Several other research firms have also recently weighed in on MNK. B. Riley increased their price objective on Mallinckrodt from $20.00 to $37.00 and gave the company a neutral rating in a research report on Friday, August 24th. Zacks Investment Research raised Mallinckrodt from a hold rating to a buy rating and set a $40.00 target price for the company in a research report on Monday, August 27th. Wells Fargo & Co reaffirmed a hold rating on shares of Mallinckrodt in a research report on Wednesday, August 22nd. Canaccord Genuity set a $34.00 target price on Mallinckrodt and gave the stock a hold rating in a research report on Sunday, August 19th. Finally, Morgan Stanley raised their target price on Mallinckrodt from $14.00 to $35.00 and gave the stock an equal weight rating in a research report on Friday, August 17th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $33.56.
Shares of MNK traded down $0.77 during mid-day trading on Friday, hitting $20.76. The company’s stock had a trading volume of 3,625,886 shares, compared to its average volume of 2,398,465. Mallinckrodt has a one year low of $11.65 and a one year high of $36.65. The company has a current ratio of 2.21, a quick ratio of 2.05 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 2.77, a P/E/G ratio of 0.28 and a beta of 1.61.
Mallinckrodt (NYSE:MNK) last posted its quarterly earnings data on Tuesday, November 6th. The company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.31. Mallinckrodt had a return on equity of 9.60% and a net margin of 65.24%. The company had revenue of $640.00 million during the quarter, compared to analysts’ expectations of $634.38 million. During the same period in the prior year, the business earned $1.97 earnings per share. Mallinckrodt’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities analysts predict that Mallinckrodt will post 7.09 EPS for the current year.
A number of hedge funds have recently modified their holdings of the stock. Bank of Montreal Can raised its stake in Mallinckrodt by 209.3% during the second quarter. Bank of Montreal Can now owns 63,822 shares of the company’s stock worth $1,189,000 after acquiring an additional 43,190 shares in the last quarter. Aperio Group LLC raised its stake in Mallinckrodt by 128.1% during the second quarter. Aperio Group LLC now owns 196,129 shares of the company’s stock worth $3,660,000 after acquiring an additional 110,146 shares in the last quarter. First Trust Advisors LP raised its stake in Mallinckrodt by 57.1% during the second quarter. First Trust Advisors LP now owns 1,549,962 shares of the company’s stock worth $28,922,000 after acquiring an additional 563,419 shares in the last quarter. State of Wisconsin Investment Board raised its stake in Mallinckrodt by 340.0% during the second quarter. State of Wisconsin Investment Board now owns 83,900 shares of the company’s stock worth $1,566,000 after acquiring an additional 64,830 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Mallinckrodt during the second quarter worth $418,000.
Mallinckrodt public limited company develops, manufactures, markets, and distributes branded pharmaceutical products in Canada and the European Union, as well as in Latin American, the Middle Eastern, African, and the Asia-Pacific regions. The company markets branded pharmaceutical products for autoimmune and rare diseases in the specialty areas of neurology, rheumatology, nephrology, ophthalmology, and pulmonology; and immunotherapy and neonatal respiratory critical care therapies, as well as analgesics and gastrointestinal products.
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