Mallinckrodt (NYSE:MNK) had its price objective dropped by research analysts at Cantor Fitzgerald from $42.00 to $18.00 in a research report issued on Wednesday, The Fly reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price points to a potential upside of 82.74% from the stock’s previous close.
Several other brokerages have also issued reports on MNK. Mizuho raised their target price on Mallinckrodt to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, February 28th. Morgan Stanley set a $32.00 target price on Mallinckrodt and gave the stock a “hold” rating in a research report on Thursday, February 28th. ValuEngine lowered Mallinckrodt from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. SunTrust Banks assumed coverage on Mallinckrodt in a research report on Tuesday, March 19th. They set a “hold” rating and a $23.00 target price for the company. Finally, Canaccord Genuity set a $40.00 target price on Mallinckrodt and gave the stock a “buy” rating in a research report on Monday, March 18th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $21.83.
Shares of NYSE:MNK opened at $9.85 on Wednesday. The firm has a market cap of $796.23 million, a P/E ratio of 1.23, a P/E/G ratio of 0.10 and a beta of 2.39. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.45 and a quick ratio of 1.08. Mallinckrodt has a 12-month low of $8.42 and a 12-month high of $36.65.
Mallinckrodt (NYSE:MNK) last announced its earnings results on Tuesday, May 7th. The company reported $1.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.21. The business had revenue of $791.00 million during the quarter, compared to analyst estimates of $766.27 million. Mallinckrodt had a positive return on equity of 14.22% and a negative net margin of 118.53%. Mallinckrodt’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $1.31 EPS. Analysts expect that Mallinckrodt will post 8.24 earnings per share for the current fiscal year.
In other Mallinckrodt news, CFO Bryan M. Reasons acquired 5,400 shares of the stock in a transaction dated Friday, June 7th. The stock was purchased at an average cost of $8.96 per share, with a total value of $48,384.00. Following the transaction, the chief financial officer now owns 17,979 shares in the company, valued at approximately $161,091.84. The acquisition was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders bought 8,400 shares of company stock valued at $83,234. Corporate insiders own 2.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of MNK. CWM LLC raised its position in shares of Mallinckrodt by 222.8% in the 1st quarter. CWM LLC now owns 1,159 shares of the company’s stock worth $25,000 after acquiring an additional 800 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Mallinckrodt by 1,480.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 520,326 shares of the company’s stock valued at $33,000 after buying an additional 487,394 shares during the period. QS Investors LLC grew its stake in shares of Mallinckrodt by 14.3% in the 4th quarter. QS Investors LLC now owns 4,000 shares of the company’s stock valued at $64,000 after buying an additional 500 shares during the period. Anderson Fisher LLC grew its stake in shares of Mallinckrodt by 1,129.1% in the 1st quarter. Anderson Fisher LLC now owns 5,285 shares of the company’s stock valued at $115,000 after buying an additional 4,855 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Mallinckrodt by 724.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 5,617 shares of the company’s stock valued at $122,000 after buying an additional 4,936 shares during the period.
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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