BMO Capital Initiates Coverage on Mallinckrodt PLC to Outperform

BMO Capital Initiates Coverage on Mallinckrodt PLC(NYSE:MNK). The shares have been rated Outperform. The rating by BMO Capital was issued on Jun 29, 2016.

In a different note, Goldman Sachs said it Initiates Coverage on Mallinckrodt PLC, according to a research note issued on Jun 6, 2016. The shares have been rated ‘Neutral’ by the firm. On May 4, 2016, JP Morgan said it Maintains its rating on Mallinckrodt PLC. In the research note, the firm Lowers the price-target to $100.00 per share. The shares have been rated ‘Neutral’ by the firm. On May 3, 2016, Piper Jaffray said it Maintains its rating on Mallinckrodt PLC. In the research note, the firm Raises the price-target to $97.00 per share. The shares have been rated ‘Overweight’ by the firm.

Mallinckrodt PLC (MNK) made into the market gainers list on Fridays trading session with the shares advancing 1.74% or 1.06 points. Due to strong positive momentum, the stock ended at $61.84, which is also near the day’s high of $62.43. The stock began the session at $60.96 and the volume stood at 11,77,339 shares. The 52-week high of the shares is $127 and the 52 week low is $50.9. The company has a current market capitalization of $6,761 M and it has 10,93,25,511 shares in outstanding.

Mallinckrodt PLC(MNK) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $918.00M. Analysts had an estimated revenue of $874.01M. Earnings per share were $2.01. Analysts had estimated an EPS of $1.73.

Several Insider Transactions has been reported to the SEC. On May 11, 2016, Matthew K Harbaugh (CFO) purchased 500 shares at $59.37 per share price.Also, 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.

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