Mallinckrodt PLC (MNK) Stock Rating Reaffirmed by Deutsche Bank AG
Mallinckrodt PLC (NYSE:MNK)‘s stock had its “buy” rating reaffirmed by equities research analysts at Deutsche Bank AG in a note issued to investors on Thursday. They presently have a $45.00 price target on the stock, down from their previous price target of $56.00. Deutsche Bank AG’s price target would indicate a potential upside of 31.31% from the stock’s previous close.
MNK has been the topic of several other reports. Canaccord Genuity set a $87.00 price objective on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Monday, July 17th. Cantor Fitzgerald assumed coverage on shares of Mallinckrodt PLC in a research report on Friday, June 16th. They set an “overweight” rating and a $52.00 price objective on the stock. Morgan Stanley downgraded shares of Mallinckrodt PLC from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $65.00 to $40.00 in a report on Wednesday, September 6th. Mizuho downgraded shares of Mallinckrodt PLC from a “buy” rating to a “neutral” rating and lowered their target price for the company from $70.00 to $40.00 in a report on Wednesday. Finally, Zacks Investment Research raised shares of Mallinckrodt PLC from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $64.15.
Shares of Mallinckrodt PLC (MNK) opened at 34.27 on Thursday. Mallinckrodt PLC has a 12-month low of $34.17 and a 12-month high of $77.25. The stock’s market capitalization is $3.33 billion. The firm has a 50-day moving average of $38.33 and a 200 day moving average of $43.27.
Mallinckrodt PLC (NYSE:MNK) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $1.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.12. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. The company had revenue of $824.50 million for the quarter, compared to the consensus estimate of $829.56 million. During the same period last year, the firm posted $2.03 EPS. Mallinckrodt PLC’s revenue for the quarter was down 4.9% on a year-over-year basis. Equities analysts forecast that Mallinckrodt PLC will post $7.43 earnings per share for the current fiscal year.
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In related news, insider Meredith B. Fischer bought 1,280 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was purchased at an average cost of $39.63 per share, for a total transaction of $50,726.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.77% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Denali Advisors LLC purchased a new stake in Mallinckrodt PLC in the second quarter valued at approximately $112,000. Ameritas Investment Partners Inc. purchased a new stake in Mallinckrodt PLC during the first quarter worth approximately $115,000. Daiwa Securities Group Inc. grew its stake in Mallinckrodt PLC by 18.5% during 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 during the period. O Shaughnessy Asset Management LLC grew its stake in Mallinckrodt PLC by 335.8% during 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 during the period. Finally, Sterling Capital Management LLC purchased a new stake in Mallinckrodt PLC during the second quarter worth approximately $204,000. Hedge funds and other institutional investors own 97.48% 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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