Brokerages Set Mallinckrodt PLC (MNK) Price Target at $41.96

Mallinckrodt PLC (NYSE:MNK) has earned a consensus rating of “Hold” from the twenty-three brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $41.96.

A number of equities research analysts have weighed in on the stock. Mizuho reiterated a “neutral” rating and set a $21.00 price target (down from $22.00) on shares of Mallinckrodt in a research report on Tuesday, January 9th. Cantor Fitzgerald set a $52.00 price target on shares of Mallinckrodt and gave the company a “buy” rating in a research report on Monday, October 2nd. Canaccord Genuity set a $24.00 price target on shares of Mallinckrodt and gave the company a “hold” rating in a research report on Sunday, January 7th. ValuEngine cut shares of Mallinckrodt from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Morgan Stanley dropped their price target on shares of Mallinckrodt from $40.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 8th.

In other news, Director David R. Carlucci purchased 10,000 shares of the stock in a transaction on Thursday, November 9th. The stock was bought at an average price of $21.83 per share, for a total transaction of $218,300.00. Following the acquisition, the director now directly owns 26,020 shares of the company’s stock, valued at approximately $568,016.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Trudeau purchased 5,000 shares of the stock in a transaction on Friday, November 10th. The shares were purchased at an average price of $22.28 per share, with a total value of $111,400.00. The disclosure for this purchase can be found here. Insiders purchased 30,460 shares of company stock valued at $659,486 in the last 90 days. Company insiders own 0.53% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. grew its holdings in Mallinckrodt by 6.9% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 433,563 shares of the company’s stock worth $16,203,000 after acquiring an additional 27,908 shares in the last quarter. American International Group Inc. grew its holdings in Mallinckrodt by 464.6% during the 3rd quarter. American International Group Inc. now owns 198,807 shares of the company’s stock worth $7,429,000 after acquiring an additional 163,596 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in Mallinckrodt by 2.1% during the 2nd quarter. Lord Abbett & CO. LLC now owns 610,870 shares of the company’s stock worth $27,373,000 after acquiring an additional 12,700 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in Mallinckrodt by 29.8% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 199,439 shares of the company’s stock worth $8,937,000 after acquiring an additional 45,750 shares in the last quarter. Finally, Aperio Group LLC grew its holdings in Mallinckrodt by 35.5% during the 3rd quarter. Aperio Group LLC now owns 58,362 shares of the company’s stock worth $2,181,000 after acquiring an additional 15,301 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Shares of Mallinckrodt (MNK) remained flat at $$21.81 on Friday. 1,997,284 shares of the stock traded hands, compared to its average volume of 2,385,713. Mallinckrodt has a 52 week low of $19.00 and a 52 week high of $55.32. The firm has a market capitalization of $2,070.00, a price-to-earnings ratio of -1,090.50, a PEG ratio of 0.40 and a beta of 1.30. The company has a quick ratio of 1.05, a current ratio of 1.38 and a debt-to-equity ratio of 1.08.

Mallinckrodt (NYSE:MNK) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.17. Mallinckrodt had a net margin of 11.43% and a return on equity of 14.79%. The business had revenue of $793.90 million during the quarter, compared to analysts’ expectations of $808.93 million. During the same period last year, the business earned $2.04 earnings per share. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. sell-side analysts anticipate that Mallinckrodt will post 7.2 earnings per share for the current year.

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Mallinckrodt 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.

Analyst Recommendations for Mallinckrodt (NYSE:MNK)

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