Mallinckrodt (MNK) Stock Rating Reaffirmed by Mizuho

Mizuho restated their neutral rating on shares of Mallinckrodt (NYSE:MNK) in a research note published on Tuesday, MarketBeat reports. They currently have a $21.00 target price on the stock, down from their previous target price of $22.00.

MNK has been the topic of a number of other research reports. ValuEngine raised shares of Mallinckrodt from a hold rating to a buy rating in a report on Monday, October 2nd. Zacks Investment Research raised shares of Mallinckrodt from a sell rating to a hold rating in a report on Wednesday, October 25th. Canaccord Genuity set a $24.00 price objective on shares of Mallinckrodt and gave the stock a hold rating in a report on Tuesday, December 26th. Goldman Sachs Group reissued a hold rating on shares of Mallinckrodt in a report on Monday, January 1st. Finally, Deutsche Bank downgraded shares of Mallinckrodt from a buy rating to a hold rating and decreased their price objective for the stock from $44.00 to $28.00 in a report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $44.99.

Mallinckrodt (MNK) traded up $0.60 during mid-day trading on Tuesday, reaching $23.50. 2,473,100 shares of the company were exchanged, compared to its average volume of 3,190,000. The stock has a market capitalization of $2,230.00, a P/E ratio of -1,175.00, a P/E/G ratio of 0.43 and a beta of 1.30. Mallinckrodt has a 52-week low of $19.00 and a 52-week high of $55.32. The company has a current ratio of 1.38, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08.

Mallinckrodt (NYSE:MNK) last released its quarterly earnings data on Tuesday, November 7th. The company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.17. The firm had revenue of $793.90 million for the quarter, compared to the consensus estimate of $808.93 million. Mallinckrodt had a net margin of 11.43% and a return on equity of 14.79%. The firm’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.04 earnings per share. analysts predict that Mallinckrodt will post 7.21 earnings per share for the current year.

In other news, Director David R. Carlucci acquired 10,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was acquired at an average price of $21.83 per share, with a total value of $218,300.00. Following the completion of the transaction, the director now directly owns 26,020 shares in the company, valued at approximately $568,016.60. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Dr Kneeland Youngblood acquired 4,560 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was purchased at an average cost of $21.94 per share, with a total value of $100,046.40. Following the transaction, the director now owns 19,789 shares of the company’s stock, valued at $434,170.66. The disclosure for this purchase can be found here. Insiders acquired 30,460 shares of company stock worth $659,486 in the last ninety days. Insiders own 0.77% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Mallinckrodt by 16.7% in the third quarter. Dimensional Fund Advisors LP now owns 2,522,330 shares of the company’s stock valued at $94,255,000 after buying an additional 360,516 shares during the last quarter. HealthCor Management L.P. acquired a new position in shares of Mallinckrodt in the second quarter valued at approximately $107,649,000. Ameriprise Financial Inc. raised its position in shares of Mallinckrodt by 2.6% in the third quarter. Ameriprise Financial Inc. now owns 1,987,196 shares of the company’s stock valued at $74,260,000 after buying an additional 49,752 shares during the last quarter. Alyeska Investment Group L.P. raised its position in shares of Mallinckrodt by 45.8% in the third quarter. Alyeska Investment Group L.P. now owns 1,535,583 shares of the company’s stock valued at $57,385,000 after buying an additional 482,591 shares during the last quarter. Finally, Orbimed Advisors LLC raised its position in shares of Mallinckrodt by 15.7% in the third quarter. Orbimed Advisors LLC now owns 1,472,700 shares of the company’s stock valued at $55,035,000 after buying an additional 200,000 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

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About Mallinckrodt

Mallinckrodt public limited company develops, manufactures, markets and distributes branded and generic specialty pharmaceutical products and therapies. The Company focuses on various therapeutic areas, such as autoimmune and rare disease specialty areas, including neurology, rheumatology, nephrology, ophthalmology and pulmonology; immunotherapy and neonatal critical care respiratory therapies; analgesics and hemostasis products, and central nervous system drugs.

Analyst Recommendations for Mallinckrodt (NYSE:MNK)

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