Mallinckrodt (NYSE:MNK) Shares Up 5.7%

Mallinckrodt PLC (NYSE:MNK) shot up 5.7% on Thursday . The stock traded as high as $9.96 and last traded at $9.85. 2,157,243 shares traded hands during trading, a decline of 10% from the average session volume of 2,387,813 shares. The stock had previously closed at $9.32.

Several brokerages recently weighed in on MNK. ValuEngine downgraded shares of Mallinckrodt from a “sell” rating to a “strong sell” rating in a research note on Monday, May 13th. SunTrust Banks began coverage on shares of Mallinckrodt in a research note on Tuesday, March 19th. They set a “hold” rating and a $23.00 target price on the stock. Wells Fargo & Co cut their target price on shares of Mallinckrodt from $25.00 to $11.00 and set a “market perform” rating on the stock in a research note on Thursday, June 6th. BMO Capital Markets reaffirmed an “outperform” rating and set a $23.00 target price on shares of Mallinckrodt in a research note on Wednesday, May 22nd. Finally, Mizuho cut their target price on shares of Mallinckrodt from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, May 16th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Mallinckrodt currently has an average rating of “Hold” and an average target price of $20.83.

The company has a market capitalization of $825.57 million, a price-to-earnings ratio of 1.16, a P/E/G ratio of 0.10 and a beta of 2.39. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.08 and a current ratio of 1.45.

Mallinckrodt (NYSE:MNK) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.73 by $0.21. Mallinckrodt had a negative net margin of 118.53% and a positive return on equity of 14.22%. The company had revenue of $791.00 million during the quarter, compared to analysts’ expectations of $766.27 million. During the same quarter in the previous year, the business posted $1.31 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, analysts predict that Mallinckrodt PLC will post 8.24 EPS for the current year.

In other news, CFO Bryan M. Reasons purchased 5,400 shares of the stock in a transaction on Friday, June 7th. The stock was bought at an average price of $8.96 per share, for a total transaction of $48,384.00. Following the acquisition, the chief financial officer now directly owns 17,979 shares of the company’s stock, valued at approximately $161,091.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired a total of 8,400 shares of company stock valued at $83,234 in the last quarter. 2.70% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC grew its holdings in Mallinckrodt by 222.8% during the 1st quarter. CWM LLC now owns 1,159 shares of the company’s stock worth $25,000 after acquiring an additional 800 shares in the last quarter. QS Investors LLC grew its holdings in Mallinckrodt by 14.3% during the 4th quarter. QS Investors LLC now owns 4,000 shares of the company’s stock worth $64,000 after acquiring an additional 500 shares in the last quarter. Anderson Fisher LLC grew its holdings in Mallinckrodt by 1,129.1% during the 1st quarter. Anderson Fisher LLC now owns 5,285 shares of the company’s stock worth $115,000 after acquiring an additional 4,855 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Mallinckrodt by 724.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 5,617 shares of the company’s stock worth $122,000 after acquiring an additional 4,936 shares in the last quarter. Finally, One Wealth Advisors LLC acquired a new position in Mallinckrodt during the 1st quarter worth approximately $152,000.

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Mallinckrodt Company Profile (NYSE:MNK)

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.

See Also: Cost of Capital

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