Mallinckrodt (MNK): Details on Stratatech Acquisition - Mizuho
- Wall Street dips on Trump protectionism, Qualcomm drag
- Yahoo! (YHOO) Tops Q4 EPS by 4c; Sees Verizon Deal Closing in Q2, Not Q1
- Aetna's (AET) Humana (HUM) Takeover Blocked by Judge as Anticompetative
- Trump signs order withdrawing U.S. from Trans-Pacific trade deal
- After-Hours Stock Movers 1/23: (REXX) (MRCY) (SYNC) Higher; (FSM) (OCUL) (CASC) Lower (more...)
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Mizuho Securities analyst, Irina Koffler, reiterated her Buy rating on shares of Mallinckrodt plc (NYSE: MNK ) after Mallinckrodt acquired Stratatech, a private company focused on regenerative medicine to create skin substitutes. The financials terms of the deal were not released, but it is expected to close in 2H:CY16.
The management indicated the deal would be slightly dilutive to MNK through higher OpEx but it did not lower guidance, noting the strength in the core business should compensate for any dilution. Given the early stage of this program and the lack of financial details, we are not updating our model for now. However, the company is investing in an innovative biologic platform that is a strong strategic fit for its hospital sales force, and could generate a number of other pipeline indications.
No change to the price target of $91.00
Shares of Mallinckrodt plc closed at $78.77 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Procter & Gamble (PG) PT Raised to $96 at UBS Following 2Q Report
- Aegis Capital Assumes Concert Pharmaceuticals (CNCE) at Buy
- UPDATE: Seaport Global Securities Upgrades Columbus McKinnon (CMCO) to Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Mergers and Acquisitions
Related EntitiesIrina Koffler
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!