Mallinckrodt’s (MNK) Hold Rating Reiterated at Mizuho

Mallinckrodt (NYSE:MNK)‘s stock had its “hold” rating reaffirmed by equities researchers at Mizuho in a report issued on Tuesday. They presently have a $27.00 price target on the stock. Mizuho’s price target would suggest a potential downside of 8.91% from the company’s previous close.

The analysts wrote, “We reiterate our Neutral rating into what we view as risky read-outs for VTS-270 in Niemann- Pick Type C, and CPP-1X/Sulindac in FAP.””

MNK has been the topic of several other research reports. Canaccord Genuity reaffirmed a “hold” rating and set a $22.00 price target on shares of Mallinckrodt in a research note on Monday, August 13th. Berenberg Bank initiated coverage on Mallinckrodt in a research note on Friday, September 14th. They set a “sell” rating and a $25.00 price target on the stock. Zacks Investment Research lowered Mallinckrodt from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Mallinckrodt in a research note on Wednesday, August 22nd. Finally, Stifel Nicolaus upped their price target on Mallinckrodt from $18.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, August 8th. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company’s stock. Mallinckrodt presently has a consensus rating of “Hold” and an average price target of $31.90.

Shares of MNK stock traded up $2.48 during trading hours on Tuesday, hitting $29.64. 6,841,201 shares of the company’s stock were exchanged, compared to its average volume of 3,177,416. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.06 and a current ratio of 2.27. Mallinckrodt has a 52 week low of $11.65 and a 52 week high of $36.65. The stock has a market capitalization of $2.22 billion, a PE ratio of 3.96, a PEG ratio of 0.38 and a beta of 1.71.

Mallinckrodt (NYSE:MNK) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.31. Mallinckrodt had a return on equity of 10.39% and a net margin of 59.85%. The business had revenue of $640.00 million for the quarter, compared to analyst estimates of $634.38 million. During the same quarter in the prior year, the firm posted $1.97 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, analysts forecast that Mallinckrodt will post 6.71 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Advisors Preferred LLC increased its holdings in shares of Mallinckrodt by 493.9% in the second quarter. Advisors Preferred LLC now owns 10,512 shares of the company’s stock worth $196,000 after acquiring an additional 8,742 shares in the last quarter. Balasa Dinverno & Foltz LLC bought a new stake in shares of Mallinckrodt in the second quarter worth about $200,000. Janus Henderson Group PLC bought a new stake in shares of Mallinckrodt in the second quarter worth about $237,000. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Mallinckrodt by 46.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 15,238 shares of the company’s stock worth $284,000 after acquiring an additional 4,853 shares in the last quarter. Finally, Hartford Investment Management Co. bought a new stake in shares of Mallinckrodt in the second quarter worth about $293,000.

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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Analyst Recommendations for Mallinckrodt (NYSE:MNK)

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