Mallinckrodt (NYSE:MNK) received a $23.00 price objective from analysts at Berenberg Bank in a research note issued to investors on Wednesday. The brokerage currently has a “sell” rating on the stock. Berenberg Bank’s price target suggests a potential downside of 25.57% from the stock’s previous close.
Several other analysts also recently issued reports on MNK. Canaccord Genuity boosted their price target on Mallinckrodt from $14.00 to $22.00 and gave the company a “hold” rating in a research note on Thursday, July 19th. Cantor Fitzgerald restated a “buy” rating and issued a $42.00 price target on shares of Mallinckrodt in a research note on Tuesday, August 7th. BMO Capital Markets restated an “outperform” rating and issued a $37.00 price target on shares of Mallinckrodt in a research note on Tuesday, August 7th. Piper Jaffray Companies restated a “buy” rating and issued a $39.00 price target on shares of Mallinckrodt in a research note on Wednesday, August 8th. Finally, Raymond James downgraded Mallinckrodt from an “outperform” rating to a “market perform” rating and set a $58.00 price target for the company. in a research note on Wednesday, August 8th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $32.53.
Shares of NYSE MNK traded down $0.27 during midday trading on Wednesday, hitting $30.90. 1,206,450 shares of the company’s stock were exchanged, compared to its average volume of 1,775,943. The company has a current ratio of 2.21, a quick ratio of 2.06 and a debt-to-equity ratio of 0.93. Mallinckrodt has a 12 month low of $11.65 and a 12 month high of $36.65. The company has a market capitalization of $2.47 billion, a P/E ratio of 4.13, a P/E/G ratio of 0.40 and a beta of 1.71.
Mallinckrodt (NYSE:MNK) last issued its earnings results on Tuesday, November 6th. The company reported $2.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.79 by $0.31. The company had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.38 million. Mallinckrodt had a return on equity of 9.60% and a net margin of 65.24%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.97 EPS. Analysts predict that Mallinckrodt will post 7.09 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. Advisors Preferred LLC lifted its position in shares of Mallinckrodt by 493.9% during the 2nd 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. Balasa Dinverno & Foltz LLC bought a new stake in shares of Mallinckrodt during the 2nd quarter valued at $200,000. Janus Henderson Group PLC bought a new stake in shares of Mallinckrodt during the 2nd quarter valued at $237,000. Crossmark Global Holdings Inc. bought a new stake in shares of Mallinckrodt during the 3rd quarter valued at $247,000. Finally, Bronfman E.L. Rothschild L.P. lifted its position 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 acquiring an additional 4,853 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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