Mallinckrodt (NYSE:MNK) Trading 9.8% Higher

Mallinckrodt PLC (NYSE:MNK) shares traded up 9.8% during trading on Thursday . The company traded as high as $3.72 and last traded at $3.69, 7,607,443 shares changed hands during trading. An increase of 48% from the average session volume of 5,143,998 shares. The stock had previously closed at $3.36.

A number of analysts have commented on the company. Jefferies Financial Group set a $2.00 price objective on Mallinckrodt and gave the stock a “hold” rating in a report on Friday, September 6th. BMO Capital Markets reissued a “market perform” rating on shares of Mallinckrodt in a report on Thursday, September 5th. Wells Fargo & Co reissued a “hold” rating on shares of Mallinckrodt in a report on Monday. Barclays set a $5.00 price objective on Mallinckrodt and gave the stock a “hold” rating in a report on Tuesday, September 10th. Finally, Stifel Nicolaus decreased their price objective on Mallinckrodt from $20.00 to $8.00 and set a “hold” rating for the company in a report on Monday, September 9th. 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 company’s stock. The company currently has an average rating of “Hold” and an average price target of $10.19.

The business has a 50 day moving average price of $3.29 and a two-hundred day moving average price of $5.10. The stock has a market cap of $275.83 million, a PE ratio of 0.46, a P/E/G ratio of 0.03 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.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. lifted its stake in Mallinckrodt by 4.6% in the second quarter. Meeder Asset Management Inc. now owns 45,088 shares of the company’s stock valued at $414,000 after purchasing an additional 2,003 shares during the last quarter. Parallel Advisors LLC lifted its stake in 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 purchasing an additional 2,776 shares during the last quarter. Coastal Capital Group Inc. purchased a new position in Mallinckrodt in the second quarter valued at approximately $31,000. Swiss National Bank lifted its stake in Mallinckrodt by 2.3% in the second quarter. Swiss National Bank now owns 155,300 shares of the company’s stock valued at $1,426,000 after purchasing an additional 3,500 shares during the last quarter. Finally, NumerixS Investment Technologies Inc lifted its stake in Mallinckrodt by 30.3% in the second quarter. NumerixS Investment Technologies Inc now owns 15,900 shares of the company’s stock valued at $146,000 after purchasing an additional 3,700 shares during the last quarter. 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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