Mallinckrodt PLC (NYSE:MNK) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “hold” rating in a research report issued on Monday. They currently have a $51.34 target price on the stock. Vetr‘s price target indicates a potential upside of 3.24% from the stock’s previous close.
MNK has been the subject of a number of other research reports. Raymond James Financial, Inc. began coverage on shares of Mallinckrodt PLC in a report on Friday, November 18th. They issued an “outperform” rating and a $72.00 price objective for the company. 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. Piper Jaffray Companies dropped their price objective on shares of Mallinckrodt PLC from $108.00 to $83.00 and set an “overweight” rating for the company in a report on Wednesday, February 8th. Mizuho dropped their price objective on shares of Mallinckrodt PLC from $87.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, December 1st. Finally, Zacks Investment Research cut shares of Mallinckrodt PLC from a “hold” rating to a “sell” rating in a report on Monday, January 2nd. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $79.66.
Shares of Mallinckrodt PLC (NYSE:MNK) traded up 0.93% during mid-day trading on Monday, hitting $49.73. 2,044,455 shares of the stock traded hands. The company has a market cap of $5.21 billion, a P/E ratio of 19.30 and a beta of 1.48. Mallinckrodt PLC has a 12 month low of $42.67 and a 12 month high of $85.83. The firm has a 50 day moving average of $49.59 and a 200 day moving average of $62.59.
Mallinckrodt PLC (NYSE:MNK) last announced its quarterly earnings data on Tuesday, February 7th. The company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. The firm earned $829.90 million during the quarter, compared to analysts’ expectations of $827.12 million. Mallinckrodt PLC had a net margin of 7.75% and a return on equity of 17.34%. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.97 earnings per share. Equities analysts anticipate that Mallinckrodt PLC will post $7.57 EPS for the current fiscal year.
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Institutional investors have recently made changes to their positions in the company. Decatur Capital Management Inc. purchased a new position in shares of Mallinckrodt PLC during the second quarter worth approximately $959,000. GAM Holding AG increased its position in shares of Mallinckrodt PLC by 3.1% in the second quarter. GAM Holding AG now owns 268,016 shares of the company’s stock worth $16,288,000 after buying an additional 8,114 shares during the last quarter. Engineers Gate Manager LP increased its position in shares of Mallinckrodt PLC by 50.8% in the second quarter. Engineers Gate Manager LP now owns 87,647 shares of the company’s stock worth $5,327,000 after buying an additional 29,526 shares during the last quarter. Tredje AP fonden increased its position in shares of Mallinckrodt PLC by 2.9% in the second quarter. Tredje AP fonden now owns 152,602 shares of the company’s stock worth $9,275,000 after buying an additional 4,330 shares during the last quarter. Finally, Sentry Investment Management LLC increased its position in shares of Mallinckrodt PLC by 4.4% in the second quarter. Sentry Investment Management LLC now owns 37,801 shares of the company’s stock worth $2,298,000 after buying an additional 1,596 shares during the last quarter. 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.
To view Vetr’s full report, visit Vetr’s official website.
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