A number of other equities analysts also recently weighed in on the company. Goldman Sachs Group downgraded Mallinckrodt from a neutral rating to a sell rating and upped their target price for the company from $27.00 to $28.00 in a report on Tuesday, September 11th. Zacks Investment Research downgraded Mallinckrodt from a buy rating to a hold rating in a report on Thursday, September 6th. Wells Fargo & Co set a $27.00 target price on Mallinckrodt and gave the company a hold rating in a report on Tuesday, November 6th. Berenberg Bank initiated coverage on Mallinckrodt in a report on Friday, September 14th. They issued a sell rating and a $25.00 target price on the stock. Finally, Canaccord Genuity upgraded Mallinckrodt from a hold rating to a buy rating and upped their target price for the company from $34.00 to $40.00 in a report on Monday, November 19th. 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. The stock currently has a consensus rating of Hold and an average price target of $33.56.
MNK stock traded down $0.77 during mid-day trading on Friday, reaching $20.76. 3,625,886 shares of the stock traded hands, compared to its average volume of 2,398,465. The company has a current ratio of 2.21, a quick ratio of 2.05 and a debt-to-equity ratio of 0.93. Mallinckrodt has a 52-week low of $11.65 and a 52-week high of $36.65. The firm has a market capitalization of $1.79 billion, a PE ratio of 2.77, a P/E/G ratio of 0.28 and a beta of 1.61.
Mallinckrodt (NYSE:MNK) last posted its quarterly earnings data on Tuesday, November 6th. The company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.31. The company had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.38 million. Mallinckrodt had a net margin of 65.24% and a return on equity of 9.60%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.97 earnings per share. On average, equities research analysts anticipate that Mallinckrodt will post 7.09 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. acquired a new position in Mallinckrodt in the third quarter worth approximately $486,000. Marshall Wace LLP acquired a new position in Mallinckrodt in the third quarter worth approximately $3,011,000. Vanguard Group Inc. increased its holdings in Mallinckrodt by 2.4% in the third quarter. Vanguard Group Inc. now owns 7,597,447 shares of the company’s stock worth $222,681,000 after buying an additional 174,836 shares during the last quarter. Morgan Stanley increased its holdings in Mallinckrodt by 72.7% in the third quarter. Morgan Stanley now owns 1,703,367 shares of the company’s stock worth $49,925,000 after buying an additional 717,251 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Mallinckrodt by 18.3% in the third quarter. Legal & General Group Plc now owns 172,157 shares of the company’s stock worth $5,045,000 after buying an additional 26,574 shares during the last quarter.
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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