Mallinckrodt (MNK) Given a $42.00 Price Target at Cantor Fitzgerald

Cantor Fitzgerald set a $42.00 price objective on Mallinckrodt (NYSE:MNK) in a research note issued to investors on Tuesday. The firm currently has a buy rating on the stock.

Several other research analysts have also issued reports on MNK. Goldman Sachs Group reiterated a hold rating on shares of Mallinckrodt in a research note on Tuesday. Canaccord Genuity set a $24.00 price objective on Mallinckrodt and gave the stock a hold rating in a research note on Tuesday. Wells Fargo & Co reiterated a hold rating on shares of Mallinckrodt in a research note on Tuesday. Barclays set a $23.00 price objective on Mallinckrodt and gave the stock a hold rating in a research note on Tuesday, December 12th. Finally, UBS Group lowered Mallinckrodt from a buy rating to a neutral rating and dropped their price objective for the stock from $70.00 to $24.00 in a research note on Sunday, November 26th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. Mallinckrodt presently has a consensus rating of Hold and a consensus target price of $47.64.

Mallinckrodt (MNK) opened at $23.48 on Tuesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.38 and a quick ratio of 1.05. The company has a market capitalization of $2,215.51, a price-to-earnings ratio of 6.35, a P/E/G ratio of 0.42 and a beta of 1.30. Mallinckrodt has a 12 month low of $19.00 and a 12 month high of $55.32.

Mallinckrodt (NYSE:MNK) last issued its earnings results on Tuesday, November 7th. The company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.17. The business had revenue of $793.90 million during the quarter, compared to analyst estimates of $808.93 million. Mallinckrodt had a return on equity of 14.79% and a net margin of 11.43%. Mallinckrodt’s revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.04 earnings per share. research analysts predict that Mallinckrodt will post 7.2 EPS for the current fiscal year.

In other Mallinckrodt news, General Counsel Michael-Bryant Hicks bought 7,900 shares of the stock in a transaction dated Thursday, November 9th. The stock was bought at an average cost of $20.80 per share, for a total transaction of $164,320.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David R. Carlucci bought 10,000 shares of the stock in a transaction dated Thursday, November 9th. The stock was acquired at an average price of $21.83 per share, with a total value of $218,300.00. Following the completion of the purchase, the director now owns 26,020 shares of the company’s stock, valued at approximately $568,016.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 30,460 shares of company stock valued at $659,486. 0.53% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Sentry Investment Management LLC boosted its holdings in 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 acquiring an additional 817 shares during the last quarter. QS Investors LLC boosted its holdings in 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 acquiring an additional 923 shares during the last quarter. Accident Compensation Corp boosted its holdings in 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 acquiring an additional 1,000 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in Mallinckrodt by 24.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 5,640 shares of the company’s stock valued at $253,000 after acquiring an additional 1,110 shares during the last quarter. Finally, Alps Advisors Inc. boosted its holdings in Mallinckrodt by 22.3% in the second quarter. Alps Advisors Inc. now owns 6,465 shares of the company’s stock valued at $290,000 after acquiring an additional 1,179 shares during the last quarter. 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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