Several other research firms also recently commented on MNK. Cantor Fitzgerald reaffirmed a buy rating and issued a $42.00 price objective on shares of Mallinckrodt in a report on Tuesday, August 7th. Piper Jaffray Companies reaffirmed a buy rating and issued a $39.00 price objective on shares of Mallinckrodt in a report on Wednesday. Stifel Nicolaus raised their price objective on shares of Mallinckrodt from $18.00 to $30.00 and gave the stock a hold rating in a report on Wednesday. Raymond James downgraded shares of Mallinckrodt from an outperform rating to a market perform rating and set a $58.00 price objective for the company. in a report on Wednesday. They noted that the move was a valuation call. Finally, BMO Capital Markets reaffirmed an outperform rating and issued a $37.00 price objective on shares of Mallinckrodt in a report on Tuesday, August 7th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $30.95.
Mallinckrodt traded up $0.40, hitting $31.10, on Wednesday, according to Marketbeat. The company’s stock had a trading volume of 4,116,910 shares, compared to its average volume of 3,390,203. The company has a market cap of $2.55 billion, a PE ratio of 4.15, a price-to-earnings-growth ratio of 0.48 and a beta of 1.36. Mallinckrodt has a 12 month low of $11.65 and a 12 month high of $41.70. The company has a current ratio of 2.27, a quick ratio of 1.90 and a debt-to-equity ratio of 0.98.
Mallinckrodt (NYSE:MNK) last released its quarterly earnings data on Tuesday, August 7th. The company reported $1.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.30. The company had revenue of $631.70 million during the quarter, compared to the consensus estimate of $621.15 million. Mallinckrodt had a net margin of 59.85% and a return on equity of 10.39%. research analysts forecast that Mallinckrodt will post 6.67 earnings per share for the current fiscal year.
In other news, insider Mark Trudeau purchased 3,000 shares of the business’s stock in a transaction on Wednesday, May 16th. The stock was purchased at an average cost of $15.54 per share, with a total value of $46,620.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 1.80% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the business. Victory Capital Management Inc. bought a new stake in shares of Mallinckrodt during the 1st quarter worth $104,000. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Mallinckrodt by 11,188.0% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 10,385 shares of the company’s stock worth $150,000 after acquiring an additional 10,293 shares during the last quarter. Virginia Retirement Systems ET AL bought a new stake in shares of Mallinckrodt during the 1st quarter worth $175,000. Financial Gravity Wealth Inc. bought a new stake in shares of Mallinckrodt during the 1st quarter worth $182,000. Finally, Advisors Preferred LLC lifted its holdings in shares of Mallinckrodt by 493.9% during the 2nd quarter. Advisors Preferred LLC now owns 10,512 shares of the company’s stock worth $196,000 after acquiring an additional 8,742 shares during the last quarter.
Mallinckrodt Company Profile
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.
Further Reading: Price to Earnings Ratio (PE)
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