Mallinckrodt PLC (NYSE:MNK)‘s stock had its “buy” rating reiterated by investment analysts at Deutsche Bank AG in a research report issued on Tuesday. They presently have a $78.00 price target on the stock, down from their previous price target of $82.00. Deutsche Bank AG’s price objective would suggest a potential upside of 20.07% from the company’s current price.
A number of other equities research analysts have also recently issued reports on MNK. Leerink Swann set a $91.00 price target on shares of Mallinckrodt PLC and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Barclays PLC lifted their price target on shares of Mallinckrodt PLC from $75.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, August 3rd. Zacks Investment Research cut shares of Mallinckrodt PLC from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Vetr raised shares of Mallinckrodt PLC from a “buy” rating to a “strong-buy” rating and set a $72.20 price target on the stock in a research note on Monday, July 11th. Finally, JPMorgan Chase & Co. set a $85.00 price target on shares of Mallinckrodt PLC and gave the company a “hold” rating in a research note on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $92.05.
Shares of Mallinckrodt PLC (NYSE:MNK) traded down 1.55% during midday trading on Tuesday, hitting $63.95. 1,222,929 shares of the stock traded hands. Mallinckrodt PLC has a 12-month low of $50.90 and a 12-month high of $85.83. The company’s 50 day moving average price is $72.28 and its 200-day moving average price is $66.89. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 12.06 and a beta of 1.54.
Mallinckrodt PLC (NYSE:MNK) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.20. Mallinckrodt PLC had a net margin of 16.39% and a return on equity of 17.78%. The firm had revenue of $970.60 million for the quarter, compared to analysts’ expectations of $920.35 million. During the same quarter last year, the company earned $2.05 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities research analysts expect that Mallinckrodt PLC will post $7.63 EPS for the current year.
A number of hedge funds have recently modified their holdings of MNK. Mizuho Asset Management Co. Ltd. raised its stake in shares of Mallinckrodt PLC by 125.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,771 shares of the company’s stock worth $108,000 after buying an additional 984 shares during the period. Rational Advisors LLC acquired a new stake in shares of Mallinckrodt PLC during the second quarter worth about $137,000. Advisor Group Inc. acquired a new stake in shares of Mallinckrodt PLC during the second quarter worth about $196,000. Thrivent Financial for Lutherans acquired a new stake in shares of Mallinckrodt PLC during the second quarter worth about $201,000. Finally, Laurel Wealth Advisors Inc. raised its stake in shares of Mallinckrodt PLC by 0.5% in the second quarter. Laurel Wealth Advisors Inc. now owns 3,427 shares of the company’s stock worth $208,000 after buying an additional 16 shares during the period. Institutional investors own 94.67% of the company’s stock.
About Mallinckrodt PLC
Mallinckrodt public limited company (Mallinckrodt) is engaged in the specialty pharmaceuticals and nuclear imaging business. The Company develops, manufactures, markets and distributes specialty pharmaceutical and biopharmaceutical products, and nuclear imaging agents. The Company’s segments include Specialty Brands, Specialty Generics and Nuclear Imaging.
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