Leerink Swann began coverage on shares of Mallinckrodt (NYSE:MNK) in a research note issued to investors on Tuesday, January 2nd, Marketbeat Ratings reports. The brokerage issued a market perform rating and a $26.00 price objective on the stock. Leerink Swann also issued estimates for Mallinckrodt’s Q4 2017 earnings at $1.70 EPS, FY2017 earnings at $7.20 EPS, Q1 2018 earnings at $1.39 EPS, Q2 2018 earnings at $1.79 EPS, Q3 2018 earnings at $1.99 EPS, Q4 2018 earnings at $2.03 EPS, FY2018 earnings at $7.20 EPS, FY2019 earnings at $7.35 EPS, FY2020 earnings at $7.50 EPS, FY2021 earnings at $6.82 EPS and FY2022 earnings at $7.18 EPS.
Other equities analysts have also issued reports about the stock. Morgan Stanley lowered shares of Mallinckrodt from an overweight rating to an equal weight rating and reduced their target price for the stock from $65.00 to $40.00 in a research note on Wednesday, September 6th. Stifel Nicolaus restated a buy rating and set a $85.00 price objective on shares of Mallinckrodt in a research note on Wednesday, September 6th. Zacks Investment Research upgraded shares of Mallinckrodt from a sell rating to a hold rating in a research note on Tuesday, October 31st. Canaccord Genuity set a $24.00 price objective on shares of Mallinckrodt and gave the stock a hold rating in a research note on Tuesday, November 14th. Finally, Cantor Fitzgerald set a $42.00 target price on shares of Mallinckrodt and gave the company a buy rating in a research note on Tuesday, December 26th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $44.99.
Mallinckrodt (NYSE MNK) traded up $0.60 during mid-day trading on Tuesday, reaching $23.50. 2,490,375 shares of the company traded hands, compared to its average volume of 2,620,872. 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 has a 1 year low of $19.00 and a 1 year high of $55.32. The company has a market cap of $2,175.61, a PE ratio of 6.35, a PEG ratio of 0.43 and a beta of 1.30.
Mallinckrodt (NYSE:MNK) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.17. Mallinckrodt had a net margin of 11.43% and a return on equity of 14.79%. The firm had revenue of $793.90 million during the quarter, compared to analysts’ expectations of $808.93 million. During the same quarter in the previous year, the company posted $2.04 EPS. Mallinckrodt’s revenue was down 10.5% on a year-over-year basis. equities research analysts anticipate that Mallinckrodt will post 7.21 earnings per share for the current year.
In other news, VP Steven J. Romano bought 2,000 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was acquired at an average price of $21.96 per share, with a total value of $43,920.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Michael-Bryant Hicks bought 7,900 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were purchased at an average cost of $20.80 per share, with a total value of $164,320.00. The disclosure for this purchase can be found here. Insiders acquired 30,460 shares of company stock worth $659,486 in the last 90 days. Company insiders own 0.77% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Shelton Capital Management bought a new stake in Mallinckrodt in the third quarter valued at $205,000. Ameritas Investment Partners Inc. increased its stake in Mallinckrodt by 1,051.7% in the third quarter. Ameritas Investment Partners Inc. now owns 29,655 shares of the company’s stock valued at $1,218,000 after purchasing an additional 27,080 shares in the last quarter. California Public Employees Retirement System increased its stake in Mallinckrodt by 11.4% in the third quarter. California Public Employees Retirement System now owns 263,970 shares of the company’s stock valued at $9,865,000 after purchasing an additional 26,970 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Mallinckrodt by 15.5% in the third quarter. Janney Montgomery Scott LLC now owns 32,611 shares of the company’s stock valued at $1,219,000 after purchasing an additional 4,369 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in Mallinckrodt by 748.1% in the third quarter. Cubist Systematic Strategies LLC now owns 7,989 shares of the company’s stock valued at $299,000 after purchasing an additional 7,047 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.
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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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