Mallinckrodt (NYSE:MNK) Stock Price Down 12.9%

Shares of Mallinckrodt PLC (NYSE:MNK) dropped 12.9% during trading on Thursday . The company traded as low as $3.37 and last traded at $3.38, approximately 8,835,513 shares were traded during mid-day trading. An increase of 72% from the average daily volume of 5,142,070 shares. The stock had previously closed at $3.88.

MNK has been the subject of a number of analyst reports. Jefferies Financial Group set a $2.00 price objective on shares of Mallinckrodt and gave the company a “hold” rating in a research report on Friday, September 6th. Stifel Nicolaus cut their target price on shares of Mallinckrodt from $20.00 to $8.00 and set a “hold” rating for the company in a research note on Monday, September 9th. Wells Fargo & Co reiterated a “hold” rating on shares of Mallinckrodt in a report on Wednesday, October 9th. BMO Capital Markets reiterated a “market perform” rating on shares of Mallinckrodt in a report on Thursday, September 5th. Finally, Leerink Swann set a $2.00 price target on Mallinckrodt and gave the stock a “hold” rating in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Mallinckrodt has a consensus rating of “Hold” and a consensus target price of $10.19.

The firm has a market cap of $286.76 million, a P/E ratio of 0.43, a P/E/G ratio of 0.05 and a beta of 2.59. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.86 and a current ratio of 1.07. The firm’s fifty day moving average is $3.19 and its 200 day moving average is $5.32.

Mallinckrodt (NYSE:MNK) last announced its earnings results on Tuesday, November 5th. The company reported $2.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.09. The company had revenue of $743.70 million for the quarter, compared to analyst estimates of $770.56 million. Mallinckrodt had a positive return on equity of 24.36% and a negative net margin of 111.44%. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.10 earnings per share. As a group, equities research analysts forecast that Mallinckrodt PLC will post 8.59 EPS for the current year.

Several large investors have recently made changes to their positions in MNK. Parallel Advisors LLC raised its position in shares of Mallinckrodt by 1,239.3% in the second quarter. Parallel Advisors LLC now owns 3,000 shares of the company’s stock valued at $28,000 after buying an additional 2,776 shares in the last quarter. Coastal Capital Group Inc. bought a new stake in shares of Mallinckrodt during the 2nd quarter valued at $31,000. Quantamental Technologies LLC bought a new stake in shares of Mallinckrodt during the 2nd quarter valued at $84,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Mallinckrodt by 151.0% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,173 shares of the company’s stock worth $84,000 after purchasing an additional 5,519 shares in the last quarter. Finally, Teza Capital Management LLC acquired a new stake in shares of Mallinckrodt during the 2nd quarter worth $92,000. Hedge funds and other institutional investors own 92.05% of the company’s stock.

Mallinckrodt Company Profile (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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