Mallinckrodt (MNK) PT Raised to $20.00 at Barclays

Mallinckrodt (NYSE:MNK) had its price objective increased by equities researchers at Barclays from $12.00 to $20.00 in a research report issued on Wednesday. The brokerage presently has an “underweight” rating on the stock. Barclays’ price objective would suggest a potential downside of 35.30% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Cantor Fitzgerald set a $42.00 price target on Mallinckrodt and gave the company a “buy” rating in a research note on Monday, April 30th. Piper Jaffray Companies reiterated a “buy” rating and issued a $39.00 price target on shares of Mallinckrodt in a research note on Wednesday. Morgan Stanley dropped their price target on Mallinckrodt from $27.00 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 9th. Mizuho restated a “hold” rating and issued a $15.00 price objective on shares of Mallinckrodt in a report on Friday, April 20th. Finally, Stifel Nicolaus downgraded Mallinckrodt from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a report on Thursday, April 12th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $30.95.

Shares of Mallinckrodt traded up $0.21, reaching $30.91, during trading hours on Wednesday, according to MarketBeat Ratings. The stock had a trading volume of 206,089 shares, compared to its average volume of 3,056,218. Mallinckrodt has a 12 month low of $11.65 and a 12 month high of $41.70. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 4.08, a PEG ratio of 0.45 and a beta of 1.36. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.90 and a current ratio of 2.27.

Mallinckrodt (NYSE:MNK) last announced its quarterly earnings results on Tuesday, August 7th. The company reported $1.78 EPS for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.30. Mallinckrodt had a return on equity of 10.39% and a net margin of 59.85%. The company had revenue of $631.70 million during the quarter, compared to analysts’ expectations of $621.15 million. equities analysts forecast that Mallinckrodt will post 6.6 EPS for the current year.

In related news, insider Mark Trudeau acquired 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 16th. The stock was acquired at an average cost of $15.54 per share, for a total transaction of $46,620.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Scopia Capital Management LP grew its holdings in Mallinckrodt by 111.2% during the 1st quarter. Scopia Capital Management LP now owns 8,626,365 shares of the company’s stock worth $124,910,000 after acquiring an additional 4,541,078 shares during the period. CIBC World Markets Inc. grew its stake in shares of Mallinckrodt by 94.2% in the 1st quarter. CIBC World Markets Inc. now owns 19,854 shares of the company’s stock worth $287,000 after buying an additional 9,631 shares in the last quarter. Engineers Gate Manager LP grew its stake in shares of Mallinckrodt by 451.7% in the 1st quarter. Engineers Gate Manager LP now owns 361,720 shares of the company’s stock worth $5,238,000 after buying an additional 296,156 shares in the last quarter. Bayesian Capital Management LP purchased a new position in shares of Mallinckrodt in the 1st quarter worth $1,352,000. Finally, Balasa Dinverno & Foltz LLC purchased a new position in shares of Mallinckrodt in the 2nd quarter worth $200,000.

Mallinckrodt Company Profile

Mallinckrodt public limited company develops, manufactures, markets, and distributes branded pharmaceutical products in Canada and the European Union, as well as in Latin American, the Middle Eastern, African, and the Asia-Pacific regions. The company markets branded pharmaceutical products for autoimmune and rare diseases in the specialty areas of neurology, rheumatology, nephrology, ophthalmology, and pulmonology; and immunotherapy and neonatal respiratory critical care therapies, as well as analgesics and gastrointestinal products.

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