Canaccord Genuity set a $24.00 target price on Mallinckrodt (NYSE:MNK) in a research note released on Sunday morning. The firm currently has a hold rating on the stock.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Mallinckrodt from a sell rating to a hold rating in a research report on Tuesday, October 31st. Cantor Fitzgerald set a $42.00 price target on shares of Mallinckrodt and gave the stock a buy rating in a research report on Tuesday, December 26th. Wells Fargo & Co restated a hold rating on shares of Mallinckrodt in a research report on Monday, January 1st. Oppenheimer dropped their price target on shares of Mallinckrodt from $70.00 to $48.00 in a research report on Tuesday, September 19th. Finally, Leerink Swann assumed coverage on shares of Mallinckrodt in a research report on Tuesday, January 2nd. They issued a market perform rating and a $26.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $44.99.
Shares of Mallinckrodt (NYSE:MNK) traded up $0.01 during midday trading on Friday, hitting $22.40. 1,812,400 shares of the stock were exchanged, compared to its average volume of 2,756,133. The firm has a market cap of $2,120.00, a P/E ratio of -1,120.00, a P/E/G ratio of 0.43 and a beta of 1.30. Mallinckrodt has a 1 year low of $19.00 and a 1 year high of $55.32. 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 (NYSE:MNK) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.80 by $0.17. The firm had revenue of $793.90 million for 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 company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.04 EPS. sell-side analysts expect that Mallinckrodt will post 7.21 earnings per share for the current year.
In other Mallinckrodt news, Director David R. Carlucci purchased 10,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was acquired at an average price of $21.83 per share, for a total transaction of $218,300.00. Following the purchase, the director now owns 26,020 shares of the company’s stock, valued at approximately $568,016.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Steven J. Romano purchased 2,000 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were acquired at an average price of $21.96 per share, with a total value of $43,920.00. The disclosure for this purchase can be found here. Insiders bought a total of 30,460 shares of company stock valued at $659,486 in the last quarter. 0.53% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in MNK. HealthCor Management L.P. bought a new stake in Mallinckrodt during the 2nd quarter valued at $107,649,000. Janus Henderson Group PLC boosted its holdings in Mallinckrodt by 6,828.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,396,780 shares of the company’s stock worth $62,590,000 after acquiring an additional 1,376,619 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Mallinckrodt by 117.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,937,444 shares of the company’s stock worth $86,815,000 after acquiring an additional 1,045,757 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Mallinckrodt by 114.9% during the 3rd quarter. Prudential Financial Inc. now owns 1,379,978 shares of the company’s stock worth $51,569,000 after acquiring an additional 737,791 shares during the last quarter. Finally, AJO LP boosted its holdings in Mallinckrodt by 165.6% during the 2nd quarter. AJO LP now owns 927,472 shares of the company’s stock worth $41,560,000 after acquiring an additional 578,266 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.
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Mallinckrodt Company Profile
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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