Mallinckrodt PLC (NYSE:MNK)‘s stock had its “outperform” rating reissued by research analysts at Leerink Swann in a research report issued to clients and investors on Monday.
Several other research analysts have also weighed in on the stock. Mizuho reissued a “buy” rating and set a $85.00 price objective on shares of Mallinckrodt PLC in a research note on Thursday, January 19th. Vetr lowered shares of Mallinckrodt PLC from a “buy” rating to a “hold” rating and set a $55.80 price objective on the stock. in a research note on Monday, January 9th. BMO Capital Markets reissued an “outperform” rating and set a $92.00 price objective on shares of Mallinckrodt PLC in a research note on Tuesday, November 29th. Oppenheimer Holdings Inc. reissued an “outperform” rating on shares of Mallinckrodt PLC in a research note on Tuesday, December 20th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $78.00 price objective on shares of Mallinckrodt PLC in a research note on Monday, November 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $78.05.
Mallinckrodt PLC (NYSE:MNK) traded down 0.77% during mid-day trading on Monday, reaching $46.54. 1,068,325 shares of the company’s stock traded hands. Mallinckrodt PLC has a 1-year low of $42.67 and a 1-year high of $85.83. The firm has a 50-day moving average price of $50.54 and a 200-day moving average price of $58.16. The stock has a market cap of $4.87 billion, a P/E ratio of 18.06 and a beta of 1.48.
Mallinckrodt PLC (NYSE:MNK) last issued its earnings results on Tuesday, February 7th. The company reported $1.91 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $829.90 million for the quarter, compared to analyst estimates of $827.12 million. During the same quarter last year, the firm earned $1.97 EPS. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. Equities research analysts anticipate that Mallinckrodt PLC will post $7.57 EPS for the current fiscal year.
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In related news, VP Steven J. Romano bought 1,000 shares of the company’s stock in a transaction on Friday, February 10th. The shares were purchased at an average cost of $49.68 per share, for a total transaction of $49,680.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Matthew K. Harbaugh bought 600 shares of the company’s stock in a transaction on Friday, March 10th. The shares were bought at an average price of $49.19 per share, for a total transaction of $29,514.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 4,890 shares of company stock worth $252,946 over the last 90 days. Corporate insiders own 0.53% of the company’s stock.
A number of hedge funds have recently made changes to their positions in MNK. Paulson & CO. Inc. bought a new stake in shares of Mallinckrodt PLC during the fourth quarter valued at approximately $397,408,000. AQR Capital Management LLC increased its stake in 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 period. Norges Bank acquired a new stake in Mallinckrodt PLC during the fourth quarter worth about $45,574,000. Chartwell Investment Partners LLC acquired a new stake in Mallinckrodt PLC during the third quarter worth about $31,922,000. Finally, Guggenheim Capital LLC increased its stake in 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 period. Hedge funds and other institutional investors own 88.79% 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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