Mallinckrodt PLC (MNK) is Reiterated by Mizuho to Buy, Raises Price Target to $ 80

Mallinckrodt PLC (MNK) was Reiterated by Mizuho to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 80 from a previous price target of $78 . Mizuho advised their investors in a research report released on May 4, 2016.

Many Wall Street Analysts have commented on Mallinckrodt PLC. Mallinckrodt PLC was Initiated by Wells Fargo to “Outperform” on Feb 19, 2016.

On the company’s financial health, Mallinckrodt PLC reported $2.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.29 according to the earnings call on May 3, 2016. Analyst had a consensus of $1.72. The company had revenue of $918.00 million for the quarter, compared to analysts expectations of $871.53 million. The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.72 EPS.

Mallinckrodt PLC closed down -1.81 points or -2.90% at $60.71 with 31,94,608 shares getting traded on Monday. Post opening the session at $62.44, the shares hit an intraday low of $59.97 and an intraday high of $62.96 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Mar 8, 2016, Coleman N Iii Lannum (Sr.VP, Investor Strategy & IRO) purchased 2,600 shares at $62.63 per share price. According to the SEC, on Mar 1, 2016, Meredith B Fischer (Sr. VP, Comm & Public Affairs) purchased 1,400 shares at $69.91 per share price. On Feb 10, 2016, Matthew K Harbaugh (CFO) purchased 1,300 shares at $63.00 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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