Goldman Sachs Group Lowers Mallinckrodt (MNK) to Sell

Goldman Sachs Group cut shares of Mallinckrodt (NYSE:MNK) from a neutral rating to a sell rating in a research report sent to investors on Tuesday, Marketbeat.com reports. The brokerage currently has $28.00 price target on the stock, up from their prior price target of $27.00.

Other equities research analysts have also issued reports about the stock. Oppenheimer reaffirmed a hold rating on shares of Mallinckrodt in a report on Tuesday, May 15th. Stifel Nicolaus increased their price objective on shares of Mallinckrodt from $15.00 to $18.00 and gave the company a hold rating in a report on Monday, June 18th. SunTrust Banks increased their price objective on shares of Mallinckrodt to $21.00 and gave the company a hold rating in a report on Tuesday, June 19th. B. Riley increased their price objective on shares of Mallinckrodt from $15.00 to $20.00 and gave the company a neutral rating in a report on Thursday, June 28th. Finally, Wells Fargo & Co increased their price objective on shares of Mallinckrodt from $15.00 to $21.00 and gave the company a market perform rating in a report on Monday, July 9th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $32.62.

Mallinckrodt stock opened at $31.81 on Tuesday. The company has a market capitalization of $2.66 billion, a P/E ratio of 4.25, a PEG ratio of 0.53 and a beta of 1.57. Mallinckrodt has a 12-month low of $11.65 and a 12-month high of $39.05. The company has a quick ratio of 2.06, a current ratio of 2.27 and a debt-to-equity ratio of 0.98.

Mallinckrodt (NYSE:MNK) last released its earnings results on Tuesday, August 7th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.30. The company had revenue of $631.70 million during the quarter, compared to analyst estimates of $621.15 million. Mallinckrodt had a net margin of 59.85% and a return on equity of 10.39%. analysts forecast that Mallinckrodt will post 6.7 EPS for the current year.

Several hedge funds have recently bought and sold shares of MNK. Alps Advisors Inc. grew its holdings in shares of Mallinckrodt by 160.5% in the first quarter. Alps Advisors Inc. now owns 27,751 shares of the company’s stock valued at $402,000 after purchasing an additional 17,099 shares in the last quarter. New York State Teachers Retirement System grew its holdings in shares of Mallinckrodt by 5.3% in the first quarter. New York State Teachers Retirement System now owns 190,501 shares of the company’s stock valued at $2,758,000 after purchasing an additional 9,673 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new position in shares of Mallinckrodt in the first quarter valued at $175,000. Victory Capital Management Inc. purchased a new position in shares of Mallinckrodt in the first quarter valued at $104,000. Finally, Financial Gravity Wealth Inc. purchased a new position in shares of Mallinckrodt in the first quarter valued at $182,000.

About Mallinckrodt

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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