Mallinckrodt PLC’s (MNK) Hold Rating Reaffirmed at Mizuho
MNK has been the topic of several other reports. UBS AG restated a buy rating and set a $70.00 target price on shares of Mallinckrodt PLC in a research report on Wednesday, September 6th. BidaskClub upgraded shares of Mallinckrodt PLC from a strong sell rating to a sell rating in a research report on Friday, August 25th. Deutsche Bank AG restated a buy rating and set a $45.00 target price (down from $56.00) on shares of Mallinckrodt PLC in a research report on Thursday, September 14th. Zacks Investment Research lowered shares of Mallinckrodt PLC from a hold rating to a sell rating in a research report on Tuesday, July 11th. Finally, Cantor Fitzgerald restated a buy rating and set a $52.00 target price on shares of Mallinckrodt PLC in a research report on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Mallinckrodt PLC has an average rating of Buy and an average target price of $60.04.
Shares of Mallinckrodt PLC (NYSE:MNK) traded down 0.21% on Friday, reaching $33.22. 376,429 shares of the company were exchanged. The stock has a 50 day moving average of $36.24 and a 200-day moving average of $41.42. The company’s market capitalization is $3.23 billion. Mallinckrodt PLC has a 52-week low of $33.19 and a 52-week high of $68.43.
Mallinckrodt PLC (NYSE:MNK) last issued its earnings results on Tuesday, August 8th. The company reported $1.85 earnings per share for the quarter, topping the 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 analyst estimates of $829.56 million. During the same period in the prior year, the business posted $2.03 earnings per share. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, analysts predict that Mallinckrodt PLC will post $7.39 EPS for the current fiscal year.
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In other news, insider Meredith B. Fischer acquired 1,280 shares of Mallinckrodt PLC stock in a transaction that occurred on Wednesday, August 30th. The shares were acquired at an average price of $39.63 per share, with a total value of $50,726.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in MNK. BlackRock Inc. lifted its stake in shares of Mallinckrodt PLC by 4,060.7% during 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 period. HealthCor Management L.P. purchased a new position in shares of Mallinckrodt PLC during the second quarter valued at approximately $107,649,000. Janus Henderson Group PLC lifted its stake in shares of Mallinckrodt PLC by 6,828.1% during the second quarter. Janus Henderson Group PLC now owns 1,396,780 shares of the company’s stock valued at $62,590,000 after buying an additional 1,376,619 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Mallinckrodt PLC by 117.3% during the second quarter. Ameriprise Financial Inc. now owns 1,937,444 shares of the company’s stock valued at $86,815,000 after buying an additional 1,045,757 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Mallinckrodt PLC by 638.6% during the first quarter. Bank of America Corp DE now owns 746,838 shares of the company’s stock valued at $33,288,000 after buying an additional 645,718 shares during the period. 97.36% of the stock is currently owned by institutional investors and hedge funds.
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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