A number of other equities research analysts have also recently commented on the stock. Canaccord Genuity reduced their price target on shares of Mallinckrodt from $37.00 to $22.00 and set a buy rating for the company in a report on Friday, June 14th. SunTrust Banks reduced their price target on shares of Mallinckrodt to $7.00 and set a positive rating for the company in a report on Monday, August 12th. Wells Fargo & Co reduced their price target on shares of Mallinckrodt from $25.00 to $11.00 and set a market perform rating for the company in a report on Thursday, June 6th. Leerink Swann set a $2.00 price target on shares of Mallinckrodt and gave the stock a hold rating in a report on Friday, September 6th. Finally, Piper Jaffray Companies cut shares of Mallinckrodt from an overweight rating to a neutral rating and reduced their price target for the stock from $39.00 to $9.00 in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Mallinckrodt has an average rating of Hold and an average price target of $10.19.
MNK stock traded up $0.09 during trading on Tuesday, reaching $3.08. 118,912 shares of the stock traded hands, compared to its average volume of 11,905,633. The business’s 50 day moving average price is $4.57 and its 200-day moving average price is $12.66. Mallinckrodt has a 52-week low of $1.43 and a 52-week high of $32.50. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.78 and a quick ratio of 0.57. The firm has a market capitalization of $325.95 million, a PE ratio of 0.39, a P/E/G ratio of 0.04 and a beta of 2.42.
Mallinckrodt (NYSE:MNK) last issued its earnings results on Tuesday, August 6th. The company reported $2.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.10 by $0.43. Mallinckrodt had a positive return on equity of 18.96% and a negative net margin of 111.46%. The company had revenue of $823.30 million during the quarter, compared to the consensus estimate of $817.55 million. During the same quarter in the prior year, the business earned $2.16 earnings per share. The company’s revenue was down .3% compared to the same quarter last year. On average, equities research analysts predict that Mallinckrodt will post 8.48 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of MNK. Morgan Stanley raised its position in shares of Mallinckrodt by 1,395.5% in the second quarter. Morgan Stanley now owns 3,275,676 shares of the company’s stock valued at $30,071,000 after purchasing an additional 3,056,636 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in Mallinckrodt in the 1st quarter worth approximately $47,464,000. Vanguard Group Inc. grew its stake in Mallinckrodt by 18.4% in the 2nd quarter. Vanguard Group Inc. now owns 9,809,305 shares of the company’s stock worth $90,049,000 after buying an additional 1,527,591 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Mallinckrodt by 128.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,794,821 shares of the company’s stock worth $16,476,000 after buying an additional 1,009,745 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Mallinckrodt by 15.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,357,117 shares of the company’s stock worth $100,443,000 after buying an additional 840,414 shares in the last quarter.
Mallinckrodt plc, together with its subsidiaries, develops, manufactures, markets, and distributes specialty pharmaceutical products and therapies in the United States, Europe, the Middle East, Africa, and internationally. It operates in two segments, Specialty Brands, and Specialty Generics and Amitiza.
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