Mallinckrodt (NYSE:MNK) Shares Gap Down to $2.91

Mallinckrodt PLC (NYSE:MNK)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $2.97, but opened at $2.91. Mallinckrodt shares last traded at $2.79, with a volume of 4,736,962 shares changing hands.

MNK has been the subject of a number of research reports. ValuEngine lowered shares of Mallinckrodt from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Wells Fargo & Co reissued a “hold” rating on shares of Mallinckrodt in a research note on Wednesday, October 9th. BMO Capital Markets reissued a “market perform” rating on shares of Mallinckrodt in a research note on Thursday, September 5th. Morgan Stanley set a $5.00 target price on shares of Mallinckrodt and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Stifel Nicolaus decreased their target price on shares of Mallinckrodt from $20.00 to $8.00 and set a “hold” rating for the company in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $10.19.

The business’s 50 day simple moving average is $2.74 and its 200-day simple moving average is $6.74. The company has a market cap of $237.98 million, a price-to-earnings ratio of 0.35, a price-to-earnings-growth ratio of 0.04 and a beta of 2.53. 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 released its quarterly earnings data on Tuesday, November 5th. The company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.09. Mallinckrodt had a negative net margin of 111.44% and a positive return on equity of 24.36%. The business had revenue of $743.70 million during the quarter, compared to analyst estimates of $770.56 million. During the same quarter in the previous year, the business earned $2.10 EPS. Mallinckrodt’s quarterly revenue was down 7.0% compared to the same quarter last year. Research analysts expect that Mallinckrodt PLC will post 8.6 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. United Services Automobile Association lifted its stake in shares of Mallinckrodt by 6.0% in the 2nd quarter. United Services Automobile Association now owns 146,300 shares of the company’s stock valued at $1,343,000 after purchasing an additional 8,246 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Mallinckrodt in the 2nd quarter valued at $157,000. Hancock Whitney Corp acquired a new stake in shares of Mallinckrodt in the 2nd quarter valued at $262,000. Capital Fund Management S.A. lifted its stake in shares of Mallinckrodt by 174.2% in the 2nd quarter. Capital Fund Management S.A. now owns 348,174 shares of the company’s stock valued at $3,196,000 after purchasing an additional 221,174 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Mallinckrodt by 18.4% in the 2nd quarter. Vanguard Group Inc. now owns 9,809,305 shares of the company’s stock valued at $90,049,000 after purchasing an additional 1,527,591 shares during the last quarter.

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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