Other equities analysts have also recently issued reports about the company. Zacks Investment Research upgraded Mallinckrodt from a hold rating to a buy rating and set a $40.00 price target on the stock in a report on Monday, August 27th. Canaccord Genuity set a $34.00 price target on Mallinckrodt and gave the stock a hold rating in a report on Sunday, August 19th. SunTrust Banks increased their price target on Mallinckrodt to $32.00 and gave the stock a positive rating in a report on Monday, August 13th. They noted that the move was a valuation call. Morgan Stanley increased their target price on Mallinckrodt from $14.00 to $35.00 and gave the stock an equal weight rating in a report on Friday, August 17th. Finally, B. Riley increased their target price on Mallinckrodt from $20.00 to $37.00 and gave the stock a neutral rating in a report on Friday, August 24th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $33.56.
Shares of Mallinckrodt stock traded down $0.77 on Friday, reaching $20.76. 3,625,886 shares of the company’s stock were exchanged, compared to its average volume of 2,398,465. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 2.77, a PEG ratio of 0.28 and a beta of 1.61. Mallinckrodt has a 52 week low of $11.65 and a 52 week high of $36.65. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.05 and a current ratio of 2.21.
Mallinckrodt (NYSE:MNK) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.31. The firm had revenue of $640.00 million for the quarter, compared to analysts’ expectations of $634.38 million. Mallinckrodt had a return on equity of 9.60% and a net margin of 65.24%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.97 EPS. On average, equities research analysts forecast that Mallinckrodt will post 7.09 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of MNK. Point72 Hong Kong Ltd raised its position in Mallinckrodt by 84.6% in the 3rd quarter. Point72 Hong Kong Ltd now owns 3,728 shares of the company’s stock valued at $109,000 after buying an additional 1,708 shares during the last quarter. One Wealth Advisors LLC purchased a new stake in Mallinckrodt in the 3rd quarter valued at $173,000. Signaturefd LLC raised its position in Mallinckrodt by 237.6% in the 3rd quarter. Signaturefd LLC now owns 6,346 shares of the company’s stock valued at $186,000 after buying an additional 4,466 shares during the last quarter. Advisors Preferred LLC raised its position in Mallinckrodt by 493.9% in the 2nd quarter. Advisors Preferred LLC now owns 10,512 shares of the company’s stock valued at $196,000 after buying an additional 8,742 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Mallinckrodt by 131.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,863 shares of the company’s stock valued at $201,000 after buying an additional 3,899 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.
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