Mallinckrodt (NYSE:MNK) Downgraded by ValuEngine to Sell

ValuEngine downgraded shares of Mallinckrodt (NYSE:MNK) from a hold rating to a sell rating in a research note issued to investors on Monday morning, ValuEngine reports.

Several other research analysts also recently issued reports on MNK. Canaccord Genuity lowered their price objective on shares of Mallinckrodt from $37.00 to $22.00 and set a buy rating on the stock in a research report on Friday, June 14th. Barclays set a $5.00 price objective on shares of Mallinckrodt and gave the stock a hold rating in a research report on Tuesday, September 10th. Mizuho lowered their price objective on shares of Mallinckrodt from $22.00 to $13.00 and set a neutral rating on the stock in a research report on Tuesday, May 28th. JPMorgan Chase & Co. lowered their price objective on shares of Mallinckrodt from $22.00 to $11.00 and set a neutral rating on the stock in a research report on Friday, May 24th. Finally, Berenberg Bank reissued a sell rating and set a $5.00 price objective (down from $10.00) on shares of Mallinckrodt in a research report on Tuesday, May 21st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $10.19.

NYSE MNK opened at $2.44 on Monday. Mallinckrodt has a 12 month low of $1.43 and a 12 month high of $32.34. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.78 and a quick ratio of 0.57. The company has a market capitalization of $203.72 million, a price-to-earnings ratio of 0.30, a price-to-earnings-growth ratio of 0.03 and a beta of 2.42. The firm’s fifty day moving average price is $4.04 and its 200 day moving average price is $11.95.

Mallinckrodt (NYSE:MNK) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $2.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.10 by $0.43. Mallinckrodt had a negative net margin of 111.46% and a positive return on equity of 18.96%. The company had revenue of $823.30 million for the quarter, compared to the consensus estimate of $817.55 million. During the same period last year, the firm posted $2.16 EPS. Mallinckrodt’s revenue for the quarter was down .3% on a year-over-year basis. As a group, sell-side analysts forecast that Mallinckrodt will post 8.48 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Mason Street Advisors LLC lifted its stake in shares of Mallinckrodt by 1.8% in the 1st quarter. Mason Street Advisors LLC now owns 44,405 shares of the company’s stock worth $965,000 after acquiring an additional 765 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of Mallinckrodt by 4.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 45,088 shares of the company’s stock worth $414,000 after acquiring an additional 2,003 shares during the period. Rhumbline Advisers lifted its stake in shares of Mallinckrodt by 0.8% in the 1st quarter. Rhumbline Advisers now owns 267,983 shares of the company’s stock worth $5,826,000 after acquiring an additional 2,019 shares during the period. Texas Permanent School Fund lifted its stake in shares of Mallinckrodt by 4.0% in the 1st quarter. Texas Permanent School Fund now owns 56,699 shares of the company’s stock worth $1,233,000 after acquiring an additional 2,180 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of Mallinckrodt by 1,239.3% in the 2nd quarter. Parallel Advisors LLC now owns 3,000 shares of the company’s stock worth $28,000 after acquiring an additional 2,776 shares during the period.

About Mallinckrodt

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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