Several other equities analysts have also recently weighed in on MNK. Mizuho lowered their price objective on shares of Mallinckrodt from $22.00 to $13.00 and set a neutral rating on the stock in a research note on Tuesday, May 28th. BMO Capital Markets reiterated a market perform rating on shares of Mallinckrodt in a research note on Thursday, September 5th. Piper Jaffray Companies cut shares of Mallinckrodt from an overweight rating to a neutral rating and lowered their price objective for the stock from $39.00 to $9.00 in a research note on Thursday, May 30th. ValuEngine upgraded shares of Mallinckrodt from a hold rating to a buy rating in a research note on Tuesday. Finally, Cantor Fitzgerald set a $18.00 price objective on shares of Mallinckrodt and gave the stock a buy rating in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Hold and an average price target of $10.19.
Shares of NYSE:MNK traded up $0.09 during midday trading on Tuesday, reaching $3.08. The company’s stock had a trading volume of 118,912 shares, compared to its average volume of 11,905,633. The firm has a 50 day moving average of $4.57 and a 200-day moving average of $12.66. The firm has a market capitalization of $325.95 million, a P/E ratio of 0.39, a PEG ratio of 0.04 and a beta of 2.42. 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 12-month low of $1.43 and a 12-month high of $32.50.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNK. Morgan Stanley raised its stake in Mallinckrodt by 1,395.5% during the 2nd 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 period. MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in Mallinckrodt during the 1st quarter worth approximately $47,464,000. Vanguard Group Inc. raised its stake in Mallinckrodt by 18.4% during the 2nd 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 period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Mallinckrodt by 128.6% during the 2nd 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 period. Finally, Dimensional Fund Advisors LP raised its stake in Mallinckrodt by 15.2% during the 4th 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 period.
Mallinckrodt Company Profile
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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