Mallinckrodt’s (MNK) Outperform Rating Reiterated at BMO Capital Markets

BMO Capital Markets reissued their outperform rating on shares of Mallinckrodt (NYSE:MNK) in a research note released on Wednesday, The Fly reports. The brokerage currently has a $23.00 price target on the stock.

Other equities research analysts have also issued reports about the stock. Canaccord Genuity set a $40.00 price target on shares of Mallinckrodt and gave the company a buy rating in a report on Monday, March 18th. Jefferies Financial Group lowered shares of Mallinckrodt from a buy rating to a hold rating and lowered their price target for the company from $25.00 to $15.00 in a report on Wednesday. Morgan Stanley set a $32.00 price target on shares of Mallinckrodt and gave the company a hold rating in a report on Thursday, February 28th. ValuEngine raised shares of Mallinckrodt from a sell rating to a hold rating in a report on Monday, February 4th. Finally, SunTrust Banks set a $20.00 price target on shares of Mallinckrodt and gave the company a hold rating in a report on Tuesday, May 14th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $26.72.

NYSE:MNK opened at $9.61 on Wednesday. Mallinckrodt has a one year low of $8.45 and a one year high of $36.65. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.08 and a current ratio of 1.45. The firm has a market capitalization of $805.45 million, a price-to-earnings ratio of 1.20, a price-to-earnings-growth ratio of 0.10 and a beta of 2.12.

Mallinckrodt (NYSE:MNK) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.73 by $0.21. Mallinckrodt had a negative net margin of 118.53% and a positive return on equity of 14.22%. The company had revenue of $791.00 million for the quarter, compared to analyst estimates of $766.27 million. During the same period in the prior year, the company earned $1.31 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts anticipate that Mallinckrodt will post 8.38 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. CWM LLC raised its position in shares of Mallinckrodt by 222.8% in the first quarter. CWM LLC now owns 1,159 shares of the company’s stock worth $25,000 after acquiring an additional 800 shares during the period. FNY Investment Advisers LLC raised its position in shares of Mallinckrodt by 210.4% in the fourth quarter. FNY Investment Advisers LLC now owns 2,288 shares of the company’s stock worth $36,000 after acquiring an additional 1,551 shares during the period. We Are One Seven LLC acquired a new position in shares of Mallinckrodt in the fourth quarter worth about $38,000. QS Investors LLC raised its position in shares of Mallinckrodt by 14.3% in the fourth quarter. QS Investors LLC now owns 4,000 shares of the company’s stock worth $64,000 after acquiring an additional 500 shares during the period. Finally, Quantamental Technologies LLC acquired a new position in shares of Mallinckrodt in the fourth quarter worth about $80,000.

About Mallinckrodt

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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Analyst Recommendations for Mallinckrodt (NYSE:MNK)

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