Wells Fargo set a $18.00 price target on Mallinckrodt (NYSE:MNK) in a research note issued to investors on Friday, March 16th. The firm currently has a hold rating on the stock.
MNK has been the subject of a number of other reports. Leerink Swann began coverage on shares of Mallinckrodt in a research note on Tuesday, January 2nd. They issued a market perform rating and a $26.00 target price for the company. Cantor Fitzgerald set a $42.00 target price on shares of Mallinckrodt and gave the stock a buy rating in a research note on Monday, January 8th. Canaccord Genuity set a $24.00 target price on shares of Mallinckrodt and gave the stock a hold rating in a research note on Monday, January 1st. ValuEngine cut shares of Mallinckrodt from a buy rating to a hold rating in a research report on Sunday, December 31st. Finally, UBS cut shares of Mallinckrodt from a buy rating to a neutral rating and cut their price target for the stock from $70.00 to $24.00 in a research report on Sunday, November 26th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $35.00.
Shares of Mallinckrodt stock traded down $0.37 on Friday, hitting $14.48. 1,872,761 shares of the company’s stock traded hands, compared to its average volume of 3,097,021. Mallinckrodt has a one year low of $13.64 and a one year high of $49.12. The stock has a market capitalization of $1,250.35, a price-to-earnings ratio of 1.93, a PEG ratio of 0.36 and a beta of 1.12. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.85 and a current ratio of 2.18.
Mallinckrodt (NYSE:MNK) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.29. Mallinckrodt had a net margin of 66.25% and a return on equity of 13.43%. The company had revenue of $792.30 million during the quarter, compared to analyst estimates of $769.91 million. During the same quarter in the previous year, the business earned $1.91 EPS. The firm’s revenue was down 4.5% on a year-over-year basis. research analysts forecast that Mallinckrodt will post 6.2 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in MNK. Two Sigma Investments LP bought a new position in Mallinckrodt in the 4th quarter valued at about $30,841,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Mallinckrodt during the 4th quarter worth approximately $30,563,000. Schroder Investment Management Group boosted its position in shares of Mallinckrodt by 5,506.0% during the 4th quarter. Schroder Investment Management Group now owns 1,121,200 shares of the company’s stock worth $25,294,000 after acquiring an additional 1,101,200 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Mallinckrodt during the 4th quarter worth approximately $24,007,000. Finally, LSV Asset Management boosted its position in shares of Mallinckrodt by 24.8% during the 4th quarter. LSV Asset Management now owns 2,621,917 shares of the company’s stock worth $59,150,000 after acquiring an additional 520,697 shares in the last quarter. 97.38% of the stock is currently 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 pharmaceutical products in Canada and the European Union, as well as in Latin American, the Middle Eastern, African, and the Asia-Pacific regions. The company markets branded pharmaceutical products for autoimmune and rare diseases in the specialty areas of neurology, rheumatology, nephrology, ophthalmology, and pulmonology; and immunotherapy and neonatal respiratory critical care therapies, as well as analgesics and gastrointestinal products.
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