Mallinckrodt (MNK) Trading Up 5.1%

Mallinckrodt (NYSE:MNK)’s share price was up 5.1% on Monday . The company traded as high as $15.94 and last traded at $15.65. Approximately 4,331,762 shares were traded during mid-day trading, an increase of 15% from the average daily volume of 3,776,823 shares. The stock had previously closed at $14.89.

A number of equities analysts recently weighed in on MNK shares. Leerink Swann reduced their price target on Mallinckrodt and set a “market perform” rating for the company in a report on Monday, April 23rd. ValuEngine cut Mallinckrodt from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. Barclays cut Mallinckrodt from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $23.00 to $20.00 in a report on Friday, February 2nd. Cantor Fitzgerald set a $42.00 price target on Mallinckrodt and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, Wells Fargo reaffirmed a “hold” rating on shares of Mallinckrodt in a report on Thursday, April 12th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $31.26.

The company has a quick ratio of 1.90, a current ratio of 2.10 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $1.24 billion, a P/E ratio of 2.09, a P/E/G ratio of 0.37 and a beta of 1.13.

Mallinckrodt (NYSE:MNK) last posted its quarterly earnings data on Tuesday, May 8th. The company reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.23. Mallinckrodt had a return on equity of 11.59% and a net margin of 57.56%. The company had revenue of $572.60 million during the quarter, compared to analyst estimates of $568.78 million. During the same period in the previous year, the business earned $1.04 EPS. Mallinckrodt’s quarterly revenue was up 2.2% on a year-over-year basis. analysts expect that Mallinckrodt will post 6.26 EPS for the current year.

In other news, insider James E. Flynn sold 312,928 shares of the company’s stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $13.39, for a total value of $4,190,105.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Seven Eight Capital LP grew its position in shares of Mallinckrodt by 142.0% in the first quarter. Seven Eight Capital LP now owns 385,317 shares of the company’s stock valued at $5,579,000 after purchasing an additional 226,101 shares in the last quarter. OppenheimerFunds Inc. grew its position in shares of Mallinckrodt by 44.9% in the first quarter. OppenheimerFunds Inc. now owns 58,629 shares of the company’s stock valued at $849,000 after purchasing an additional 18,167 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Mallinckrodt in the first quarter valued at approximately $1,299,000. Stifel Financial Corp grew its position in shares of Mallinckrodt by 154.2% in the first quarter. Stifel Financial Corp now owns 52,693 shares of the company’s stock valued at $751,000 after purchasing an additional 31,966 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Mallinckrodt by 67.6% in the first quarter. Russell Investments Group Ltd. now owns 143,344 shares of the company’s stock valued at $2,071,000 after purchasing an additional 57,806 shares in the last quarter.

About Mallinckrodt

Mallinckrodt public limited company develops, manufactures, markets, and distributes branded pharmaceutical products in Canada and the European Union, as well as in Latin American, the Middle Eastern, African, and the Asia-Pacific regions. The company markets branded pharmaceutical products for autoimmune and rare diseases in the specialty areas of neurology, rheumatology, nephrology, ophthalmology, and pulmonology; and immunotherapy and neonatal respiratory critical care therapies, as well as analgesics and gastrointestinal products.

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