Deutsche Bank AG cut shares of Mallinckrodt PLC (NYSE:MNK) from a buy rating to a hold rating in a research note issued to investors on Tuesday, Marketbeat.com reports. Deutsche Bank AG currently has $28.00 price target on the stock, down from their previous price target of $44.00.
A number of other research analysts also recently commented on MNK. Zacks Investment Research downgraded Mallinckrodt PLC from a hold rating to a sell rating in a report on Tuesday, July 11th. Canaccord Genuity set a $87.00 target price on Mallinckrodt PLC and gave the stock a buy rating in a report on Monday, July 17th. Piper Jaffray Companies set a $85.00 target price on Mallinckrodt PLC and gave the stock a buy rating in a report on Sunday, July 16th. Oppenheimer Holdings, Inc. set a $70.00 target price on Mallinckrodt PLC and gave the stock a buy rating in a report on Friday, July 28th. Finally, BMO Capital Markets reaffirmed a buy rating and set a $69.00 target price on shares of Mallinckrodt PLC in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $50.44.
Mallinckrodt PLC (NYSE MNK) traded down $0.44 during trading hours on Tuesday, reaching $21.76. The company’s stock had a trading volume of 5,866,300 shares, compared to its average volume of 2,489,536. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.08. Mallinckrodt PLC has a 52 week low of $19.00 and a 52 week high of $68.12. The company has a market cap of $2,109.11, a P/E ratio of 3.00, a PEG ratio of 0.33 and a beta of 1.46.
Mallinckrodt PLC (NYSE:MNK) last released its earnings results on Tuesday, November 7th. The company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.17. Mallinckrodt PLC had a return on equity of 14.79% and a net margin of 11.43%. The company had revenue of $793.90 million for the quarter, compared to the consensus estimate of $808.93 million. During the same quarter last year, the business posted $2.04 EPS. Mallinckrodt PLC’s quarterly revenue was down 10.5% compared to the same quarter last year. analysts anticipate that Mallinckrodt PLC will post 7.26 earnings per share for the current fiscal year.
In other Mallinckrodt PLC news, insider Meredith B. Fischer bought 1,280 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were purchased at an average cost of $39.63 per share, for a total transaction of $50,726.40. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.77% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of MNK. Denali Advisors LLC acquired a new position in shares of Mallinckrodt PLC during the 2nd quarter valued at $112,000. Sterling Capital Management LLC acquired a new position in shares of Mallinckrodt PLC during the 2nd quarter valued at $204,000. Advisor Partners LLC acquired a new position in shares of Mallinckrodt PLC during the 2nd quarter valued at $242,000. Municipal Employees Retirement System of Michigan increased its position in shares of Mallinckrodt PLC by 24.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 5,640 shares of the company’s stock valued at $253,000 after purchasing an additional 1,110 shares during the period. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of Mallinckrodt PLC during the 2nd quarter valued at $260,000. Institutional investors own 97.96% of the company’s stock.
About Mallinckrodt PLC
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.
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