November 23, 2016 - By Ruchi Gupta
In a note revealed to clients and investors on today, Mizuho reiterated their “Buy” rating on Mallinckrodt plc (NYSE:MNK)‘s stock. The target price gives a potential upside of 53.01% from company’s previous stock close.
Out of 16 analysts covering Mallinckrodt (NYSE:MNK), 13 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 81% are positive. $218 is the highest target while $72 is the lowest. The $104.17 average target is 83.27% above today’s ($56.84) stock price. Mallinckrodt has been the topic of 32 analyst reports since August 5, 2015 according to StockzIntelligence Inc. As per Thursday, August 25, the company rating was maintained by Barclays Capital. The firm has “Overweight” rating by Barclays Capital given on Wednesday, August 5. Barclays Capital maintained it with “Overweight” rating and $100 target price in Thursday, September 24 report. Wells Fargo initiated the stock with “Outperform” rating in Friday, February 19 report. The firm earned “Buy” rating on Friday, August 12 by Stifel Nicolaus. Barclays Capital maintained Mallinckrodt PLC (NYSE:MNK) rating on Tuesday, October 13. Barclays Capital has “Overweight” rating and $80 price target. The stock of Mallinckrodt PLC (NYSE:MNK) earned “Outperform” rating by Northland Capital on Wednesday, November 25. The stock of Mallinckrodt PLC (NYSE:MNK) earned “Outperform” rating by RBC Capital Markets on Monday, March 28. The stock has “Overweight” rating given by Morgan Stanley on Thursday, December 3. The stock has “Neutral” rating given by Mizuho on Friday, October 9.
About 1.76 million shares traded hands. Mallinckrodt PLC (NYSE:MNK) has declined 13.45% since April 21, 2016 and is downtrending. It has underperformed by 18.78% the S&P500.
Analysts await Mallinckrodt PLC (NYSE:MNK) to report earnings on November, 28. They expect $2.25 EPS, up 22.28% or $0.41 from last year’s $1.84 per share. MNK’s profit will be $238.65 million for 6.32 P/E if the $2.25 EPS becomes a reality. After $2.20 actual EPS reported by Mallinckrodt PLC for the previous quarter, Wall Street now forecasts 2.27% EPS growth.
Insitutional Activity: The institutional sentiment increased to 0.91 in 2016 Q2. Its up 0.08, from 0.83 in 2016Q1. The ratio is positive, 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.
Capstone Asset Comm holds 14,341 shares or 0.03% of its portfolio. Pggm Investments accumulated 0.02% or 78,604 shares. Moreover, Mycio Wealth Prns has 0% invested in Mallinckrodt PLC (NYSE:MNK) for 76 shares. Citadel Advsr Limited has 0.11% invested in the company for 1.60 million shares. Reilly Ltd Company owns 2,694 shares or 0.03% of their US portfolio. British Columbia Investment Mngmt Corporation accumulated 36,187 shares or 0.02% of the stock. Wfg L P holds 0.01% or 364 shares in its portfolio. Hillsdale Investment Management owns 5,260 shares or 0.09% of their US portfolio. Amalgamated Comml Bank holds 0.02% of its portfolio in Mallinckrodt PLC (NYSE:MNK) for 5,151 shares. Duncker Streett & has 0.01% invested in the company for 543 shares. Deere & Commerce last reported 0.02% of its portfolio in the stock. Fund Mngmt owns 25,172 shares or 0.01% of their US portfolio. Brandywine Inv Limited has 852,416 shares for 0.35% of their US portfolio. Pinebridge Invs Lp reported 4,216 shares or 0.01% of all its holdings. Moreover, Ubs Asset Mngmt Americas has 0.09% invested in Mallinckrodt PLC (NYSE:MNK) for 1.28 million shares.
Mallinckrodt public limited company is engaged in the specialty pharmaceuticals and nuclear imaging business. The company has a market cap of $6.03 billion. The Firm develops, makes, markets and distributes specialty pharmaceutical and biopharmaceutical products, and nuclear imaging agents. It has a 12.48 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.”
More news for Mallinckrodt PLC (NYSE:MNK) were recently published by: Investorplace.com, which released: “Why Lowe’s Companies, Inc. (LOW), PDL BioPharma Inc (PDLI) and Mallinckrodt …” on November 16, 2016. Cnbc.com‘s article titled: “Mallinckrodt shares tank as short-seller Andrew Left claims CEO commits fraud” and published on November 16, 2016 is yet another important article.
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By Ruchi Gupta