Mallinckrodt (NYSE:MNK)‘s stock had its “neutral” rating reaffirmed by stock analysts at Mizuho in a report issued on Tuesday, January 9th, MarketBeat Ratings reports. They currently have a $21.00 price objective on the stock, down from their previous price objective of $22.00. Mizuho’s price objective indicates a potential downside of 1.41% from the stock’s current price.
A number of other equities research analysts have also recently issued reports on the stock. Piper Jaffray Companies set a $67.00 price target on shares of Mallinckrodt and gave the company a “buy” rating in a research note on Saturday, October 21st. Zacks Investment Research raised shares of Mallinckrodt from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Goldman Sachs Group initiated coverage on shares of Mallinckrodt in a research note on Thursday, September 28th. They issued a “buy” rating and a $55.00 price target on the stock. Stifel Nicolaus reissued a “buy” rating on shares of Mallinckrodt in a research note on Friday, October 6th. Finally, Wells Fargo & Co cut shares of Mallinckrodt from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $44.99.
Mallinckrodt (MNK) traded down $0.40 during trading hours on Tuesday, hitting $21.30. 2,034,885 shares of the stock traded hands, compared to its average volume of 2,830,000. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.38. The stock has a market cap of $2,020.00, a price-to-earnings ratio of -1,065.00, a price-to-earnings-growth ratio of 0.41 and a beta of 1.30. Mallinckrodt has a 52-week low of $19.00 and a 52-week high of $55.32.
Mallinckrodt (NYSE:MNK) last posted its earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.17. The firm had revenue of $793.90 million during the quarter, compared to analyst estimates of $808.93 million. Mallinckrodt had a net margin of 11.43% and a return on equity of 14.79%. The business’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.04 EPS. equities research analysts forecast that Mallinckrodt will post 7.2 EPS for the current year.
In other news, Director David R. Carlucci purchased 10,000 shares of the stock in a transaction dated Thursday, November 9th. The shares were purchased at an average price of $21.83 per share, with a total value of $218,300.00. Following the transaction, the director now owns 26,020 shares in the company, valued at approximately $568,016.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Steven J. Romano acquired 2,000 shares of Mallinckrodt stock in a transaction that occurred on Monday, November 13th. The stock was bought at an average price of $21.96 per share, for a total transaction of $43,920.00. The disclosure for this purchase can be found here. In the last three months, insiders have bought 30,460 shares of company stock worth $659,486. Corporate insiders own 0.77% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of MNK. Schwab Charles Investment Management Inc. increased its stake in Mallinckrodt by 9.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 405,655 shares of the company’s stock worth $18,178,000 after purchasing an additional 35,431 shares during the period. Neuberger Berman Group LLC purchased a new stake in Mallinckrodt during the second quarter worth about $2,312,000. Swiss National Bank increased its stake in Mallinckrodt by 1.7% during the second quarter. Swiss National Bank now owns 381,126 shares of the company’s stock worth $17,078,000 after purchasing an additional 6,200 shares during the period. State of Tennessee Treasury Department increased its stake in Mallinckrodt by 42.0% during the second quarter. State of Tennessee Treasury Department now owns 40,502 shares of the company’s stock worth $1,815,000 after purchasing an additional 11,984 shares during the period. Finally, Schroder Investment Management Group increased its stake in Mallinckrodt by 471.4% during the second quarter. Schroder Investment Management Group now owns 20,000 shares of the company’s stock worth $888,000 after purchasing an additional 16,500 shares during the period.
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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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