Mallinckrodt PLC (MNK) Downgraded by UBS AG
UBS AG lowered shares of Mallinckrodt PLC (NYSE:MNK) from a buy rating to a neutral rating in a research note published on Monday, www.benzinga.com reports. UBS AG currently has $24.00 price target on the stock.
MNK has been the subject of a number of other research reports. Canaccord Genuity set a $87.00 price target on Mallinckrodt PLC and gave the stock a buy rating in a report on Monday, July 17th. ValuEngine upgraded shares of Mallinckrodt PLC from a hold rating to a buy rating in a research report on Monday, October 2nd. Zacks Investment Research upgraded shares of Mallinckrodt PLC from a sell rating to a hold rating in a research report on Wednesday, October 25th. Morgan Stanley downgraded shares of Mallinckrodt PLC from an overweight rating to an equal weight rating and cut their price objective for the stock from $65.00 to $40.00 in a research report on Wednesday, September 6th. Finally, Mizuho restated a hold rating and set a $40.00 price objective on shares of Mallinckrodt PLC in a research report on Sunday, October 15th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $48.14.
Shares of Mallinckrodt PLC (NYSE MNK) traded up $0.19 during midday trading on Monday, hitting $21.91. The stock had a trading volume of 4,245,700 shares, compared to its average volume of 2,518,070. The company has a market cap of $2,063.51, a PE ratio of 2.93, a price-to-earnings-growth ratio of 0.32 and a beta of 1.46. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.38 and a quick ratio of 1.05. Mallinckrodt PLC has a 12 month low of $19.00 and a 12 month high of $67.24.
Mallinckrodt PLC (NYSE:MNK) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $1.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.80 by $0.17. The company had revenue of $793.90 million during the quarter, compared to analysts’ expectations of $808.93 million. Mallinckrodt PLC had a return on equity of 14.79% and a net margin of 11.43%. Mallinckrodt PLC’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.04 EPS. sell-side analysts anticipate that Mallinckrodt PLC will post 7.23 earnings per share for the current fiscal year.
In other news, VP Steven J. Romano acquired 2,000 shares of Mallinckrodt PLC stock in a transaction on Monday, November 13th. The stock was acquired at an average cost of $21.96 per share, with a total value of $43,920.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Meredith B. Fischer acquired 1,280 shares of Mallinckrodt PLC stock in a transaction on Wednesday, August 30th. The stock was purchased at an average cost of $39.63 per share, with a total value of $50,726.40. The disclosure for this purchase can be found here. Insiders acquired a total of 27,180 shares of company stock valued at $610,166 over the last ninety days. 0.77% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. grew its position in Mallinckrodt PLC by 1.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 15,900 shares of the company’s stock worth $712,000 after purchasing an additional 209 shares in the last quarter. Xact Kapitalforvaltning AB grew its position in shares of Mallinckrodt PLC by 4.6% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 8,525 shares of the company’s stock valued at $382,000 after acquiring an additional 374 shares during the period. Amalgamated Bank grew its position in shares of Mallinckrodt PLC by 6.2% during the 1st quarter. Amalgamated Bank now owns 7,625 shares of the company’s stock valued at $340,000 after acquiring an additional 447 shares during the period. Sentry Investment Management LLC grew its position in shares of Mallinckrodt PLC by 1.6% during the 2nd 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 period. Finally, QS Investors LLC grew its position in shares of Mallinckrodt PLC by 10.8% during the 2nd 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 period. 98.83% of the stock is owned by institutional investors and hedge funds.
About Mallinckrodt PLC
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.
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