Mallinckrodt PLC (MNK) is Reiterated by Deutsche Bank to Buy, Lowers Price Target to $ 84

Mallinckrodt PLC (MNK) was Reiterated by Deutsche Bank to “Buy” while Lowering the Price Target of the company shares to $ 84 from a previous price target of $87 . Deutsche Bank advised their investors in a research report released on Aug 31, 2016.

Many Wall Street Analysts have commented on Mallinckrodt PLC. Company shares were Reiterated by Piper Jaffray on Aug 24, 2016 to “Overweight”, Firm has raised the Price Target to $ 112 from a previous price target of $103 .Stifel Initiated Mallinckrodt PLC on Aug 12, 2016 to “Buy”, Price Target of the shares are set at $95.Company shares were Reiterated by Mizuho on Aug 3, 2016 to “Buy”, Firm has raised the Price Target to $ 91 from a previous price target of $83 .

On the company’s financial health, Mallinckrodt PLC reported $2.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $2.01. The company had revenue of $970.60 million for the quarter, compared to analysts expectations of $921.82 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.05 EPS.

Mallinckrodt PLC closed down -0.72 points or -0.96% at $74.2 with 16,51,580 shares getting traded on Monday. Post opening the session at $74.95, the shares hit an intraday low of $73.16 and an intraday high of $74.95 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on May 11, 2016, Matthew K Harbaugh (CFO) purchased 500 shares at $59.37 per share price. According to the SEC, on May 10, 2016, Hugh M. O’neill (Sr. VP & Pres, ARD) purchased 1,653 shares at $60.99 per share price. On May 9, 2016, Steven J. Romano (Sr. VP & Chief Scientific Ofcr) purchased 900 shares at $56.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Mallinckrodt public limited company (Mallinckrodt) is a global specialty pharmaceuticals company. The Company develops manufactures markets and distributes both branded and generic specialty pharmaceuticals active pharmaceutical ingredients (API) and diagnostic imaging agents. The Company uses its API products in the manufacture of its generic pharmaceuticals and also sells them to other pharmaceutical companies. The Company operates through two segments: Specialty Pharmaceuticals and Global Medical Imaging. The Company’s Specialty Pharmaceuticals segment develops manufactures and sells through its Brands business drugs including EXALGO (hydromorphone HCl) Extended-Release Tablets and GABLOFEN. The Company’s Global Medical Imaging segment develops manufactures and markets contrast media and delivery systems (CMDS). The Company offers INOMAX Total Care (inhaled nitric oxide) a neonatal critical care product.

Mallinckrodt PLC

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