Mallinckrodt (NYSE:MNK) Upgraded by ValuEngine to Hold

ValuEngine upgraded shares of Mallinckrodt (NYSE:MNK) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning, ValuEngine reports.

MNK has been the topic of several other reports. Jefferies Financial Group set a $2.00 price objective on Mallinckrodt and gave the company a hold rating in a research report on Friday, September 6th. SunTrust Banks reduced 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 decreased their price objective on Mallinckrodt from $20.00 to $8.00 and set a hold rating on the stock in a report on Monday, September 9th. Leerink Swann set a $2.00 target price on Mallinckrodt and gave the company a hold rating in a research report on Friday, September 6th. Finally, Wells Fargo & Co restated a hold rating on shares of Mallinckrodt in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Mallinckrodt presently has an average rating of Hold and a consensus target price of $10.19.

MNK traded up $0.04 during trading on Tuesday, hitting $3.68. The company’s stock had a trading volume of 14,596 shares, compared to its average volume of 7,165,961. The firm has a market cap of $317.03 million, a PE ratio of 0.46, a P/E/G ratio of 0.05 and a beta of 2.59. The company has a quick ratio of 0.86, a current ratio of 1.07 and a debt-to-equity ratio of 1.64. The business’s 50 day simple moving average is $3.11 and its 200-day simple moving average is $5.50. Mallinckrodt has a one year low of $1.43 and a one year high of $27.33.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its holdings in shares of 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 acquiring an additional 2,776 shares during the last quarter. Coastal Capital Group Inc. purchased a new stake in shares of Mallinckrodt in the second quarter worth about $31,000. Quantamental Technologies LLC purchased a new position in Mallinckrodt during the second quarter valued at approximately $84,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in 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 worth $84,000 after purchasing an additional 5,519 shares in the last quarter. Finally, Teza Capital Management LLC acquired a new stake in shares of Mallinckrodt during the 2nd quarter worth approximately $92,000. 92.05% of the stock is owned by hedge funds and other institutional investors.

Mallinckrodt Company Profile

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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