Mallinckrodt PLC’s (MNK) Buy Rating Reiterated at Jefferies Group LLC
Jefferies Group LLC reissued their buy rating on shares of Mallinckrodt PLC (NYSE:MNK) in a research report sent to investors on Thursday. Jefferies Group LLC currently has a $70.00 price target on the stock.
A number of other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Mallinckrodt PLC from a hold rating to a sell rating in a research report on Tuesday, July 11th. Wells Fargo & Company restated an outperform rating and set a $83.50 price target on shares of Mallinckrodt PLC in a research report on Wednesday, June 21st. ValuEngine downgraded shares of Mallinckrodt PLC from a buy rating to a hold rating in a research report on Friday, June 2nd. Canaccord Genuity dropped their price target on shares of Mallinckrodt PLC from $91.00 to $87.00 and set a buy rating on the stock in a research report on Tuesday, May 9th. Finally, Deutsche Bank AG set a $68.00 price target on shares of Mallinckrodt PLC and gave the stock a buy rating in a research report on Wednesday, May 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company’s stock. Mallinckrodt PLC presently has an average rating of Buy and an average price target of $74.09.
Shares of Mallinckrodt PLC (NYSE MNK) traded down 1.44% on Thursday, reaching $41.02. 2,290,151 shares of the company’s stock were exchanged. Mallinckrodt PLC has a 1-year low of $38.80 and a 1-year high of $85.83. The stock’s 50-day moving average price is $44.74 and its 200-day moving average price is $45.97. The company’s market capitalization is $4.08 billion.
Mallinckrodt PLC (NYSE:MNK) last released its quarterly earnings results on Monday, May 8th. The company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.05. Mallinckrodt PLC had a net margin of 16.01% and a return on equity of 16.33%. The company had revenue of $810.90 million for the quarter, compared to the consensus estimate of $781.23 million. During the same period in the previous year, the firm earned $2.01 EPS. Mallinckrodt PLC’s revenue was down .6% on a year-over-year basis. Analysts anticipate that Mallinckrodt PLC will post $7.55 EPS for the current fiscal year.
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In other news, VP Steven J. Romano purchased 1,000 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were acquired at an average price of $39.88 per share, for a total transaction of $39,880.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Coleman N. Lannum III purchased 1,968 shares of the business’s stock in a transaction dated Friday, May 12th. The shares were purchased at an average price of $46.20 per share, for a total transaction of $90,921.60. The disclosure for this purchase can be found here. Insiders have bought 5,818 shares of company stock worth $248,608 in the last 90 days. 0.77% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its stake in Mallinckrodt PLC by 324.6% in the first quarter. IFP Advisors Inc now owns 2,518 shares of the company’s stock worth $112,000 after buying an additional 1,925 shares in the last quarter. Denali Advisors LLC purchased a new stake in Mallinckrodt PLC during the second quarter worth about $112,000. Ameritas Investment Partners Inc. purchased a new stake in Mallinckrodt PLC during the first quarter worth about $115,000. Daiwa Securities Group Inc. raised its stake in Mallinckrodt PLC by 18.5% in the first quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the company’s stock worth $143,000 after buying an additional 500 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in Mallinckrodt PLC by 335.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,373 shares of the company’s stock worth $150,000 after buying an additional 2,599 shares in the last quarter. Institutional investors and hedge funds own 95.76% of the company’s stock.
About Mallinckrodt PLC
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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