Mallinckrodt (NYSE:MNK) Shares Gap Down to $3.02

Mallinckrodt PLC (NYSE:MNK) shares gapped down prior to trading on Thursday . The stock had previously closed at $2.89, but opened at $3.02. Mallinckrodt shares last traded at $2.89, with a volume of 324,441 shares traded.

A number of brokerages recently issued reports on MNK. BMO Capital Markets reiterated a “market perform” rating on shares of Mallinckrodt in a report on Thursday, September 5th. Morgan Stanley set a $5.00 target price on Mallinckrodt and gave the stock a “hold” rating in a report on Friday, August 9th. Jefferies Financial Group set a $2.00 target price on Mallinckrodt and gave the stock a “hold” rating in a report on Friday, September 6th. Stifel Nicolaus cut their target price on Mallinckrodt from $20.00 to $8.00 and set a “hold” rating on the stock in a report on Monday, September 9th. Finally, Wells Fargo & Co restated a “hold” rating on shares of Mallinckrodt in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $10.19.

The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.57 and a current ratio of 1.07. The firm has a 50 day simple moving average of $2.69 and a two-hundred day simple moving average of $7.12. The firm has a market capitalization of $259.59 million, a P/E ratio of 0.39, a PEG ratio of 0.04 and a beta of 2.53.

Mallinckrodt (NYSE:MNK) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $2.07 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $743.70 million for the quarter, compared to analysts’ expectations of $770.56 million. During the same period last year, the business earned $2.10 EPS. The business’s revenue was down 7.0% on a year-over-year basis. Sell-side analysts anticipate that Mallinckrodt PLC will post 8.59 earnings per share for the current year.

Large investors have recently modified their holdings of the business. Meeder Asset Management Inc. increased its position in shares of Mallinckrodt by 4.6% during the 2nd 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 increased its position in shares of Mallinckrodt by 1,239.3% during the 2nd 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 stake in shares of Mallinckrodt during the 2nd quarter valued at $31,000. Swiss National Bank increased its position in shares of Mallinckrodt by 2.3% during the 2nd 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 increased its position in shares of Mallinckrodt by 30.3% during the 2nd 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.

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.

Further Reading: Net Income

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