Mallinckrodt (NYSE:MNK) has been given a $34.00 price objective by equities researchers at Canaccord Genuity in a report released on Sunday. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s target price points to a potential downside of 5.74% from the stock’s current price.
Several other brokerages also recently commented on MNK. Leerink Swann lifted their target price on shares of Mallinckrodt from $12.00 to $27.00 and gave the stock a “market perform” rating in a report on Wednesday, August 8th. Morgan Stanley dropped their price objective on shares of Mallinckrodt from $27.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 9th. SunTrust Banks boosted their price objective on shares of Mallinckrodt to $32.00 and gave the stock a “positive” rating in a report on Monday, August 13th. They noted that the move was a valuation call. Mizuho restated a “hold” rating and set a $15.00 price objective on shares of Mallinckrodt in a report on Thursday, May 3rd. Finally, Oppenheimer restated a “hold” rating on shares of Mallinckrodt in a report on Tuesday, May 15th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the stock. Mallinckrodt currently has a consensus rating of “Hold” and a consensus price target of $33.26.
Shares of MNK opened at $36.07 on Friday. The firm has a market capitalization of $2.59 billion, a P/E ratio of 4.70, a PEG ratio of 0.48 and a beta of 1.36. Mallinckrodt has a one year low of $11.65 and a one year high of $41.70. The company has a current ratio of 2.27, a quick ratio of 2.06 and a debt-to-equity ratio of 0.98.
Mallinckrodt (NYSE:MNK) last announced its earnings results on Tuesday, August 7th. The company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.48 by $0.30. The firm had revenue of $631.70 million for the quarter, compared to the consensus estimate of $621.15 million. Mallinckrodt had a net margin of 59.85% and a return on equity of 10.39%. research analysts expect that Mallinckrodt will post 6.67 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of MNK. Victory Capital Management Inc. bought a new stake in Mallinckrodt in the first quarter valued at about $104,000. Bronfman E.L. Rothschild L.P. increased its stake in Mallinckrodt by 11,188.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 10,385 shares of the company’s stock valued at $150,000 after acquiring an additional 10,293 shares during the period. Virginia Retirement Systems ET AL bought a new stake in Mallinckrodt in the first quarter valued at about $175,000. Financial Gravity Wealth Inc. bought a new stake in Mallinckrodt in the first quarter valued at about $182,000. Finally, Advisors Preferred LLC increased its stake in Mallinckrodt by 493.9% in the second quarter. Advisors Preferred LLC now owns 10,512 shares of the company’s stock valued at $196,000 after acquiring an additional 8,742 shares during the period.
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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