Mallinckrodt PLC (MNK) is Reiterated by Mizuho to Buy, Raises Price Target to $ 83

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 $ 83 from a previous price target of $80 . Mizuho advised their investors in a research report released on Jul 21, 2016.

Many Wall Street Analysts have commented on Mallinckrodt PLC. Goldman Initiated Mallinckrodt PLC on Jun 6, 2016 to “Neutral”, Price Target of the shares are set at $73.Company shares were Reiterated by Mizuho on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 80 from a previous price target of $78 .

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 opened for trading at $62.61 and hit $67.19 on the upside on Wednesday, eventually ending the session at $66.82, with a gain of 7.50% or 4.66 points. The heightened volatility saw the trading volume jump to 18,93,106 shares. Company has a market cap of $7,305 M.

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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