A number of other equities analysts also recently commented on the company. Morgan Stanley restated a buy rating and issued a $82.00 target price on shares of Mallinckrodt PLC in a research note on Wednesday, September 21st. BMO Capital Markets assumed coverage on Mallinckrodt PLC in a research report on Tuesday, June 28th. They set an outperform rating and a $84.00 price objective for the company. Piper Jaffray Cos. boosted their price objective on Mallinckrodt PLC from $103.00 to $112.00 and gave the stock an overweight rating in a research report on Wednesday, August 24th. TheStreet upgraded Mallinckrodt PLC from a hold rating to a buy rating in a research report on Friday, June 17th. Finally, Vetr downgraded Mallinckrodt PLC from a buy rating to a hold rating and set a $83.20 price objective for the company. in a research report on Wednesday, August 17th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $94.54.
Shares of Mallinckrodt PLC (NYSE:MNK) traded up 1.30% during midday trading on Thursday, reaching $69.89. The company’s stock had a trading volume of 319,699 shares. The stock’s 50 day moving average is $75.94 and its 200 day moving average is $66.05. Mallinckrodt PLC has a 12 month low of $50.90 and a 12 month high of $85.83. The stock has a market capitalization of $7.53 billion, a PE ratio of 13.18 and a beta of 1.52.
Mallinckrodt PLC (NYSE:MNK) last issued its earnings results on Tuesday, August 2nd. The company reported $2.20 EPS for the quarter, beating the Zacks’ consensus estimate of $2.00 by $0.20. Mallinckrodt PLC had a return on equity of 17.78% and a net margin of 16.39%. The company earned $970.60 million during the quarter, compared to the consensus estimate of $920.35 million. During the same period in the previous year, the firm posted $2.05 earnings per share. Mallinckrodt PLC’s quarterly revenue was up .6% compared to the same quarter last year. On average, analysts forecast that Mallinckrodt PLC will post $7.66 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of MNK. Prudential Financial Inc. boosted its position in Mallinckrodt PLC by 271.2% in the first quarter. Prudential Financial Inc. now owns 1,893,119 shares of the company’s stock valued at $116,010,000 after buying an additional 1,383,180 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in Mallinckrodt PLC during the second quarter valued at about $35,680,000. Dimensional Fund Advisors LP boosted its position in Mallinckrodt PLC by 93.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,187,203 shares of the company’s stock valued at $72,152,000 after buying an additional 573,682 shares in the last quarter. Capital Growth Management LP boosted its position in Mallinckrodt PLC by 69.2% in the first quarter. Capital Growth Management LP now owns 1,125,000 shares of the company’s stock valued at $68,940,000 after buying an additional 460,000 shares in the last quarter. Finally, FMR LLC boosted its position in Mallinckrodt PLC by 142.8% in the second quarter. FMR LLC now owns 712,469 shares of the company’s stock valued at $43,304,000 after buying an additional 419,057 shares in the last quarter. 94.74% of the stock is currently owned by institutional investors.
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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