 12,912 shares of the company’s stock valued at $643,000 after buying an additional 5,023 shares during the period. Finally, Allianz Asset Management AG raised its stake in Mallinckrodt PLC by 121.2% in the fourth quarter. Allianz Asset Management AG now owns 362,827 shares of the company’s stock valued at $18,076,000 after buying an additional 198,772 shares during the period. Institutional investors own 96.96% of the company’s stock.
Mallinckrodt PLC Company Profile
Mallinckrodt public limited company develops, manufactures, markets and distributes branded and generic specialty pharmaceutical products and therapies. The Company focuses on various therapeutic areas, such as autoimmune and rare disease specialty areas, including neurology, rheumatology, nephrology, ophthalmology and pulmonology; immunotherapy and neonatal critical care respiratory therapies; analgesics and hemostasis products, and central nervous system drugs.
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