Mallinckrodt’s (MNK) Market Perform Rating Reiterated at Oppenheimer

Oppenheimer reaffirmed their market perform rating on shares of Mallinckrodt (NYSE:MNK) in a report issued on Wednesday, November 22nd. Oppenheimer also issued estimates for Mallinckrodt’s FY2017 earnings at $7.04 EPS and Q1 2018 earnings at $1.44 EPS.

Several other equities analysts also recently commented on the stock. Canaccord Genuity set a $24.00 price objective on shares of Mallinckrodt and gave the company a hold rating in a research note on Tuesday, November 14th. UBS downgraded shares of Mallinckrodt from a buy rating to a neutral rating and set a $24.00 price objective for the company. in a research note on Monday, November 13th. Stifel Nicolaus decreased their price target on shares of Mallinckrodt from $70.00 to $50.00 and set a buy rating for the company in a research report on Wednesday, November 8th. Morgan Stanley decreased their price target on shares of Mallinckrodt from $40.00 to $27.00 and set an equal weight rating for the company in a research report on Wednesday, November 8th. Finally, BMO Capital Markets decreased their price target on shares of Mallinckrodt to $38.00 and set an outperform rating for the company in a research report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company’s stock. Mallinckrodt has a consensus rating of Hold and a consensus target price of $48.14.

Shares of Mallinckrodt (MNK) opened at $21.96 on Wednesday. Mallinckrodt has a twelve month low of $19.00 and a twelve month high of $55.32. The company has a current ratio of 1.38, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08. The firm has a market cap of $2,073.01, a P/E ratio of 2.94, a PEG ratio of 0.40 and a beta of 1.30.

Mallinckrodt (NYSE:MNK) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.80 by $0.17. The company had revenue of $793.90 million during the quarter, compared to the consensus estimate of $808.93 million. Mallinckrodt had a net margin of 11.43% and a return on equity of 14.79%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.04 EPS. research analysts forecast that Mallinckrodt will post 7.2 earnings per share for the current year.

In other Mallinckrodt news, CEO Mark Trudeau acquired 5,000 shares of the company’s stock in a transaction on Friday, November 10th. The shares were purchased at an average cost of $22.28 per share, with a total value of $111,400.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Steven J. Romano acquired 2,000 shares of the company’s stock in a transaction on Monday, November 13th. The stock was acquired at an average cost of $21.96 per share, for a total transaction of $43,920.00. The disclosure for this purchase can be found here. Insiders acquired 30,460 shares of company stock valued at $659,486 over the last 90 days. Corporate insiders own 0.53% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in MNK. Sentry Investment Management LLC lifted its position in shares of Mallinckrodt by 1.6% during the second quarter. Sentry Investment Management LLC now owns 52,676 shares of the company’s stock valued at $2,360,000 after purchasing an additional 817 shares in the last quarter. QS Investors LLC lifted its position in shares of Mallinckrodt by 10.8% during the second quarter. QS Investors LLC now owns 9,477 shares of the company’s stock valued at $425,000 after purchasing an additional 923 shares in the last quarter. Accident Compensation Corp lifted its position in shares of Mallinckrodt by 2.7% during the second quarter. Accident Compensation Corp now owns 38,390 shares of the company’s stock valued at $1,720,000 after purchasing an additional 1,000 shares in the last quarter. Rice Hall James & Associates LLC lifted its position in shares of Mallinckrodt by 10.5% during the second quarter. Rice Hall James & Associates LLC now owns 10,702 shares of the company’s stock valued at $480,000 after purchasing an additional 1,019 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its position in shares of Mallinckrodt by 24.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 5,640 shares of the company’s stock valued at $253,000 after purchasing an additional 1,110 shares in the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

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About Mallinckrodt

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.

Analyst Recommendations for Mallinckrodt (NYSE:MNK)

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