Mallinckrodt PLC (NYSE:MNK) fell 5.5% during mid-day trading on Monday . The stock traded as low as $15.00 and last traded at $15.20. 3,710,645 shares were traded during trading, a decline of 8% from the average session volume of 4,054,167 shares. The stock had previously closed at $16.09.
Several brokerages have recently issued reports on MNK. Oppenheimer restated a “hold” rating on shares of Mallinckrodt in a research note on Tuesday, February 27th. Wells Fargo set a $18.00 price target on shares of Mallinckrodt and gave the stock a “hold” rating in a research note on Friday, March 16th. Zacks Investment Research upgraded shares of Mallinckrodt from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Goldman Sachs restated a “hold” rating on shares of Mallinckrodt in a research note on Monday, January 1st. Finally, Canaccord Genuity set a $24.00 price target on shares of Mallinckrodt and gave the stock a “hold” rating in a research note on Tuesday, December 26th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. Mallinckrodt presently has an average rating of “Hold” and an average target price of $38.50.
The firm has a market cap of $1,389.38, a price-to-earnings ratio of 0.65, a P/E/G ratio of 0.34 and a beta of 1.06. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.18 and a quick ratio of 1.85.
Mallinckrodt (NYSE:MNK) last released its quarterly earnings data on Tuesday, February 27th. The company reported $2.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.29. The company had revenue of $792.30 million during the quarter, compared to the consensus estimate of $769.91 million. Mallinckrodt had a net margin of 66.25% and a return on equity of 13.43%. Mallinckrodt’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period last year, the firm earned $1.91 EPS. equities research analysts predict that Mallinckrodt PLC will post 6.22 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new position in Mallinckrodt in the 4th quarter valued at $129,000. Amundi Pioneer Asset Management Inc. bought a new position in Mallinckrodt in the 4th quarter valued at $190,000. Shelton Capital Management bought a new position in Mallinckrodt in the 3rd quarter valued at $205,000. Sciencast Management LP bought a new position in Mallinckrodt in the 4th quarter valued at $210,000. Finally, CIBC World Markets Inc. bought a new position in Mallinckrodt in the 4th quarter valued at $231,000. 97.38% of the stock is owned by institutional investors.
WARNING: “Mallinckrodt (MNK) Trading Down 5.5%” was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another publication, it was illegally copied and republished in violation of U.S. and international copyright and trademark laws. The original version of this story can be viewed at https://ledgergazette.com/2018/03/21/mallinckrodt-mnk-trading-down-5-5.html.
Mallinckrodt Company Profile
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.
Receive News & Ratings for Mallinckrodt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mallinckrodt and related companies with MarketBeat.com's FREE daily email newsletter.