Berenberg Bank set a $23.00 price objective on Mallinckrodt (NYSE:MNK) in a research report released on Wednesday morning. The firm currently has a sell rating on the stock.
Several other research analysts also recently weighed in on the stock. Goldman Sachs Group downgraded shares of Mallinckrodt from a neutral rating to a sell rating and upped their price target for the stock from $27.00 to $28.00 in a research report on Tuesday, September 11th. Zacks Investment Research downgraded shares of Mallinckrodt from a buy rating to a hold rating in a research report on Thursday, September 6th. Wells Fargo & Co set a $24.00 price target on shares of Mallinckrodt and gave the stock a hold rating in a research report on Monday, October 8th. B. Riley upped their price target on shares of Mallinckrodt from $20.00 to $37.00 and gave the stock a neutral rating in a research report on Friday, August 24th. Finally, Canaccord Genuity restated a hold rating and set a $22.00 price target on shares of Mallinckrodt in a research report on Monday, August 13th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. Mallinckrodt has a consensus rating of Hold and an average price target of $32.53.
Shares of Mallinckrodt stock traded down $0.28 during trading hours on Wednesday, reaching $30.89. The stock had a trading volume of 2,026,671 shares, compared to its average volume of 1,767,710. The company has a market cap of $2.56 billion, a P/E ratio of 4.12, a price-to-earnings-growth ratio of 0.42 and a beta of 1.71. Mallinckrodt has a twelve month low of $11.65 and a twelve month high of $36.65. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.06 and a current ratio of 2.21.
Mallinckrodt (NYSE:MNK) last released its quarterly earnings results on Tuesday, November 6th. The company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.31. Mallinckrodt had a net margin of 65.24% and a return on equity of 9.60%. The firm had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.38 million. During the same quarter in the prior year, the firm earned $1.97 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities research analysts forecast that Mallinckrodt will post 7.09 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in MNK. BlackRock Inc. raised its holdings in Mallinckrodt by 19.1% in the 2nd quarter. BlackRock Inc. now owns 9,649,420 shares of the company’s stock valued at $180,057,000 after acquiring an additional 1,546,671 shares during the last quarter. Miller Value Partners LLC raised its holdings in Mallinckrodt by 57.5% in the 2nd quarter. Miller Value Partners LLC now owns 3,338,025 shares of the company’s stock valued at $62,288,000 after acquiring an additional 1,218,750 shares during the last quarter. Prudential Financial Inc. raised its holdings in Mallinckrodt by 100.4% in the 3rd quarter. Prudential Financial Inc. now owns 1,943,432 shares of the company’s stock valued at $56,962,000 after acquiring an additional 973,806 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Mallinckrodt by 7,856.9% in the 3rd quarter. Acadian Asset Management LLC now owns 889,109 shares of the company’s stock valued at $26,061,000 after acquiring an additional 877,935 shares during the last quarter. Finally, LSV Asset Management grew its stake in shares of Mallinckrodt by 26.2% in the 3rd quarter. LSV Asset Management now owns 3,377,259 shares of the company’s stock valued at $98,987,000 after buying an additional 702,105 shares during the period.
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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