Investors bought shares of Mallinckrodt PLC (NYSE:MNK) on weakness during trading hours on Wednesday. $38.16 million flowed into the stock on the tick-up and $17.02 million flowed out of the stock on the tick-down, for a money net flow of $21.14 million into the stock. Of all stocks tracked, Mallinckrodt had the 30th highest net in-flow for the day. Mallinckrodt traded down ($1.70) for the day and closed at $26.30

MNK has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued a “buy” rating and set a $42.00 price target on shares of Mallinckrodt in a research report on Tuesday, August 7th. BMO Capital Markets reissued an “outperform” rating and set a $37.00 price target on shares of Mallinckrodt in a research report on Tuesday, August 7th. Piper Jaffray Companies reissued a “buy” rating and set a $39.00 price target on shares of Mallinckrodt in a research report on Wednesday, August 8th. Raymond James cut shares of Mallinckrodt from an “outperform” rating to a “market perform” rating and set a $58.00 price target on the stock. in a research report on Wednesday, August 8th. They noted that the move was a valuation call. Finally, Stifel Nicolaus lifted their price target on shares of Mallinckrodt from $18.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, August 8th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. Mallinckrodt currently has an average rating of “Hold” and a consensus target price of $33.00.

The stock has a market cap of $2.57 billion, a P/E ratio of 3.51, a price-to-earnings-growth ratio of 0.41 and a beta of 1.71. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.05 and a current ratio of 2.21.

Mallinckrodt (NYSE:MNK) last posted its quarterly earnings data on Tuesday, November 6th. The company reported $2.10 EPS for the quarter, beating the consensus estimate of $1.79 by $0.31. The business had revenue of $640.00 million for the quarter, compared to analysts’ expectations of $634.38 million. Mallinckrodt had a net margin of 65.24% and a return on equity of 9.60%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.97 EPS. Equities analysts predict that Mallinckrodt PLC will post 7.09 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in Mallinckrodt by 19.1% in the 2nd quarter. BlackRock Inc. now owns 9,649,420 shares of the company’s stock valued at $180,057,000 after acquiring an additional 1,546,671 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Mallinckrodt by 24.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,516,703 shares of the company’s stock valued at $161,694,000 after acquiring an additional 1,093,916 shares in the last quarter. LSV Asset Management lifted its position in Mallinckrodt by 26.2% in the 3rd quarter. LSV Asset Management now owns 3,377,259 shares of the company’s stock valued at $98,987,000 after acquiring an additional 702,105 shares in the last quarter. Miller Value Partners LLC lifted its position in Mallinckrodt by 57.5% in the 2nd quarter. Miller Value Partners LLC now owns 3,338,025 shares of the company’s stock valued at $62,288,000 after acquiring an additional 1,218,750 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in Mallinckrodt by 100.4% in the 3rd quarter. Prudential Financial Inc. now owns 1,943,432 shares of the company’s stock valued at $56,962,000 after acquiring an additional 973,806 shares in the last quarter.

TRADEMARK VIOLATION WARNING: “Investors Buy Shares of Mallinckrodt (MNK) on Weakness” was reported by Daily Political and is the property of of Daily Political. If you are reading this report on another publication, it was stolen and republished in violation of U.S. & international copyright and trademark legislation. The correct version of this report can be viewed at https://www.dailypolitical.com/2018/11/22/investors-buy-shares-of-mallinckrodt-mnk-on-weakness.html.

Mallinckrodt Company Profile (NYSE:MNK)

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.

See Also: Why does a company issue an IPO?

Receive News & Ratings for Mallinckrodt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mallinckrodt and related companies with MarketBeat.com's FREE daily email newsletter.