Shares of Mallinckrodt PLC (NYSE:MNK) have received an average recommendation of “Buy” from the nineteen brokerages that are covering the company. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and fourteen have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $79.82.
MNK has been the topic of several research reports. BMO Capital Markets reiterated an “outperform” rating and issued a $92.00 price objective on shares of Mallinckrodt PLC in a report on Tuesday, November 29th. Deutsche Bank AG decreased their price objective on shares of Mallinckrodt PLC from $78.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. JPMorgan Chase & Co. decreased their price objective on shares of Mallinckrodt PLC from $85.00 to $78.00 and set a “neutral” rating on the stock in a report on Wednesday, November 30th. Mizuho decreased their price objective on shares of Mallinckrodt PLC from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, December 1st. Finally, Leerink Swann set a $70.00 price objective on shares of Mallinckrodt PLC and gave the company a “buy” rating in a report on Wednesday, November 30th.
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In other news, CFO Matthew K. Harbaugh acquired 600 shares of Mallinckrodt PLC stock in a transaction on Friday, March 10th. The shares were purchased at an average cost of $49.19 per share, for a total transaction of $29,514.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Steven J. Romano acquired 1,000 shares of Mallinckrodt PLC stock in a transaction on Friday, February 10th. The shares were purchased at an average price of $49.68 per share, for a total transaction of $49,680.00. The disclosure for this purchase can be found here. Insiders purchased 4,890 shares of company stock worth $252,946 over the last 90 days. 0.53% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the company. Paulson & CO. Inc. purchased a new stake in shares of Mallinckrodt PLC during the fourth quarter worth about $397,408,000. AQR Capital Management LLC increased its stake in shares of Mallinckrodt PLC by 76.7% in the fourth quarter. AQR Capital Management LLC now owns 3,232,782 shares of the company’s stock worth $161,058,000 after buying an additional 1,403,738 shares during the last quarter. Norges Bank purchased a new stake in shares of Mallinckrodt PLC during the fourth quarter worth about $45,574,000. Chartwell Investment Partners LLC purchased a new stake in shares of Mallinckrodt PLC during the third quarter worth about $31,922,000. Finally, Guggenheim Capital LLC increased its stake in shares of Mallinckrodt PLC by 84.0% in the fourth quarter. Guggenheim Capital LLC now owns 896,389 shares of the company’s stock worth $44,658,000 after buying an additional 409,263 shares during the last quarter. Hedge funds and other institutional investors own 88.79% of the company’s stock.
Mallinckrodt PLC (NYSE:MNK) opened at 43.09 on Thursday. Mallinckrodt PLC has a one year low of $41.57 and a one year high of $85.83. The company has a market capitalization of $4.51 billion, a P/E ratio of 16.72 and a beta of 1.48. The company’s 50-day moving average is $49.92 and its 200 day moving average is $57.18.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings results on Tuesday, February 7th. The company reported $1.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.09. Mallinckrodt PLC had a net margin of 7.75% and a return on equity of 17.34%. The firm had revenue of $829.90 million for the quarter, compared to analyst estimates of $827.12 million. During the same period in the prior year, the firm posted $1.97 earnings per share. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. Analysts predict that Mallinckrodt PLC will post $7.57 EPS for the current year.
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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