Mallinckrodt PLC (MNK) Lowered to “Strong Sell” at BidaskClub
Mallinckrodt PLC (NYSE:MNK) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Friday.
Several other analysts have also issued reports on the company. Mizuho reiterated a “buy” rating and set a $70.00 target price (down previously from $73.00) on shares of Mallinckrodt PLC in a report on Wednesday, August 9th. BMO Capital Markets reiterated an “outperform” rating and set a $65.00 target price (down previously from $69.00) on shares of Mallinckrodt PLC in a report on Wednesday, August 9th. Raymond James Financial, Inc. dropped their target price on Mallinckrodt PLC from $65.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday, August 9th. Deutsche Bank AG set a $56.00 target price on Mallinckrodt PLC and gave the stock a “buy” rating in a report on Wednesday, August 9th. Finally, UBS AG set a $70.00 target price on Mallinckrodt PLC and gave the stock a “buy” rating in a report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. Mallinckrodt PLC has an average rating of “Buy” and an average target price of $71.25.
Shares of Mallinckrodt PLC (NYSE MNK) traded up 0.28% on Friday, hitting $36.46. The stock had a trading volume of 910,592 shares. The stock’s market capitalization is $3.54 billion. The firm’s 50 day moving average is $42.76 and its 200-day moving average is $45.25. Mallinckrodt PLC has a one year low of $35.04 and a one year high of $85.83.
Mallinckrodt PLC (NYSE:MNK) last released its earnings results on Tuesday, August 8th. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.12. Mallinckrodt PLC had a return on equity of 15.28% and a net margin of 12.64%. The business had revenue of $824.50 million for the quarter, compared to analyst estimates of $829.56 million. During the same quarter in the prior year, the company posted $2.03 earnings per share. Mallinckrodt PLC’s revenue was down 4.9% on a year-over-year basis. Equities research analysts expect that Mallinckrodt PLC will post $7.46 earnings per share for the current fiscal year.
In other news, VP Coleman N. Lannum III bought 1,350 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were bought at an average price of $42.89 per share, with a total value of $57,901.50. Following the completion of the transaction, the vice president now owns 30,955 shares of the company’s stock, valued at $1,327,659.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Steven J. Romano bought 1,000 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was purchased at an average cost of $39.88 per share, for a total transaction of $39,880.00. The disclosure for this purchase can be found here. Insiders bought 3,850 shares of company stock worth $157,687 in the last ninety days. 0.77% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of MNK. Vanguard Group Inc. increased its position in Mallinckrodt PLC by 1.0% in the first quarter. Vanguard Group Inc. now owns 10,247,891 shares of the company’s stock valued at $456,748,000 after buying an additional 103,924 shares during the last quarter. BlackRock Inc. increased its position in Mallinckrodt PLC by 4,060.7% in the first quarter. BlackRock Inc. now owns 8,734,709 shares of the company’s stock valued at $389,307,000 after buying an additional 8,524,773 shares during the last quarter. State Street Corp increased its position in Mallinckrodt PLC by 5.1% in the first quarter. State Street Corp now owns 5,197,656 shares of the company’s stock valued at $231,654,000 after buying an additional 250,838 shares during the last quarter. Alliancebernstein L.P. increased its position in Mallinckrodt PLC by 15.4% in the second quarter. Alliancebernstein L.P. now owns 3,348,807 shares of the company’s stock valued at $150,060,000 after buying an additional 448,011 shares during the last quarter. Finally, HealthCor Management L.P. purchased a new position in Mallinckrodt PLC during the second quarter valued at approximately $107,649,000. 94.65% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Mallinckrodt PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mallinckrodt PLC and related companies with MarketBeat.com's FREE daily email newsletter.