Mallinckrodt PLC (MNK) is Reiterated by Mizuho to Buy, Lowers Price Target to $ 85

Mallinckrodt PLC (MNK) was Reiterated by Mizuho to “Buy” while Lowering the Price Target of the company shares to $ 85 from a previous price target of $87 . Mizuho advised their investors in a research report released on Nov 30, 2016.

Many Wall Street Analysts have commented on Mallinckrodt PLC. Shares were Reiterated by Mizuho on Nov 23, 2016 to “Buy” and Lowered the Price Target to $ 87 from a previous price target of $89 .Mallinckrodt PLC was Initiated by Raymond James to “Outperform” on Nov 18, 2016. Shares were Reiterated by Mizuho on Sep 29, 2016 to “Buy” and Lowered the Price Target to $ 89 from a previous price target of $91 .

On the company’s financial health, Mallinckrodt PLC reported $2.04 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Nov 29, 2016. Analyst had a consensus of $1.99. The company had revenue of $887.20 million for the quarter, compared to analysts expectations of $875.68 million. The company’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.84 EPS.

Mallinckrodt PLC closed down -5.25 points or -9.10% at $52.42 with 87,71,613 shares getting traded on Tuesday. Post opening the session at $56.99, the shares hit an intraday low of $51.55 and an intraday high of $57.16 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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