BMO Capital Markets Reiterates $19.00 Price Target for Mallinckrodt (NYSE:MNK)

BMO Capital Markets set a $19.00 price objective on Mallinckrodt (NYSE:MNK) in a report issued on Wednesday morning, TipRanks reports. The brokerage currently has a buy rating on the stock.

MNK has been the topic of several other research reports. Jefferies Financial Group decreased their target price on Mallinckrodt from $15.00 to $10.00 and set a reduce rating on the stock in a research note on Thursday, July 11th. Mizuho decreased their target price on Mallinckrodt from $22.00 to $13.00 and set a neutral rating on the stock in a research note on Tuesday, May 28th. Barclays began coverage on Mallinckrodt in a research note on Tuesday, June 11th. They set an equal weight rating and a $11.00 target price on the stock. Berenberg Bank reissued a sell rating and set a $5.00 target price (down previously from $10.00) on shares of Mallinckrodt in a research note on Tuesday, May 21st. Finally, SunTrust Banks set a $20.00 target price on Mallinckrodt and gave the stock a hold rating in a research note on Tuesday, May 14th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $16.94.

Shares of Mallinckrodt stock traded down $0.84 during trading hours on Wednesday, hitting $5.31. The company’s stock had a trading volume of 6,956,846 shares, compared to its average volume of 4,048,524. Mallinckrodt has a twelve month low of $5.12 and a twelve month high of $36.65. The company’s fifty day simple moving average is $7.72. The company has a market cap of $516.65 million, a PE ratio of 0.66, a price-to-earnings-growth ratio of 0.06 and a beta of 2.29. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.08 and a current ratio of 0.78.

Mallinckrodt (NYSE:MNK) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $2.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.10 by $0.43. Mallinckrodt had a positive return on equity of 18.96% and a negative net margin of 111.46%. The business had revenue of $823.30 million for the quarter, compared to analyst estimates of $817.55 million. During the same quarter in the prior year, the company posted $2.16 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. Equities analysts predict that Mallinckrodt will post 8.51 earnings per share for the current year.

In related news, CFO Bryan M. Reasons purchased 5,400 shares of the business’s stock in a transaction on Friday, June 7th. The shares were bought at an average price of $8.96 per share, for a total transaction of $48,384.00. Following the acquisition, the chief financial officer now directly owns 17,979 shares in the company, valued at $161,091.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.70% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC increased its holdings in Mallinckrodt by 222.8% during the 1st quarter. CWM LLC now owns 1,159 shares of the company’s stock worth $25,000 after purchasing an additional 800 shares during the period. Parallel Advisors LLC increased its holdings in Mallinckrodt by 1,239.3% during the 2nd quarter. Parallel Advisors LLC now owns 3,000 shares of the company’s stock worth $28,000 after purchasing an additional 2,776 shares during the period. Coastal Capital Group Inc. purchased a new stake in Mallinckrodt during the 2nd quarter worth about $31,000. Anderson Fisher LLC increased its holdings in Mallinckrodt by 1,129.1% during the 1st quarter. Anderson Fisher LLC now owns 5,285 shares of the company’s stock worth $115,000 after purchasing an additional 4,855 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Mallinckrodt by 724.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 5,617 shares of the company’s stock valued at $122,000 after acquiring an additional 4,936 shares during the last quarter.

About Mallinckrodt

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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Analyst Recommendations for Mallinckrodt (NYSE:MNK)

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