Mallinckrodt (MNK) Stock Rating Reaffirmed by Mizuho

Mizuho reaffirmed their neutral rating on shares of Mallinckrodt (NYSE:MNK) in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $21.00 target price on the stock, down from their previous target price of $22.00.

Several other equities analysts have also commented on the stock. Piper Jaffray Companies set a $67.00 price target on shares of Mallinckrodt and gave the stock a buy rating in a research report on Saturday, October 21st. Zacks Investment Research raised shares of Mallinckrodt from a sell rating to a hold rating in a research report on Tuesday, October 31st. Goldman Sachs Group started coverage on shares of Mallinckrodt in a research report on Thursday, September 28th. They set a buy rating and a $55.00 price target for the company. Stifel Nicolaus reaffirmed a buy rating on shares of Mallinckrodt in a research report on Friday, October 6th. Finally, Wells Fargo & Co lowered shares of Mallinckrodt from an outperform rating to a market perform rating in a research report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company’s stock. Mallinckrodt currently has a consensus rating of Hold and an average target price of $44.99.

Shares of Mallinckrodt (MNK) traded up $0.60 during mid-day trading on Tuesday, reaching $23.50. 2,473,100 shares of the company traded hands, compared to its average volume of 3,190,000. Mallinckrodt has a 1 year low of $19.00 and a 1 year high of $55.32. The company has a quick ratio of 1.05, a current ratio of 1.38 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $2,230.00, a price-to-earnings ratio of -1,175.00, a price-to-earnings-growth ratio of 0.43 and a beta of 1.30.

Mallinckrodt (NYSE:MNK) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.80 by $0.17. Mallinckrodt had a net margin of 11.43% and a return on equity of 14.79%. The firm had revenue of $793.90 million during the quarter, compared to analyst estimates of $808.93 million. During the same quarter in the prior year, the business posted $2.04 earnings per share. Mallinckrodt’s revenue for the quarter was down 10.5% compared to the same quarter last year. sell-side analysts anticipate that Mallinckrodt will post 7.21 earnings per share for the current fiscal year.

In other news, General Counsel Michael-Bryant Hicks bought 7,900 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was acquired at an average cost of $20.80 per share, for a total transaction of $164,320.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Steven J. Romano bought 2,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was purchased at an average price of $21.96 per share, with a total value of $43,920.00. The disclosure for this purchase can be found here. Insiders bought 30,460 shares of company stock valued at $659,486 over the last 90 days. Insiders own 0.77% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Sentry Investment Management LLC boosted its stake in shares of Mallinckrodt by 1.6% in the second quarter. Sentry Investment Management LLC now owns 52,676 shares of the company’s stock valued at $2,360,000 after purchasing an additional 817 shares during the period. QS Investors LLC boosted its stake in shares of Mallinckrodt by 10.8% in the second quarter. QS Investors LLC now owns 9,477 shares of the company’s stock valued at $425,000 after purchasing an additional 923 shares during the period. Accident Compensation Corp boosted its stake in shares of Mallinckrodt by 2.7% in the second quarter. Accident Compensation Corp now owns 38,390 shares of the company’s stock valued at $1,720,000 after purchasing an additional 1,000 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Mallinckrodt by 27.1% in the third quarter. LS Investment Advisors LLC now owns 9,517 shares of the company’s stock valued at $356,000 after purchasing an additional 2,028 shares during the period. Finally, Advantus Capital Management Inc boosted its stake in shares of Mallinckrodt by 23.7% in the third quarter. Advantus Capital Management Inc now owns 12,286 shares of the company’s stock valued at $459,000 after purchasing an additional 2,352 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

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About Mallinckrodt

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 (NYSE:MNK)

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