Mallinckrodt (NYSE:MNK) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Friday.

A number of other brokerages have also recently issued reports on MNK. Piper Jaffray Companies restated a “buy” rating and issued a $67.00 target price on shares of Mallinckrodt in a report on Thursday, October 5th. Stifel Nicolaus restated a “buy” rating on shares of Mallinckrodt in a report on Friday, October 6th. Jefferies Group restated a “buy” rating and issued a $60.00 target price on shares of Mallinckrodt in a report on Friday, October 6th. UBS Group set a $70.00 target price on Mallinckrodt and gave the stock a “buy” rating in a report on Friday, October 6th. Finally, Mizuho restated a “hold” rating and issued a $40.00 target price on shares of Mallinckrodt in a report on Sunday, October 15th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. Mallinckrodt has an average rating of “Hold” and an average target price of $43.10.

Mallinckrodt (MNK) opened at $17.26 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.38 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $1,639.79, a price-to-earnings ratio of 2.33, a P/E/G ratio of 0.32 and a beta of 1.04. Mallinckrodt has a 1-year low of $16.98 and a 1-year high of $55.32.

Mallinckrodt (NYSE:MNK) last issued its earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.80 by $0.17. The business had revenue of $793.90 million for the quarter, compared to analysts’ expectations of $808.93 million. Mallinckrodt had a return on equity of 14.79% and a net margin of 11.43%. The company’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.04 EPS. analysts anticipate that Mallinckrodt will post 7.2 earnings per share for the current fiscal year.

In other Mallinckrodt news, Director David R. Carlucci purchased 10,000 shares of the stock in a transaction dated Thursday, November 9th. The shares were acquired at an average price of $21.83 per share, for a total transaction of $218,300.00. Following the completion of the acquisition, the director now owns 26,020 shares of the company’s stock, valued at approximately $568,016.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael-Bryant Hicks purchased 7,900 shares of the stock in a transaction dated Thursday, November 9th. The shares were acquired at an average price of $20.80 per share, for a total transaction of $164,320.00. The disclosure for this purchase can be found here. Insiders have bought 30,460 shares of company stock worth $659,486 in the last quarter. 0.77% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. grew its stake in Mallinckrodt by 6.9% in the third quarter. Schwab Charles Investment Management Inc. now owns 433,563 shares of the company’s stock valued at $16,203,000 after purchasing an additional 27,908 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Mallinckrodt in the fourth quarter valued at about $1,064,000. American International Group Inc. grew its stake in Mallinckrodt by 464.6% in the third quarter. American International Group Inc. now owns 198,807 shares of the company’s stock valued at $7,429,000 after purchasing an additional 163,596 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in Mallinckrodt by 2.1% in the second quarter. Lord Abbett & CO. LLC now owns 610,870 shares of the company’s stock valued at $27,373,000 after purchasing an additional 12,700 shares in the last quarter. Finally, Aperio Group LLC grew its stake in Mallinckrodt by 35.5% in the third quarter. Aperio Group LLC now owns 58,362 shares of the company’s stock valued at $2,181,000 after purchasing an additional 15,301 shares in the last quarter. Hedge funds and other 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Mallinckrodt (NYSE:MNK)

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