Mallinckrodt PLC (NYSE:MNK) was downgraded by analysts at Goldman Sachs Group, Inc. (The) from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday. They presently have a $55.00 price target on the stock. Goldman Sachs Group, Inc. (The)’s target price would indicate a potential upside of 153.57% from the company’s current price.
MNK has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Mallinckrodt PLC from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. UBS AG restated a “buy” rating and issued a $70.00 target price on shares of Mallinckrodt PLC in a report on Wednesday, September 6th. Cantor Fitzgerald restated a “buy” rating and issued a $52.00 target price on shares of Mallinckrodt PLC in a report on Thursday, November 2nd. BidaskClub upgraded shares of Mallinckrodt PLC from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $45.00 target price (down previously from $56.00) on shares of Mallinckrodt PLC in a report on Thursday, September 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. Mallinckrodt PLC currently has an average rating of “Hold” and an average price target of $50.44.
Shares of Mallinckrodt PLC (NYSE MNK) traded down $0.51 during midday trading on Wednesday, hitting $21.69. 4,421,471 shares of the stock traded hands, compared to its average volume of 2,463,549. Mallinckrodt PLC has a 52-week low of $19.00 and a 52-week high of $68.12. The firm has a market capitalization of $1,898.20, a price-to-earnings ratio of 2.70, a P/E/G ratio of 0.28 and a beta of 1.46. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.08.
Mallinckrodt PLC (NYSE:MNK) last posted its earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.80 by $0.17. Mallinckrodt PLC had a net margin of 11.43% and a return on equity of 14.79%. The company had revenue of $793.90 million for the quarter, compared to analyst estimates of $808.93 million. During the same quarter in the prior year, the business posted $2.04 EPS. The firm’s revenue was down 10.5% compared to the same quarter last year. sell-side analysts forecast that Mallinckrodt PLC will post 7.31 earnings per share for the current fiscal year.
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In related news, insider Meredith B. Fischer bought 1,280 shares of Mallinckrodt PLC stock in a transaction dated Wednesday, August 30th. The stock was purchased at an average cost of $39.63 per share, with a total value of $50,726.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.77% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MNK. OppenheimerFunds Inc. boosted its holdings in Mallinckrodt PLC by 23.1% in the 1st quarter. OppenheimerFunds Inc. now owns 8,887 shares of the company’s stock worth $396,000 after buying an additional 1,666 shares during the period. Principal Financial Group Inc. boosted its holdings in Mallinckrodt PLC by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 164,395 shares of the company’s stock worth $7,328,000 after buying an additional 699 shares during the period. Wellington Management Group LLP bought a new position in Mallinckrodt PLC in the 1st quarter worth approximately $373,000. Teachers Advisors LLC boosted its holdings in Mallinckrodt PLC by 4.3% in the 1st quarter. Teachers Advisors LLC now owns 187,286 shares of the company’s stock worth $8,347,000 after buying an additional 7,753 shares during the period. Finally, Amalgamated Bank boosted its holdings in Mallinckrodt PLC by 6.2% in the 1st quarter. Amalgamated Bank now owns 7,625 shares of the company’s stock worth $340,000 after buying an additional 447 shares during the period. 97.96% of the stock is owned by institutional investors.
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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