Canaccord Genuity Reiterates $24.00 Price Target for Mallinckrodt (MNK)
Mallinckrodt (NYSE:MNK) has been assigned a $24.00 price target by equities research analysts at Canaccord Genuity in a research note issued to investors on Sunday. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity’s price target suggests a potential upside of 7.19% from the company’s current price.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research raised Mallinckrodt from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Cantor Fitzgerald set a $42.00 target price on Mallinckrodt and gave the stock a “buy” rating in a report on Tuesday, December 26th. Wells Fargo & Co reissued a “hold” rating on shares of Mallinckrodt in a report on Monday, January 1st. Oppenheimer dropped their target price on Mallinckrodt from $70.00 to $48.00 in a report on Tuesday, September 19th. Finally, Leerink Swann began coverage on Mallinckrodt in a report on Tuesday, January 2nd. They set a “market perform” rating and a $26.00 target price on the stock. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $45.94.
Mallinckrodt (NYSE:MNK) opened at $22.39 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $2,130.00, a P/E ratio of -1,119.50, a PEG ratio of 0.43 and a beta of 1.30. Mallinckrodt has a 52-week low of $19.00 and a 52-week high of $55.32.
Mallinckrodt (NYSE:MNK) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $1.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.17. Mallinckrodt had a return on equity of 14.79% and a net margin of 11.43%. The business had revenue of $793.90 million during the quarter, compared to the consensus estimate of $808.93 million. During the same period in the previous year, the firm posted $2.04 earnings per share. The business’s revenue was down 10.5% on a year-over-year basis. research analysts anticipate that Mallinckrodt will post 7.21 EPS for the current year.
In related news, Director David R. Carlucci purchased 10,000 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were bought at an average price of $21.83 per share, with a total value of $218,300.00. Following the completion of the acquisition, the director now owns 26,020 shares of the company’s stock, valued at $568,016.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dr Kneeland Youngblood purchased 4,560 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was bought at an average cost of $21.94 per share, for a total transaction of $100,046.40. Following the acquisition, the director now directly owns 19,789 shares of the company’s stock, valued at approximately $434,170.66. The disclosure for this purchase can be found here. Insiders acquired 30,460 shares of company stock worth $659,486 in the last ninety days. 0.53% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in Mallinckrodt by 16.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,522,330 shares of the company’s stock valued at $94,255,000 after purchasing an additional 360,516 shares during the period. HealthCor Management L.P. acquired a new stake in Mallinckrodt during the 2nd quarter valued at $107,649,000. Ameriprise Financial Inc. raised its stake in Mallinckrodt by 2.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,987,196 shares of the company’s stock valued at $74,260,000 after purchasing an additional 49,752 shares during the period. Alyeska Investment Group L.P. raised its stake in Mallinckrodt by 45.8% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,535,583 shares of the company’s stock valued at $57,385,000 after purchasing an additional 482,591 shares during the period. Finally, Orbimed Advisors LLC raised its stake in Mallinckrodt by 15.7% during the 3rd quarter. Orbimed Advisors LLC now owns 1,472,700 shares of the company’s stock valued at $55,035,000 after purchasing an additional 200,000 shares during the period. 97.35% of the stock is currently owned by institutional investors.
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Mallinckrodt 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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