Mallinckrodt (NYSE:MNK) Stock Price Down 13.4%

Shares of Mallinckrodt PLC (NYSE:MNK) fell 13.4% during mid-day trading on Wednesday . The company traded as low as $3.10 and last traded at $3.36, 34,757,991 shares changed hands during mid-day trading. An increase of 781% from the average session volume of 3,945,474 shares. The stock had previously closed at $3.88.

A number of equities research analysts have commented on MNK shares. Cantor Fitzgerald set a $18.00 price target on Mallinckrodt and gave the company a “buy” rating in a report on Friday, July 12th. SunTrust Banks lowered their price objective on Mallinckrodt to $7.00 and set a “positive” rating on the stock in a research report on Monday, August 12th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Mallinckrodt in a research note on Thursday, September 5th. Leerink Swann set a $2.00 target price on Mallinckrodt and gave the stock a “hold” rating in a research report on Friday, September 6th. Finally, Mizuho decreased their target price on Mallinckrodt from $22.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 28th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Mallinckrodt presently has a consensus rating of “Hold” and a consensus target price of $11.24.

The firm’s fifty day simple moving average is $4.57 and its 200 day simple moving average is $12.66. The firm has a market cap of $176.42 million, a P/E ratio of 0.42, a P/E/G ratio of 0.02 and a beta of 2.42. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.57 and a current ratio of 0.78.

Mallinckrodt (NYSE:MNK) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $2.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.10 by $0.43. Mallinckrodt had a positive return on equity of 18.96% and a negative net margin of 111.46%. The firm had revenue of $823.30 million during the quarter, compared to analyst estimates of $817.55 million. During the same quarter last year, the business posted $2.16 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts predict that Mallinckrodt PLC will post 8.49 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the stock. Lingohr & Partner Asset Management GmbH bought a new stake in Mallinckrodt in the 1st quarter worth approximately $332,000. Rhumbline Advisers grew its holdings in shares of Mallinckrodt by 0.8% in the first quarter. Rhumbline Advisers now owns 267,983 shares of the company’s stock valued at $5,826,000 after purchasing an additional 2,019 shares in the last quarter. Federated Investors Inc. PA grew its holdings in shares of Mallinckrodt by 3.0% in the first quarter. Federated Investors Inc. PA now owns 349,752 shares of the company’s stock valued at $7,604,000 after purchasing an additional 10,217 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Mallinckrodt in the second quarter valued at $157,000. Finally, Capital Fund Management S.A. increased its position in Mallinckrodt by 174.2% in the second quarter. Capital Fund Management S.A. now owns 348,174 shares of the company’s stock worth $3,196,000 after purchasing an additional 221,174 shares during the last quarter.

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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