Trading Report: Today, Mizuho Cuts Mallinckrodt PLC (MNK) Price Target to $87.00

Today, Mizuho Cuts Mallinckrodt PLC (MNK) Price Target to $87.00

Mallinckrodt PLC (NYSE:MNK) had its target price lowered by Mizuho to $87.00 in a report issued on Friday. Mizuho’s price target would indicate a potential upside of 52.98% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Deutsche Bank AG reiterated a “buy” rating and set a $78.00 price objective on shares of Mallinckrodt PLC in a research note on Monday. Leerink Swann restated an “outperform” rating and issued a $92.00 price target on shares of Mallinckrodt PLC in a research report on Saturday, November 19th. Raymond James Financial Inc. began coverage on shares of Mallinckrodt PLC in a research report on Friday, November 18th. They issued an “outperform” rating and a $72.00 price target on the stock. Zacks Investment Research upgraded shares of Mallinckrodt PLC from a “sell” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Tuesday, November 8th. Finally, TheStreet downgraded shares of Mallinckrodt PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, November 1st. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $89.44.

Shares of Mallinckrodt PLC (NYSE:MNK) opened at 56.87 on Friday. The stock has a market cap of $6.13 billion, a P/E ratio of 10.72 and a beta of 1.62. The company’s 50-day moving average is $62.48 and its 200-day moving average is $66.50. Mallinckrodt PLC has a 12-month low of $50.90 and a 12-month high of $85.83.

Institutional investors have recently added to or reduced their stakes in the stock. Laurel Wealth Advisors Inc. boosted its position in Mallinckrodt PLC by 0.5% in the second quarter. Laurel Wealth Advisors Inc. now owns 3,427 shares of the company’s stock valued at $208,000 after buying an additional 16 shares during the last quarter. Norinchukin Bank The boosted its position in Mallinckrodt PLC by 0.6% in the third quarter. Norinchukin Bank The now owns 5,767 shares of the company’s stock valued at $402,000 after buying an additional 33 shares during the last quarter. NEXT Financial Group Inc boosted its position in Mallinckrodt PLC by 5.2% in the third quarter. NEXT Financial Group Inc now owns 1,676 shares of the company’s stock valued at $117,000 after buying an additional 83 shares during the last quarter. Suntrust Banks Inc. boosted its position in Mallinckrodt PLC by 0.3% in the third quarter. Suntrust Banks Inc. now owns 31,844 shares of the company’s stock valued at $2,219,000 after buying an additional 88 shares during the last quarter. Finally, Turner Investments L.P. boosted its position in Mallinckrodt PLC by 0.5% in the second quarter. Turner Investments L.P. now owns 19,420 shares of the company’s stock valued at $1,180,000 after buying an additional 100 shares during the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Mallinckrodt PLC Company Profile

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