A number of other brokerages have also recently commented on MNK. Barclays cut shares of Mallinckrodt from an equal weight rating to an underweight rating and cut their price target for the company from $23.00 to $20.00 in a research report on Friday, February 2nd. Cantor Fitzgerald set a $42.00 price target on shares of Mallinckrodt and gave the company a buy rating in a research report on Tuesday, February 27th. Zacks Investment Research raised shares of Mallinckrodt from a strong sell rating to a hold rating in a research report on Tuesday, January 9th. Goldman Sachs reaffirmed a hold rating on shares of Mallinckrodt in a research report on Monday, January 1st. Finally, Canaccord Genuity set a $20.00 price target on shares of Mallinckrodt and gave the company a hold rating in a research report on Tuesday, March 6th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $33.89.
Shares of Mallinckrodt stock traded down $0.66 during trading on Wednesday, hitting $14.24. The company’s stock had a trading volume of 215,526 shares, compared to its average volume of 3,711,204. The company has a quick ratio of 1.85, a current ratio of 2.18 and a debt-to-equity ratio of 0.98. Mallinckrodt has a 52 week low of $13.64 and a 52 week high of $49.12. The stock has a market cap of $1,296.98, a price-to-earnings ratio of 1.99, a P/E/G ratio of 0.37 and a beta of 1.12.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Macquarie Group Ltd. raised its holdings in shares of Mallinckrodt by 62.7% during the fourth quarter. Macquarie Group Ltd. now owns 58,422 shares of the company’s stock valued at $9,069,000 after purchasing an additional 22,507 shares during the period. LPL Financial LLC acquired a new position in shares of Mallinckrodt during the fourth quarter valued at about $1,718,000. Sciencast Management LP acquired a new position in shares of Mallinckrodt during the fourth quarter valued at about $210,000. Two Sigma Investments LP acquired a new position in shares of Mallinckrodt during the fourth quarter valued at about $30,841,000. Finally, Two Sigma Advisers LP acquired a new position in shares of Mallinckrodt during the fourth quarter valued at about $24,007,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.
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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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