Canaccord Genuity set a $24.00 price objective on Mallinckrodt (NYSE:MNK) in a research note released on Sunday, January 7th. The firm currently has a hold rating on the stock.
A number of other research analysts also recently issued reports on the stock. Piper Jaffray Companies set a $67.00 target price on shares of Mallinckrodt and gave the company a buy rating in a research report on Saturday, October 21st. Zacks Investment Research upgraded shares of Mallinckrodt from a sell rating to a hold rating in a research report on Tuesday, October 31st. Goldman Sachs Group started coverage on shares of Mallinckrodt in a research report on Thursday, September 28th. They set a buy rating and a $55.00 target price on the stock. Stifel Nicolaus restated a buy rating on shares of Mallinckrodt in a research report on Friday, October 6th. Finally, Wells Fargo & Co downgraded shares of Mallinckrodt from an outperform rating to a market perform rating in a research report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company. Mallinckrodt currently has an average rating of Hold and an average price target of $43.25.
Mallinckrodt (NYSE:MNK) opened at $18.15 on Friday. The stock has a market cap of $1,720.00, a PE ratio of -907.50, a P/E/G ratio of 0.34 and a beta of 1.30. The company has a current ratio of 1.38, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08. Mallinckrodt has a 52-week low of $17.46 and a 52-week high of $55.32.
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 Thomson Reuters’ 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 business had revenue of $793.90 million for the quarter, compared to the consensus estimate of $808.93 million. During the same quarter in the prior year, the company earned $2.04 EPS. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. analysts forecast that Mallinckrodt will post 7.2 earnings per share for the current year.
In other Mallinckrodt news, VP Steven J. Romano purchased 2,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was bought at an average cost of $21.96 per share, with a total value of $43,920.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Dr Kneeland Youngblood bought 4,560 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was purchased at an average cost of $21.94 per share, with a total value of $100,046.40. Following the completion of the purchase, the director now directly owns 19,789 shares of the company’s stock, valued at approximately $434,170.66. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 30,460 shares of company stock valued at $659,486. 0.77% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in MNK. State of Alaska Department of Revenue bought a new position in shares of Mallinckrodt in the fourth quarter valued at $129,000. Sterling Capital Management LLC bought a new position in shares of Mallinckrodt in the second quarter valued at $204,000. Shelton Capital Management bought a new position in shares of Mallinckrodt in the third quarter valued at $205,000. CIBC World Markets Inc. bought a new position in shares of Mallinckrodt in the fourth quarter valued at $231,000. Finally, Cubist Systematic Strategies LLC grew its stake in shares of 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 buying an additional 7,047 shares in the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.
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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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