Mallinckrodt plc (NYSE:MNK) Rating Reaffirmed
Mallinckrodt plc (NYSE:MNK) just had their share rating of a ‘”Neutral”‘ issued by research analysts at Mizuho, who now has a $72 target price per share on the $8.37 billion market cap company or a -0.21% downside potential. This key information was unveiled in recent note on Wednesday morning.
From a total of 15 analysts covering Mallinckrodt (NYSE:MNK) stock, 10 rate it a ”Buy”, 0 a “Sell”, and 5 a ”Hold”. This means that 67% of the ratings are positive. The highest target price is $130 while the lowest target price is $67. The mean of all analyst targets is $96.73 with a 36.01% above today’s ($72.15) stock price. Mallinckrodt was the topic of 17 analyst reports since August 5, 2015 according to the firm StockzIntelligence Inc. Morgan Stanley upgraded shares on December 3 to “Overweight” rating. BMO Capital Markets maintained shares with “Market Perform” rating and $106.0 target share price in a report from a September 4. Barclays Capital maintained MNK stock in a recent report from October 13 with “Overweight” rating. JP Morgan downgraded the rating on August 5. JP Morgan has a “Neutral” rating and a $120 price target on shares. Finally, Nomura initiated the stock with “Neutral” rating in a report issued on a September 29.
The stock closed the day at $72.15 during the previous session. It is down 38.54% since May 6, 2015 and is downtrending. It has underperformed by 37.74% the S&P500.
The overall sentiment of institutions has decreased to 0.78 in Q2 2015. Its down 0.52, from 1.3 in 2015Q2. The ratio is negative, as 120 institutions have sold all the shares of Mallinckrodt PLC that they owned while 155 funds have taken shares off the table. 53 funds have purchased shares for the first time while 161 added to their positions. These institutions now hold 97.18 million shares or 8.46% less than the 106.16 million shares they owned in 2015Q2.
The Fund Broadwood Capital Inc currently is holding shares equating to 20.39% of its total portfolio in Mallinckrodt PLC representing a total of 1.62 million shares. Another fund,North Tide Capital Llc, is holding a total of 1.00 million shares equating to 5.57% of their holdings. Additionally, March Altus Capital Management Lp has a 12,769 share stake in Mallinckrodt PLC which represents 4.81% of their total portfolio. The Fund, Ghost Tree Capital Llc, based out of New York, has also built up a stake in the stock, which represents a total of 3.45% of their total portfolio. Finally Endurant Capital Management Lp, a fund which is based in the state of California reported a total holdings of 159,009 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 17, 2015, shareholders of Mallinckrodt PLC have witnessed 1 buying transaction, and a total of 0 sales equating to a net activity of approximately $19,062 . Lannum Coleman N Iii bought 300 shares worth approximately $19,062. Harbaugh Matthew K sold 22,106 shares worth approximately $2.84 million. Edwards Peter G sold 25,778 shares worth approximately $3.30 million. Saltarelli Mario D. sold 4,580 shares worth approximately $583,675. The company insider Bailey Don M sold 51,417 shares worth $6.30M.
Mallinckrodt public limited company is a global specialty pharmaceuticals company. The company has a market cap of $8.37 billion. The Firm develops, makes, markets and distributes both branded and generic specialty pharmaceuticals, active pharmaceutical ingredients (API) and diagnostic imaging agents. It has 27.75 P/E ratio. The Firm uses its API products in the manufacture of its generic pharmaceuticals and also sells them to other pharmaceutical companies.
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.” Get a free copy of the Zacks research report on Mallinckrodt PLC (MNK).