Mallinckrodt (NYSE:MNK) received a $39.00 price objective from analysts at Piper Jaffray Companies in a note issued to investors on Friday. The brokerage currently has a “buy” rating on the stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 81.14% from the company’s previous close.
Other analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Mallinckrodt from a “buy” rating to a “hold” rating in a report on Friday, August 24th. Morgan Stanley increased their target price on shares of Mallinckrodt from $14.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, August 17th. SunTrust Banks increased their target price 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. B. Riley raised their price objective on shares of Mallinckrodt from $20.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, August 24th. Finally, Goldman Sachs Group lowered shares of Mallinckrodt from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $27.00 to $28.00 in a report on Tuesday, September 11th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. Mallinckrodt has an average rating of “Hold” and an average price target of $33.56.
NYSE MNK opened at $21.53 on Friday. The company has a quick ratio of 2.05, a current ratio of 2.21 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 stock has a market cap of $1.93 billion, a price-to-earnings ratio of 2.87, a price-to-earnings-growth ratio of 0.31 and a beta of 1.61.
Mallinckrodt (NYSE:MNK) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.31. Mallinckrodt had a net margin of 65.24% and a return on equity of 9.60%. The business had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.38 million. During the same period in the prior year, the business posted $1.97 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. Sell-side analysts predict that Mallinckrodt will post 7.09 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can increased its stake in shares of Mallinckrodt by 209.3% during the second quarter. Bank of Montreal Can now owns 63,822 shares of the company’s stock valued at $1,189,000 after purchasing an additional 43,190 shares in the last quarter. Aperio Group LLC increased its stake in shares of Mallinckrodt by 128.1% during the second quarter. Aperio Group LLC now owns 196,129 shares of the company’s stock valued at $3,660,000 after purchasing an additional 110,146 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Mallinckrodt by 57.1% during the second quarter. First Trust Advisors LP now owns 1,549,962 shares of the company’s stock valued at $28,922,000 after purchasing an additional 563,419 shares in the last quarter. State of Wisconsin Investment Board increased its stake in shares of Mallinckrodt by 340.0% during the second quarter. State of Wisconsin Investment Board now owns 83,900 shares of the company’s stock valued at $1,566,000 after purchasing an additional 64,830 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Mallinckrodt during the second quarter valued at approximately $418,000.
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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