Mallinckrodt (NYSE:MNK) Trading Up 9%

Mallinckrodt PLC (NYSE:MNK)’s share price was up 9% on Thursday . The stock traded as high as $6.25 and last traded at $6.15, approximately 4,905,121 shares were traded during mid-day trading. An increase of 87% from the average daily volume of 2,616,219 shares. The stock had previously closed at $5.64.

A number of research analysts recently commented on the stock. BMO Capital Markets set a $19.00 price objective on shares of Mallinckrodt and gave the company a “buy” rating in a research report on Wednesday. Mizuho lowered their price objective on shares of Mallinckrodt from $22.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 28th. JPMorgan Chase & Co. lowered their price objective on shares of Mallinckrodt from $22.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Jefferies Financial Group lowered their price objective on shares of Mallinckrodt from $15.00 to $10.00 and set a “reduce” rating on the stock in a research report on Thursday, July 11th. Finally, Stifel Nicolaus set a $20.00 price objective on shares of Mallinckrodt and gave the company a “hold” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Mallinckrodt has an average rating of “Hold” and a consensus target price of $16.94.

The company has a quick ratio of 1.08, a current ratio of 0.78 and a debt-to-equity ratio of 1.57. The firm has a market cap of $472.71 million, a PE ratio of 0.66, a price-to-earnings-growth ratio of 0.05 and a beta of 2.29. The business’s 50 day moving average is $7.72.

Mallinckrodt (NYSE:MNK) last posted its earnings results on Tuesday, August 6th. The company reported $2.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.10 by $0.43. The firm had revenue of $823.30 million during the quarter, compared to analysts’ expectations of $817.55 million. Mallinckrodt had a negative net margin of 111.46% and a positive return on equity of 18.96%. The company’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.16 earnings per share. Research analysts predict that Mallinckrodt PLC will post 8.51 EPS for the current year.

In other Mallinckrodt news, CFO Bryan M. Reasons bought 5,400 shares of Mallinckrodt stock in a transaction on Friday, June 7th. The stock was purchased at an average cost of $8.96 per share, for a total transaction of $48,384.00. Following the completion of the purchase, the chief financial officer now directly owns 17,979 shares of the company’s stock, valued at $161,091.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.70% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of MNK. Dimensional Fund Advisors LP lifted its stake in shares of Mallinckrodt by 15.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,357,117 shares of the company’s stock worth $100,443,000 after buying an additional 840,414 shares during the last quarter. LSV Asset Management lifted its stake in shares of Mallinckrodt by 1.4% in the first quarter. LSV Asset Management now owns 4,149,268 shares of the company’s stock worth $90,205,000 after buying an additional 58,300 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in shares of Mallinckrodt in the first quarter worth $47,464,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Mallinckrodt by 128.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,794,821 shares of the company’s stock worth $16,476,000 after buying an additional 1,009,745 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Mallinckrodt in the fourth quarter worth $26,615,000.

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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