Shares of Mallinckrodt PLC (NYSE:MNK) gapped down prior to trading on Tuesday . The stock had previously closed at $14.46, but opened at $15.13. Mallinckrodt shares last traded at $15.37, with a volume of 18298 shares.
A number of analysts recently issued reports on MNK shares. Canaccord Genuity set a $40.00 price objective on Mallinckrodt and gave the stock a “buy” rating in a research report on Monday, March 18th. Morgan Stanley set a $32.00 price objective on Mallinckrodt and gave the stock a “hold” rating in a research report on Thursday, February 28th. Mizuho raised their price objective on Mallinckrodt to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, February 28th. ValuEngine raised Mallinckrodt from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Finally, SunTrust Banks started coverage on Mallinckrodt in a research report on Tuesday, March 19th. They set a “hold” rating and a $23.00 price objective for the company. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Mallinckrodt currently has a consensus rating of “Hold” and an average target price of $30.69.
The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 1.90, a PEG ratio of 0.15 and a beta of 2.12. The company has a quick ratio of 1.08, a current ratio of 1.45 and a debt-to-equity ratio of 1.90.
Mallinckrodt (NYSE:MNK) last released its earnings results on Tuesday, May 7th. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.21. The company had revenue of $791.00 million during the quarter, compared to the consensus estimate of $766.27 million. Mallinckrodt had a positive return on equity of 14.22% and a negative net margin of 118.53%. Mallinckrodt’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.31 EPS. On average, research analysts predict that Mallinckrodt PLC will post 8.4 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNK. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in Mallinckrodt in the 1st quarter valued at about $47,464,000. Norges Bank acquired a new position in Mallinckrodt in the 4th quarter valued at about $26,615,000. Dimensional Fund Advisors LP grew its position in Mallinckrodt by 15.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,357,117 shares of the company’s stock valued at $100,443,000 after acquiring an additional 840,414 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Mallinckrodt by 90.6% in the 4th quarter. Acadian Asset Management LLC now owns 1,694,860 shares of the company’s stock valued at $26,781,000 after buying an additional 805,751 shares during the period. Finally, LSV Asset Management boosted its stake in shares of Mallinckrodt by 21.1% in the 4th quarter. LSV Asset Management now owns 4,090,968 shares of the company’s stock valued at $64,637,000 after buying an additional 713,709 shares during the period.
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About Mallinckrodt (NYSE:MNK)
Mallinckrodt plc, together with its subsidiaries, develops, manufactures, markets, and distributes specialty pharmaceutical products and therapies in the United States, Europe, the Middle East, Africa, and internationally. It operates in two segments, Specialty Brands, and Specialty Generics and Amitiza.
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