Mallinckrodt plc (NYSE:MNK) Rating
In a report revealed to clients on 29 September, Mallinckrodt plc (NYSE:MNK) stock “Buy” was reaffirmed by Analysts at Mizuho. They currently have a $89 target price per share on the stock. Mizuho’s target price per share suggests a potential upside of 22.81% from the company’s stock close price.
Out of 14 analysts covering Mallinckrodt (NYSE:MNK), 12 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 86% are positive. $218 is the highest target while $72 is the lowest. The $103.80 average target is 43.23% above today’s ($72.47) stock price. Mallinckrodt has been the topic of 24 analyst reports since October 7, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained the stock on August 31 with “Buy” rating. Goldman Sachs initiated it with “Neutral” rating and $73 target price in a June 6 report. Piper Jaffray maintained the shares of MNK in a report on August 24 with “Overweight” rating. JP Morgan maintained the firm’s rating on May 4. JP Morgan has “Neutral” rating and $85 price target. Lastly, Stifel Nicolaus initiated the stock with “Buy” rating in an August 12 report.
The stock increased 1.74% or $1.24 during the last trading session, hitting $72.47. Mallinckrodt PLC (NYSE:MNK) has risen 7.65% since February 25, 2016 and is uptrending. It has underperformed by 3.61% the S&P500.
Analysts await Mallinckrodt PLC (NYSE:MNK) to report earnings on November, 28. They expect $2.25 earnings per share, up 22.28% or $0.41 from last year’s $1.84 per share. MNK’s profit will be $242.79 million for 8.05 P/E if the $2.25 EPS becomes a reality. After $2.20 actual earnings per share reported by Mallinckrodt PLC for the previous quarter, Wall Street now forecasts 2.27% EPS growth.
Insitutional Activity: The institutional sentiment increased to 0.83 in 2016 Q2. Its up 0.07, from 0.76 in 2016Q1. The ratio improved, as 45 funds sold all Mallinckrodt PLC shares owned while 146 reduced positions. 45 funds bought stakes while 113 increased positions. They now own 100.83 million shares or 4.32% less from 105.38 million shares in 2016Q1.
Consonance Capital Management Lp holds 13.42% of its portfolio in Mallinckrodt PLC for 1.56 million shares. Endurant Capital Management Lp owns 234,729 shares or 4.77% of their US portfolio. Moreover, Bridger Management Llc has 4.66% invested in the company for 1.19 million shares. The Oregon-based Peregrine Asset Advisers Inc. has invested 4.1% in the stock. Broadwood Capital Inc, a New York-based fund reported 322,411 shares.
Mallinckrodt public limited company is engaged in the specialty pharmaceuticals and nuclear imaging business. The company has a market cap of $7.82 billion. The Firm develops, makes, markets and distributes specialty pharmaceutical and biopharmaceutical products, and nuclear imaging agents. It has a 15.91 P/E ratio. The Company’s divisions include Specialty Brands, Specialty Generics and Nuclear Imaging.
According to Zacks Investment Research, “Mallinckrodt Plc. is engaged in pharmaceuticals business. It develops, manufactures, markets and distributes specialty pharmaceutical products and medical imaging agents. The company’s Specialty Pharmaceuticals segment includes branded and generic drugs and Medical Imaging segment includes contrast media and nuclear imaging agents. Mallinckrodt Plc. is based in Dublin, Ireland.”
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