Mallinckrodt PLC (MNK) Receives $32.25 Average Price Target from Brokerages

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Shares of Mallinckrodt PLC (NYSE:MNK) have been given an average recommendation of “Hold” by the twenty-one ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $32.59.

A number of analysts have recently issued reports on MNK shares. Piper Jaffray Companies reissued a “buy” rating and issued a $39.00 price target on shares of Mallinckrodt in a research report on Wednesday, August 8th. Canaccord Genuity reissued a “hold” rating and issued a $22.00 price target on shares of Mallinckrodt in a research report on Monday, August 13th. Cantor Fitzgerald reissued a “buy” rating and issued a $42.00 price target on shares of Mallinckrodt in a research report on Tuesday, August 7th. Leerink Swann increased their price target on shares of Mallinckrodt from $12.00 to $27.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 8th. Finally, Stifel Nicolaus increased their price target on shares of Mallinckrodt from $18.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, August 8th.

MNK stock traded down $0.56 during mid-day trading on Monday, reaching $33.15. 71,708 shares of the stock traded hands, compared to its average volume of 3,758,951. The company has a current ratio of 2.27, a quick ratio of 2.06 and a debt-to-equity ratio of 0.98. Mallinckrodt has a 52-week low of $11.65 and a 52-week high of $39.05. The firm has a market capitalization of $2.87 billion, a PE ratio of 4.53, a P/E/G ratio of 0.57 and a beta of 1.57.

Mallinckrodt (NYSE:MNK) last posted its quarterly earnings results on Tuesday, August 7th. The company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.30. The business had revenue of $631.70 million during the quarter, compared to analyst estimates of $621.15 million. Mallinckrodt had a net margin of 59.85% and a return on equity of 10.39%. equities research analysts anticipate that Mallinckrodt will post 6.7 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of MNK. Alps Advisors Inc. raised its position in Mallinckrodt by 160.5% during the first quarter. Alps Advisors Inc. now owns 27,751 shares of the company’s stock valued at $402,000 after acquiring an additional 17,099 shares in the last quarter. New York State Teachers Retirement System raised its position in Mallinckrodt by 5.3% during the first quarter. New York State Teachers Retirement System now owns 190,501 shares of the company’s stock valued at $2,758,000 after acquiring an additional 9,673 shares in the last quarter. SG Americas Securities LLC raised its position in Mallinckrodt by 131.2% during the first quarter. SG Americas Securities LLC now owns 352,854 shares of the company’s stock valued at $5,109,000 after acquiring an additional 200,242 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Mallinckrodt by 11,188.0% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 10,385 shares of the company’s stock valued at $150,000 after acquiring an additional 10,293 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its position in Mallinckrodt by 135.3% during the first quarter. Meeder Asset Management Inc. now owns 45,379 shares of the company’s stock valued at $657,000 after acquiring an additional 26,094 shares in the last quarter.

About Mallinckrodt

Mallinckrodt public limited company develops, manufactures, markets, and distributes branded pharmaceutical products in Canada and the European Union, as well as in Latin American, the Middle Eastern, African, and the Asia-Pacific regions. The company markets branded pharmaceutical products for autoimmune and rare diseases in the specialty areas of neurology, rheumatology, nephrology, ophthalmology, and pulmonology; and immunotherapy and neonatal respiratory critical care therapies, as well as analgesics and gastrointestinal products.

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Analyst Recommendations for Mallinckrodt (NYSE:MNK)

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