Mallinckrodt (MNK) Rating Reiterated by Mizuho

Mizuho reiterated their neutral rating on shares of Mallinckrodt (NYSE:MNK) in a research note published on Tuesday morning, Marketbeat Ratings reports. Mizuho currently has a $21.00 price objective on the stock, down from their prior price objective of $22.00.

Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded Mallinckrodt from a sell rating to a hold rating in a research note on Tuesday, October 31st. Canaccord Genuity set a $24.00 price objective on Mallinckrodt and gave the company a hold rating in a research note on Tuesday, November 14th. Cantor Fitzgerald set a $42.00 target price on Mallinckrodt and gave the company a buy rating in a report on Tuesday, December 26th. Wells Fargo & Co reissued a hold rating on shares of Mallinckrodt in a report on Monday, January 1st. Finally, Oppenheimer dropped their target price on Mallinckrodt from $70.00 to $48.00 in a report on Tuesday, September 19th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $44.99.

Shares of Mallinckrodt (MNK) traded up $0.60 during midday trading on Tuesday, hitting $23.50. The stock had a trading volume of 2,473,100 shares, compared to its average volume of 3,190,000. The firm has a market capitalization of $2,230.00, a PE ratio of -1,175.00, a P/E/G ratio of 0.43 and a beta of 1.30. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.38. Mallinckrodt has a twelve month low of $19.00 and a twelve month high of $55.32.

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

In other news, Director David R. Carlucci acquired 10,000 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were bought at an average price of $21.83 per share, with a total value of $218,300.00. Following the completion of the acquisition, the director now owns 26,020 shares in the company, valued at approximately $568,016.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Trudeau acquired 5,000 shares of the company’s stock in a transaction on Friday, November 10th. The shares were purchased at an average cost of $22.28 per share, for a total transaction of $111,400.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 30,460 shares of company stock worth $659,486. Corporate insiders own 0.77% of the company’s stock.

Several hedge funds have recently modified their holdings of MNK. HealthCor Management L.P. purchased a new position in shares of Mallinckrodt during the second quarter worth about $107,649,000. Janus Henderson Group PLC grew its holdings in shares of Mallinckrodt by 6,828.1% during the second quarter. Janus Henderson Group PLC now owns 1,396,780 shares of the company’s stock worth $62,590,000 after purchasing an additional 1,376,619 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Mallinckrodt by 117.3% during the second quarter. Ameriprise Financial Inc. now owns 1,937,444 shares of the company’s stock worth $86,815,000 after purchasing an additional 1,045,757 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Mallinckrodt by 114.9% during the third quarter. Prudential Financial Inc. now owns 1,379,978 shares of the company’s stock worth $51,569,000 after purchasing an additional 737,791 shares during the last quarter. Finally, AJO LP grew its holdings in shares of Mallinckrodt by 165.6% during the second quarter. AJO LP now owns 927,472 shares of the company’s stock worth $41,560,000 after buying an additional 578,266 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.

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Mallinckrodt Company Profile

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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