Mallinckrodt PLC (MNK) Lowered to “Neutral” at UBS AG
UBS AG downgraded shares of Mallinckrodt PLC (NYSE:MNK) from a buy rating to a neutral rating in a research note issued to investors on Monday. UBS AG currently has $24.00 price objective on the stock.
MNK has been the topic of several other reports. Zacks Investment Research downgraded shares of Mallinckrodt PLC from a hold rating to a sell rating in a research report on Tuesday, October 17th. Cantor Fitzgerald restated a buy rating and issued a $52.00 price target on shares of Mallinckrodt PLC in a research report on Thursday, November 2nd. BidaskClub upgraded shares of Mallinckrodt PLC from a strong sell rating to a sell rating in a research report on Friday, August 25th. Deutsche Bank AG restated a buy rating and issued a $45.00 price target (down previously from $56.00) on shares of Mallinckrodt PLC in a research report on Thursday, September 14th. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on shares of Mallinckrodt PLC in a research report on Thursday, September 28th. They issued a buy rating and a $55.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $48.14.
Mallinckrodt PLC (MNK) traded up $0.14 during trading hours on Monday, reaching $21.90. 4,264,600 shares of the company traded hands, compared to its average volume of 2,497,634. The company has a current ratio of 1.38, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08. Mallinckrodt PLC has a twelve month low of $19.00 and a twelve month high of $68.12. The firm has a market cap of $2,067.31, a P/E ratio of 2.94, a PEG ratio of 0.33 and a beta of 1.46.
Mallinckrodt PLC (NYSE:MNK) last posted its earnings results on Tuesday, November 7th. The company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.80 by $0.17. Mallinckrodt PLC had a net margin of 11.43% and a return on equity of 14.79%. The business had revenue of $793.90 million for the quarter, compared to the consensus estimate of $808.93 million. During the same period last year, the company earned $2.04 EPS. The firm’s revenue was down 10.5% compared to the same quarter last year. equities analysts predict that Mallinckrodt PLC will post 7.23 earnings per share for the current fiscal year.
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In other news, Director David R. Carlucci bought 10,000 shares of Mallinckrodt PLC stock in a transaction dated Thursday, November 9th. The stock was purchased at an average price of $21.83 per share, for a total transaction of $218,300.00. Following the purchase, the director now directly owns 26,020 shares in the company, valued at approximately $568,016.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Steven J. Romano bought 2,000 shares of Mallinckrodt PLC stock in a transaction dated Monday, November 13th. The stock was purchased at an average price of $21.96 per share, with a total value of $43,920.00. The disclosure for this purchase can be found here. In the last quarter, insiders bought 27,180 shares of company stock valued at $610,166. Company insiders own 0.53% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of MNK. HealthCor Management L.P. bought a new stake in shares of Mallinckrodt PLC in the 2nd quarter worth $107,649,000. Janus Henderson Group PLC boosted its holdings in shares of Mallinckrodt PLC by 6,828.1% in the 2nd quarter. Janus Henderson Group PLC now owns 1,396,780 shares of the company’s stock worth $62,590,000 after buying an additional 1,376,619 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Mallinckrodt PLC by 117.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,937,444 shares of the company’s stock worth $86,815,000 after buying an additional 1,045,757 shares during the last quarter. Prudential Financial Inc. boosted its holdings in shares of Mallinckrodt PLC by 114.9% in the 3rd quarter. Prudential Financial Inc. now owns 1,379,978 shares of the company’s stock worth $51,569,000 after buying an additional 737,791 shares during the last quarter. Finally, AJO LP boosted its holdings in shares of Mallinckrodt PLC by 165.6% in the 2nd quarter. AJO LP now owns 927,472 shares of the company’s stock worth $41,560,000 after buying an additional 578,266 shares during the last quarter. Hedge funds and other institutional investors own 98.83% of the company’s stock.
Mallinckrodt PLC Company Profile
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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