Mallinckrodt (NYSE:MNK) Trading 6.6% Higher

Mallinckrodt PLC (NYSE:MNK)’s stock price traded up 6.6% during trading on Wednesday . The stock traded as high as $3.95 and last traded at $3.88, 9,342,524 shares traded hands during mid-day trading. An increase of 82% from the average session volume of 5,126,232 shares. The stock had previously closed at $3.64.

A number of equities analysts recently commented on the company. BMO Capital Markets reiterated a “market perform” rating on shares of Mallinckrodt in a research report on Thursday, September 5th. SunTrust Banks lowered their price objective on Mallinckrodt to $7.00 and set a “positive” rating on the stock in a research note on Monday, August 12th. Stifel Nicolaus dropped their target price on Mallinckrodt from $20.00 to $8.00 and set a “hold” rating for the company in a report on Monday, September 9th. ValuEngine raised Mallinckrodt from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of Mallinckrodt in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Mallinckrodt presently has a consensus rating of “Hold” and a consensus target price of $10.19.

The stock has a market capitalization of $290.96 million, a price-to-earnings ratio of 0.43, a PEG ratio of 0.05 and a beta of 2.59. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.07 and a quick ratio of 0.86. The business has a fifty day moving average of $3.19 and a 200 day moving average of $5.32.

Mallinckrodt (NYSE:MNK) last posted its earnings results on Tuesday, November 5th. The company reported $2.07 earnings per share (EPS) for the quarter, topping 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 company had revenue of $743.70 million during the quarter, compared to analysts’ expectations of $770.56 million. During the same quarter last year, the firm earned $2.10 earnings per share. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. On average, equities research analysts expect that Mallinckrodt PLC will post 8.59 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in Mallinckrodt by 1,239.3% in the 2nd quarter. Parallel Advisors LLC now owns 3,000 shares of the company’s stock valued at $28,000 after buying an additional 2,776 shares during the period. Coastal Capital Group Inc. acquired a new stake in shares of Mallinckrodt during the second quarter valued at about $31,000. Quantamental Technologies LLC purchased a new stake in shares of Mallinckrodt in the 2nd quarter valued at approximately $84,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Mallinckrodt by 151.0% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,173 shares of the company’s stock valued at $84,000 after acquiring an additional 5,519 shares during the period. Finally, Teza Capital Management LLC purchased a new stake in shares of Mallinckrodt in the 2nd quarter valued at approximately $92,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

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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