Investment analysts at Barclays started coverage on shares of Mallinckrodt (NYSE:MNK) in a research note issued on Tuesday, MarketBeat.com reports. The brokerage set an “equal weight” rating and a $11.00 price target on the stock. Barclays‘s price objective would indicate a potential upside of 18.03% from the company’s current price.
Several other analysts have also recently weighed in on the stock. Canaccord Genuity set a $40.00 price objective on shares of Mallinckrodt and gave the stock a “buy” rating in a research note on Monday, March 18th. Mizuho dropped their price objective on shares of Mallinckrodt from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday, May 16th. Berenberg Bank reiterated a “sell” rating and issued a $5.00 price objective (down previously from $10.00) on shares of Mallinckrodt in a research note on Tuesday, May 21st. Morgan Stanley set a $32.00 price objective on shares of Mallinckrodt and gave the stock a “hold” rating in a research note on Thursday, February 28th. Finally, ValuEngine cut shares of Mallinckrodt from a “sell” rating to a “strong sell” rating in a research note on Monday, May 13th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.83.
NYSE MNK opened at $9.32 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.45 and a debt-to-equity ratio of 1.90. The stock has a market cap of $797.87 million, a PE ratio of 1.16, a P/E/G ratio of 0.09 and a beta of 2.39. Mallinckrodt has a 52-week low of $8.42 and a 52-week high of $36.65.
Mallinckrodt (NYSE:MNK) last posted its earnings results on Tuesday, May 7th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.21. The company had revenue of $791.00 million during the quarter, compared to analysts’ expectations of $766.27 million. Mallinckrodt had a negative net margin of 118.53% and a positive return on equity of 14.22%. Mallinckrodt’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.31 EPS. As a group, equities research analysts expect that Mallinckrodt will post 8.24 earnings per share for the current year.
In other news, CFO Bryan M. Reasons bought 5,400 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were purchased at an average cost of $8.96 per share, with a total value of $48,384.00. Following the acquisition, the chief financial officer now directly owns 17,979 shares in the company, valued at $161,091.84. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders acquired 8,400 shares of company stock worth $83,234. Insiders own 2.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in MNK. Nordea Investment Management AB lifted its position in shares of Mallinckrodt by 45.8% in the 1st quarter. Nordea Investment Management AB now owns 189,667 shares of the company’s stock worth $4,123,000 after purchasing an additional 59,600 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Mallinckrodt by 1.1% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 1,637,740 shares of the company’s stock worth $35,604,000 after purchasing an additional 18,300 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Mallinckrodt by 454.1% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,786 shares of the company’s stock worth $474,000 after purchasing an additional 17,854 shares during the period. One Wealth Advisors LLC acquired a new position in shares of Mallinckrodt in the 1st quarter worth approximately $152,000. Finally, Man Group plc lifted its position in shares of Mallinckrodt by 30.9% in the 1st quarter. Man Group plc now owns 258,082 shares of the company’s stock worth $5,612,000 after purchasing an additional 60,856 shares during the period.
Mallinckrodt Company Profile
Mallinckrodt plc, together with its subsidiaries, develops, manufactures, markets, and distributes specialty pharmaceutical products and therapies in the United States, Europe, the Middle East, Africa, and internationally. It operates in two segments, Specialty Brands, and Specialty Generics and Amitiza.
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