Other equities analysts have also recently issued research reports about the stock. Cantor Fitzgerald set a $42.00 target price on shares of Mallinckrodt and gave the stock a buy rating in a research report on Monday, April 30th. Piper Jaffray Companies reiterated a buy rating and issued a $39.00 target price on shares of Mallinckrodt in a research report on Wednesday. Morgan Stanley decreased their target price on shares of Mallinckrodt from $27.00 to $14.00 and set an equal weight rating on the stock in a research report on Wednesday, May 9th. Mizuho reiterated a hold rating and issued a $15.00 target price on shares of Mallinckrodt in a research report on Friday, April 20th. Finally, Stifel Nicolaus cut shares of Mallinckrodt from a buy rating to a hold rating and set a $50.00 target price on the stock. in a research report on Thursday, April 12th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $30.95.
Mallinckrodt traded up $0.40, reaching $31.10, during trading hours on Wednesday, Marketbeat.com reports. The company’s stock had a trading volume of 4,116,910 shares, compared to its average volume of 3,390,203. The stock has a market cap of $2.55 billion, a PE ratio of 4.15, a PEG ratio of 0.48 and a beta of 1.36. Mallinckrodt has a 1 year low of $11.65 and a 1 year high of $41.70. The company has a quick ratio of 1.90, a current ratio of 2.27 and a debt-to-equity ratio of 0.98.
Mallinckrodt (NYSE:MNK) last issued its earnings results on Tuesday, August 7th. The company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.30. The company had revenue of $631.70 million for the quarter, compared to analysts’ expectations of $621.15 million. Mallinckrodt had a net margin of 59.85% and a return on equity of 10.39%. sell-side analysts anticipate that Mallinckrodt will post 6.67 EPS for the current year.
In other news, insider Mark Trudeau acquired 3,000 shares of the firm’s stock in a transaction on Wednesday, May 16th. The shares were purchased at an average price of $15.54 per share, for a total transaction of $46,620.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in shares of Mallinckrodt by 22.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 23,662 shares of the company’s stock valued at $343,000 after purchasing an additional 4,381 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Mallinckrodt by 46.7% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 15,238 shares of the company’s stock valued at $284,000 after purchasing an additional 4,853 shares in the last quarter. Guggenheim Capital LLC boosted its stake in shares of Mallinckrodt by 17.1% during the 1st quarter. Guggenheim Capital LLC now owns 40,863 shares of the company’s stock valued at $592,000 after purchasing an additional 5,958 shares in the last quarter. Baker Avenue Asset Management LP boosted its stake in shares of Mallinckrodt by 12.7% during the 1st quarter. Baker Avenue Asset Management LP now owns 59,463 shares of the company’s stock valued at $861,000 after purchasing an additional 6,720 shares in the last quarter. Finally, Gabelli Funds LLC boosted its stake in shares of Mallinckrodt by 12.0% during the 1st quarter. Gabelli Funds LLC now owns 65,349 shares of the company’s stock valued at $946,000 after purchasing an additional 7,000 shares in the last quarter.
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.
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