Mallinckrodt (NYSE:MNK) posted its quarterly earnings results on Tuesday. The company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.23, Bloomberg Earnings reports. The company had revenue of $572.60 million for the quarter, compared to the consensus estimate of $568.78 million. Mallinckrodt had a return on equity of 13.43% and a net margin of 66.25%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.04 EPS.
Shares of MNK traded down $0.51 during trading hours on Tuesday, reaching $12.27. The stock had a trading volume of 4,738,025 shares, compared to its average volume of 3,641,937. The company has a quick ratio of 1.85, a current ratio of 2.18 and a debt-to-equity ratio of 0.98. Mallinckrodt has a 52 week low of $11.65 and a 52 week high of $49.12. The stock has a market cap of $1.04 billion, a P/E ratio of 1.64, a P/E/G ratio of 0.30 and a beta of 1.13.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MNK. Victory Capital Management Inc. bought a new position in Mallinckrodt during the 1st quarter worth about $104,000. State of Alaska Department of Revenue bought a new position in Mallinckrodt during the 4th quarter worth about $129,000. Bronfman E.L. Rothschild L.P. increased its holdings in Mallinckrodt by 11,188.0% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 10,385 shares of the company’s stock worth $150,000 after purchasing an additional 10,293 shares in the last quarter. Virginia Retirement Systems ET AL bought a new position in Mallinckrodt during the 1st quarter worth about $175,000. Finally, Financial Gravity Companies Inc. increased its holdings in Mallinckrodt by 448.3% during the 1st quarter. Financial Gravity Companies Inc. now owns 14,125 shares of the company’s stock worth $182,000 after purchasing an additional 11,549 shares in the last quarter.
MNK has been the topic of a number of analyst reports. ValuEngine downgraded Mallinckrodt from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Barclays downgraded Mallinckrodt from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $23.00 to $20.00 in a research note on Friday, February 2nd. Cantor Fitzgerald set a $42.00 price target on Mallinckrodt and gave the company a “buy” rating in a research note on Tuesday, February 27th. Leerink Swann cut their price target on Mallinckrodt and set a “market perform” rating on the stock in a research note on Monday, April 23rd. Finally, Zacks Investment Research raised Mallinckrodt from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. Mallinckrodt has an average rating of “Hold” and an average target price of $32.68.
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.
Receive News & Ratings for Mallinckrodt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mallinckrodt and related companies with MarketBeat.com's FREE daily email newsletter.