Mallinckrodt (NYSE:MNK) PT Lowered to $8.00

Mallinckrodt (NYSE:MNK) had its price objective reduced by Stifel Nicolaus from $20.00 to $8.00 in a research report sent to investors on Monday morning, BenzingaRatingsTable reports. They currently have a hold rating on the stock.

MNK has been the subject of several other research reports. Wells Fargo & Co reduced their price objective on shares of Mallinckrodt from $25.00 to $11.00 and set a market perform rating for the company in a research note on Thursday, June 6th. Canaccord Genuity reduced their price objective on shares of Mallinckrodt from $37.00 to $22.00 and set a buy rating for the company in a research note on Friday, June 14th. BMO Capital Markets reiterated a market perform rating on shares of Mallinckrodt in a research note on Thursday, September 5th. JPMorgan Chase & Co. reduced their price objective on shares of Mallinckrodt from $22.00 to $11.00 and set a neutral rating for the company in a research note on Friday, May 24th. Finally, Morgan Stanley set a $5.00 price objective on shares of Mallinckrodt and gave the company a hold rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $10.19.

Shares of NYSE:MNK opened at $2.99 on Monday. The company has a market cap of $176.42 million, a price-to-earnings ratio of 0.37, a PEG ratio of 0.02 and a beta of 2.42. The firm’s 50-day simple moving average is $4.57 and its 200-day simple moving average is $12.66. The company has a quick ratio of 0.57, a current ratio of 0.78 and a debt-to-equity ratio of 1.57. Mallinckrodt has a fifty-two week low of $1.43 and a fifty-two week high of $32.50.



Mallinckrodt (NYSE:MNK) last issued its earnings results on Tuesday, August 6th. The company reported $2.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.10 by $0.43. The business had revenue of $823.30 million for the quarter, compared to the consensus estimate of $817.55 million. Mallinckrodt had a negative net margin of 111.46% and a positive return on equity of 18.96%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.16 earnings per share. On average, research analysts forecast that Mallinckrodt will post 8.49 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in MNK. Morgan Stanley raised its position in Mallinckrodt by 1,395.5% during the second quarter. Morgan Stanley now owns 3,275,676 shares of the company’s stock worth $30,071,000 after acquiring an additional 3,056,636 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in Mallinckrodt during the first quarter worth about $47,464,000. Vanguard Group Inc. raised its position in Mallinckrodt by 18.4% during the second quarter. Vanguard Group Inc. now owns 9,809,305 shares of the company’s stock worth $90,049,000 after acquiring an additional 1,527,591 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Mallinckrodt by 128.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,794,821 shares of the company’s stock worth $16,476,000 after acquiring an additional 1,009,745 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Mallinckrodt by 15.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,357,117 shares of the company’s stock worth $100,443,000 after acquiring an additional 840,414 shares during the last quarter.

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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