Mallinckrodt (NYSE:MNK) Trading Up 12.3%

Mallinckrodt PLC (NYSE:MNK) shares were up 12.3% during mid-day trading on Monday . The stock traded as high as $4.66 and last traded at $4.58, approximately 4,888,354 shares changed hands during trading. An increase of 77% from the average daily volume of 2,754,501 shares. The stock had previously closed at $4.08.

Several analysts have recently issued reports on MNK shares. Morgan Stanley set a $5.00 price target on shares of Mallinckrodt and gave the stock a “hold” rating in a research report on Friday, August 9th. Canaccord Genuity reduced their price target on shares of Mallinckrodt from $37.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, June 14th. Barclays started coverage on shares of Mallinckrodt in a research report on Tuesday, June 11th. They set an “equal weight” rating and a $11.00 price target on the stock. Stifel Nicolaus set a $20.00 price target on shares of Mallinckrodt and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Finally, Wells Fargo & Co reduced their price target on shares of Mallinckrodt from $25.00 to $11.00 and set a “market perform” rating on the stock in a research report on Thursday, June 6th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Mallinckrodt has an average rating of “Hold” and an average price target of $14.44.

The stock’s 50 day moving average is $6.69 and its two-hundred day moving average is $14.61. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.78 and a quick ratio of 0.57. The stock has a market capitalization of $342.76 million, a PE ratio of 0.58, a price-to-earnings-growth ratio of 0.04 and a beta of 2.29.

Mallinckrodt (NYSE:MNK) last released its earnings results on Tuesday, August 6th. The company reported $2.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.10 by $0.43. Mallinckrodt had a negative net margin of 111.46% and a positive return on equity of 18.96%. The firm had revenue of $823.30 million for the quarter, compared to analyst estimates of $817.55 million. During the same period in the prior year, the firm earned $2.16 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities analysts predict that Mallinckrodt PLC will post 8.48 earnings per share for the current year.

In other news, CFO Bryan M. Reasons bought 5,400 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were purchased at an average cost of $8.96 per share, for a total transaction of $48,384.00. Following the completion of the purchase, the chief financial officer now owns 17,979 shares of the company’s stock, valued at $161,091.84. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in MNK. CWM LLC increased its stake in Mallinckrodt by 222.8% in the first quarter. CWM LLC now owns 1,159 shares of the company’s stock valued at $25,000 after purchasing an additional 800 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Mallinckrodt by 1,239.3% in the second quarter. Parallel Advisors LLC now owns 3,000 shares of the company’s stock valued at $28,000 after acquiring an additional 2,776 shares during the period. Coastal Capital Group Inc. acquired a new stake in shares of Mallinckrodt in the second quarter valued at approximately $31,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Mallinckrodt by 151.0% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,173 shares of the company’s stock valued at $84,000 after acquiring an additional 5,519 shares during the period. Finally, Quantamental Technologies LLC acquired a new stake in shares of Mallinckrodt in the second quarter valued at approximately $84,000.

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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