MNK has been the subject of several other reports. Zacks Investment Research cut shares of Mallinckrodt from a hold rating to a sell rating in a research report on Tuesday, October 17th. UBS Group restated a buy rating and issued a $70.00 target price on shares of Mallinckrodt in a research report on Wednesday, September 6th. Cantor Fitzgerald restated a buy rating and issued a $52.00 target price on shares of Mallinckrodt in a research report on Thursday, November 2nd. Deutsche Bank restated a buy rating and issued a $45.00 target price (down from $56.00) on shares of Mallinckrodt in a research report on Thursday, September 14th. Finally, Goldman Sachs Group initiated coverage on shares of Mallinckrodt in a research report on Thursday, September 28th. They issued a buy rating and a $55.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $45.94.
Shares of Mallinckrodt (NYSE:MNK) traded down $0.01 during trading hours on Monday, hitting $23.51. 2,259,300 shares of the stock traded hands, compared to its average volume of 2,906,400. The firm has a market cap of $2,220.00, a PE ratio of -1,175.50, a PEG ratio of 0.45 and a beta of 1.30. The company has a quick ratio of 1.05, a current ratio of 1.38 and a debt-to-equity ratio of 1.08. Mallinckrodt has a one year low of $19.00 and a one year high of $55.32.
Mallinckrodt (NYSE:MNK) last issued its earnings results on Tuesday, November 7th. The company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.80 by $0.17. The company had revenue of $793.90 million during the quarter, compared to analysts’ expectations of $808.93 million. Mallinckrodt had a net margin of 11.43% and a return on equity of 14.79%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.04 EPS. sell-side analysts forecast that Mallinckrodt will post 7.21 EPS for the current fiscal year.
In other Mallinckrodt news, VP Steven J. Romano bought 2,000 shares of Mallinckrodt stock in a transaction on Monday, November 13th. The shares were purchased at an average cost of $21.96 per share, with a total value of $43,920.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dr Kneeland Youngblood bought 4,560 shares of Mallinckrodt stock in a transaction on Tuesday, November 28th. The shares were acquired at an average cost of $21.94 per share, for a total transaction of $100,046.40. Following the completion of the acquisition, the director now directly owns 19,789 shares in the company, valued at $434,170.66. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 30,460 shares of company stock valued at $659,486. 0.77% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of MNK. Sterling Capital Management LLC bought a new stake in shares of Mallinckrodt in the 2nd quarter valued at $204,000. Shelton Capital Management bought a new position in Mallinckrodt during the third quarter worth $205,000. OMERS ADMINISTRATION Corp bought a new position in Mallinckrodt during the second quarter worth $260,000. Cubist Systematic Strategies LLC boosted its stake in Mallinckrodt by 748.1% during the third quarter. Cubist Systematic Strategies LLC now owns 7,989 shares of the company’s stock worth $299,000 after acquiring an additional 7,047 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in Mallinckrodt by 69.8% during the third quarter. Pinnacle Associates Ltd. now owns 8,025 shares of the company’s stock worth $300,000 after acquiring an additional 3,300 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.
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Mallinckrodt public limited company develops, manufactures, markets and distributes branded and generic specialty pharmaceutical products and therapies. The Company focuses on various therapeutic areas, such as autoimmune and rare disease specialty areas, including neurology, rheumatology, nephrology, ophthalmology and pulmonology; immunotherapy and neonatal critical care respiratory therapies; analgesics and hemostasis products, and central nervous system drugs.
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