Published On: Wed, Sep 21st, 2016

Mallinckrodt PLC (MNK) Given “Buy” Rating at Morgan Stanley

Mallinckrodt PLC (NYSE:MNK)‘s stock had its “buy” rating reiterated by research analysts at Morgan Stanley in a research report issued to clients and investors on Wednesday. They currently have a $82.00 price target on the stock. Morgan Stanley’s price target would indicate a potential upside of 10.66% from the stock’s previous close.
MNK has been the subject of a number of other reports. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $83.00 target price on shares of Mallinckrodt PLC in a research report on Friday, August 26th. Vetr raised Mallinckrodt PLC from a “hold” rating to a “buy” rating and set a $88.80 target price for the company in a research report on Monday, August 22nd. Barclays PLC reissued an “overweight” rating and issued a $88.00 target price on shares of Mallinckrodt PLC in a research report on Thursday, August 25th. Leerink Swann reissued an “outperform” rating and issued a $92.00 target price (up from $91.00) on shares of Mallinckrodt PLC in a research report on Friday, September 16th. Finally, Mizuho reaffirmed a “buy” rating and issued a $91.00 price target on shares of Mallinckrodt PLC in a report on Monday, August 29th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $94.66.

Shares of Mallinckrodt PLC (NYSE:MNK) traded down 0.78% during trading on Wednesday, reaching $73.52. The company’s stock had a trading volume of 305,492 shares. Mallinckrodt PLC has a 12-month low of $50.90 and a 12-month high of $85.83. The stock’s 50-day moving average is $77.24 and its 200-day moving average is $65.66. The stock has a market cap of $7.92 billion, a P/E ratio of 13.86 and a beta of 1.52.

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Mallinckrodt PLC (NYSE:MNK) last released its earnings results on Tuesday, August 2nd. The company reported $2.20 earnings per share (EPS) for the quarter, topping 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 business earned $970.60 million during the quarter, compared to the consensus estimate of $920.35 million. During the same period last year, the business posted $2.05 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. Equities research analysts anticipate that Mallinckrodt PLC will post $7.68 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNK. Mizuho Asset Management Co. Ltd. increased its position in Mallinckrodt PLC by 125.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,771 shares of the company’s stock valued at $108,000 after buying an additional 984 shares in the last quarter. Rational Advisors LLC acquired a new position in shares of Mallinckrodt PLC during the second quarter worth about $137,000. Advisor Group Inc. acquired a new position in shares of Mallinckrodt PLC during the second quarter worth about $196,000. Thrivent Financial for Lutherans acquired a new position in shares of Mallinckrodt PLC during the second quarter worth about $201,000. Finally, Laurel Wealth Advisors Inc. increased its position 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 in the last quarter. Hedge funds and other institutional investors own 94.74% of the company’s stock.
Mallinckrodt PLC Company Profile
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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