Mallinckrodt (NYSE:MNK) Stock Price Up 6.6%

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

MNK has been the subject of a number of research reports. SunTrust Banks reduced their price target on shares of Mallinckrodt to $7.00 and set a “positive” rating for the company in a report on Monday, August 12th. Wells Fargo & Co reissued a “hold” rating on shares of Mallinckrodt in a report on Wednesday, October 9th. Jefferies Financial Group set a $2.00 price target on shares of Mallinckrodt and gave the company a “hold” rating in a report on Friday, September 6th. Morgan Stanley set a $5.00 price target on shares of Mallinckrodt and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Leerink Swann set a $2.00 price target on shares of Mallinckrodt and gave the company a “hold” rating in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $10.19.

The business’s fifty day moving average price is $3.11 and its 200 day moving average price is $5.50. The company has a market capitalization of $326.27 million, a P/E ratio of 0.48, a P/E/G ratio of 0.05 and a beta of 2.59. The company has a current ratio of 1.07, a quick ratio of 0.86 and a debt-to-equity ratio of 1.64.

Mallinckrodt (NYSE:MNK) last released its quarterly earnings data on Tuesday, November 5th. The company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.09. The company had revenue of $743.70 million during the quarter, compared to the consensus estimate of $770.56 million. Mallinckrodt had a negative net margin of 111.44% and a positive return on equity of 24.36%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period last year, the firm earned $2.10 EPS. Equities research analysts anticipate that Mallinckrodt PLC will post 8.59 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. United Services Automobile Association lifted its holdings in shares of Mallinckrodt by 6.0% during the 2nd quarter. United Services Automobile Association now owns 146,300 shares of the company’s stock worth $1,343,000 after acquiring an additional 8,246 shares during the period. Hancock Whitney Corp bought a new position in Mallinckrodt during the 2nd quarter valued at about $262,000. Vanguard Group Inc. lifted its holdings in Mallinckrodt by 18.4% during the 2nd quarter. Vanguard Group Inc. now owns 9,809,305 shares of the company’s stock valued at $90,049,000 after purchasing an additional 1,527,591 shares during the last quarter. Capital Fund Management S.A. lifted its holdings in Mallinckrodt by 174.2% during the 2nd quarter. Capital Fund Management S.A. now owns 348,174 shares of the company’s stock valued at $3,196,000 after purchasing an additional 221,174 shares during the last quarter. Finally, Lincoln Capital Corp bought a new position in Mallinckrodt during the 3rd quarter valued at about $48,000. 92.05% of the stock is owned by institutional investors.

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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