Mallinckrodt PLC (MNK) Receives $39.52 Average PT from Brokerages

Mallinckrodt PLC (NYSE:MNK) has been assigned an average recommendation of “Hold” from the twenty-two research firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $39.52.

A number of analysts recently issued reports on the stock. Zacks Investment Research raised shares of Mallinckrodt from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. Canaccord Genuity set a $24.00 price target on shares of Mallinckrodt and gave the stock a “hold” rating in a report on Tuesday, December 26th. Goldman Sachs Group reissued a “hold” rating on shares of Mallinckrodt in a report on Monday, January 1st. Deutsche Bank downgraded shares of Mallinckrodt from a “buy” rating to a “hold” rating and lowered their price target for the stock from $44.00 to $28.00 in a report on Tuesday, November 7th. Finally, Wells Fargo & Co reissued a “hold” rating on shares of Mallinckrodt in a report on Tuesday, December 26th.

Shares of Mallinckrodt (NYSE:MNK) traded up $0.06 during midday trading on Wednesday, reaching $16.80. 2,212,900 shares of the company were exchanged, compared to its average volume of 2,904,479. Mallinckrodt has a 12-month low of $15.27 and a 12-month high of $55.32. The stock has a market capitalization of $1,600.00, a P/E ratio of -840.00, a PEG ratio of 0.32 and a beta of 1.04. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.38 and a quick ratio of 1.05.

In related news, Director Dr Kneeland Youngblood acquired 4,560 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were acquired at an average cost of $21.94 per share, with a total value of $100,046.40. Following the completion of the acquisition, the director now directly owns 19,789 shares in the company, valued at approximately $434,170.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.53% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of MNK. Fox Run Management L.L.C. purchased a new position in shares of Mallinckrodt in the fourth quarter worth about $1,064,000. Schwab Charles Investment Management Inc. lifted its stake in shares of Mallinckrodt by 6.9% in the third quarter. Schwab Charles Investment Management Inc. now owns 433,563 shares of the company’s stock worth $16,203,000 after buying an additional 27,908 shares in the last quarter. LMR Partners LLP purchased a new position in shares of Mallinckrodt in the fourth quarter worth about $2,630,000. American International Group Inc. lifted its stake in shares of Mallinckrodt by 464.6% in the third quarter. American International Group Inc. now owns 198,807 shares of the company’s stock worth $7,429,000 after buying an additional 163,596 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in shares of Mallinckrodt by 2.1% in the second quarter. Lord Abbett & CO. LLC now owns 610,870 shares of the company’s stock worth $27,373,000 after buying an additional 12,700 shares in the last quarter. 97.38% of the stock is currently 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.

Analyst Recommendations for Mallinckrodt (NYSE:MNK)

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