Canaccord Genuity Reiterates $24.00 Price Target for Mallinckrodt Public Limited Company (MNK)

Canaccord Genuity set a $24.00 price objective on Mallinckrodt Public Limited Company (NYSE:MNK) in a research report report published on Tuesday morning. The brokerage currently has a hold rating on the stock.

A number of other brokerages also recently issued reports on MNK. Oppenheimer Holdings, Inc. set a $70.00 target price on Mallinckrodt Public Limited and gave the stock a buy rating in a research note on Friday, July 28th. Zacks Investment Research raised Mallinckrodt Public Limited from a sell rating to a hold rating in a research note on Thursday, July 27th. BMO Capital Markets reissued a buy rating and set a $69.00 target price on shares of Mallinckrodt Public Limited in a research note on Friday, July 28th. Jefferies Group LLC reissued a buy rating and set a $70.00 target price on shares of Mallinckrodt Public Limited in a research note on Thursday, August 3rd. Finally, ValuEngine downgraded Mallinckrodt Public Limited from a buy rating to a hold rating in a research note on Friday, September 1st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $48.14.

Shares of Mallinckrodt Public Limited (MNK) traded down $0.07 during mid-day trading on Tuesday, hitting $22.38. The stock had a trading volume of 2,567,126 shares, compared to its average volume of 2,521,251. The stock has a market cap of $2,130.00, a P/E ratio of 2.93, a price-to-earnings-growth ratio of 0.32 and a beta of 1.46. Mallinckrodt Public Limited has a fifty-two week low of $19.00 and a fifty-two week high of $58.09. The company has a current ratio of 1.38, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08.

Mallinckrodt Public Limited (NYSE:MNK) last issued its earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.17. The business had revenue of $793.90 million during the quarter, compared to the consensus estimate of $808.93 million. Mallinckrodt Public Limited had a return on equity of 5.05% and a net margin of 8.10%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.04 EPS. analysts expect that Mallinckrodt Public Limited will post 7.23 earnings per share for the current year.

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In other Mallinckrodt Public Limited news, insider Meredith B. Fischer acquired 1,280 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were acquired at an average price of $39.63 per share, for a total transaction of $50,726.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Trudeau acquired 5,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were acquired at an average price of $22.28 per share, for a total transaction of $111,400.00. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 27,180 shares of company stock worth $610,166. 0.77% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its holdings in shares of Mallinckrodt Public Limited by 1.3% during the second quarter. Meeder Asset Management Inc. now owns 15,900 shares of the company’s stock worth $712,000 after purchasing an additional 209 shares during the last quarter. Xact Kapitalforvaltning AB boosted its holdings in shares of Mallinckrodt Public Limited by 4.6% during the second quarter. Xact Kapitalforvaltning AB now owns 8,525 shares of the company’s stock worth $382,000 after purchasing an additional 374 shares during the last quarter. Sentry Investment Management LLC boosted its holdings in shares of Mallinckrodt Public Limited by 1.6% during the second quarter. Sentry Investment Management LLC now owns 52,676 shares of the company’s stock worth $2,360,000 after purchasing an additional 817 shares during the last quarter. QS Investors LLC boosted its holdings in shares of Mallinckrodt Public Limited by 10.8% during the second quarter. QS Investors LLC now owns 9,477 shares of the company’s stock worth $425,000 after purchasing an additional 923 shares during the last quarter. Finally, Accident Compensation Corp boosted its holdings in shares of Mallinckrodt Public Limited by 2.7% during the second quarter. Accident Compensation Corp now owns 38,390 shares of the company’s stock worth $1,720,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 98.83% of the company’s stock.

About Mallinckrodt Public Limited

Mallinckrodt public limited company develops, manufactures, markets and distributes branded and generic specialty pharmaceutical products and therapies. The Company focuses on various therapeutic areas, such as autoimmune and rare disease specialty areas, including neurology, rheumatology, nephrology, ophthalmology and pulmonology; immunotherapy and neonatal critical care respiratory therapies; analgesics and hemostasis products, and central nervous system drugs.

Analyst Recommendations for Mallinckrodt Public Limited (NYSE:MNK)

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