Shares of Mallinckrodt PLC (NYSE:MNK) dropped 5.5% during mid-day trading on Monday . The company traded as low as $15.00 and last traded at $15.20. Approximately 3,710,645 shares changed hands during trading, a decline of 8% from the average daily volume of 4,054,167 shares. The stock had previously closed at $16.09.

MNK has been the subject of a number of research analyst reports. Barclays downgraded shares of Mallinckrodt from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $23.00 to $20.00 in a report on Friday, February 2nd. Oppenheimer reaffirmed a “market perform” rating on shares of Mallinckrodt in a report on Wednesday, November 22nd. Goldman Sachs reaffirmed a “hold” rating on shares of Mallinckrodt in a report on Monday, January 1st. Cantor Fitzgerald set a $42.00 price objective on shares of Mallinckrodt and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, Zacks Investment Research raised shares of Mallinckrodt from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $38.50.

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The company has a market capitalization of $1,389.38, a PE ratio of 0.65, a P/E/G ratio of 0.34 and a beta of 1.06. The company has a quick ratio of 1.85, a current ratio of 2.18 and a debt-to-equity ratio of 0.98.

Mallinckrodt (NYSE:MNK) last issued its earnings results on Tuesday, February 27th. The company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.29. The company had revenue of $792.30 million for the quarter, compared to analysts’ expectations of $769.91 million. Mallinckrodt had a net margin of 66.25% and a return on equity of 13.43%. The firm’s revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.91 EPS. equities research analysts forecast that Mallinckrodt PLC will post 6.22 earnings per share for the current year.

Large investors have recently modified their holdings of the stock. Shelton Capital Management purchased a new position in Mallinckrodt in the 3rd quarter worth $205,000. State of Alaska Department of Revenue purchased a new position in shares of Mallinckrodt in the fourth quarter valued at about $129,000. Cubist Systematic Strategies LLC increased its position in shares of Mallinckrodt by 748.1% in the third quarter. Cubist Systematic Strategies LLC now owns 7,989 shares of the company’s stock valued at $299,000 after acquiring an additional 7,047 shares during the period. Pinnacle Associates Ltd. increased its position in shares of Mallinckrodt by 69.8% in the third quarter. Pinnacle Associates Ltd. now owns 8,025 shares of the company’s stock valued at $300,000 after acquiring an additional 3,300 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Mallinckrodt in the third quarter valued at about $305,000. Institutional investors own 97.38% 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.

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