Shares of Mallinckrodt PLC (NYSE:MNK) traded up 5.3% during trading on Thursday . The company traded as high as $34.22 and last traded at $34.14. 4,466,700 shares were traded during trading, an increase of 27% from the average session volume of 3,519,805 shares. The stock had previously closed at $32.43.

A number of analysts have recently commented on the company. Barclays lifted their target price on Mallinckrodt from $12.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 8th. Mizuho reiterated a “hold” rating and set a $15.00 target price on shares of Mallinckrodt in a research report on Friday, April 20th. Cantor Fitzgerald set a $42.00 target price on Mallinckrodt and gave the stock a “buy” rating in a research report on Monday, April 30th. ValuEngine cut Mallinckrodt from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Finally, Canaccord Genuity set a $14.00 target price on Mallinckrodt and gave the stock a “hold” rating in a research report on Tuesday, May 8th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $32.63.

The stock has a market cap of $2.59 billion, a PE ratio of 4.63, a PEG ratio of 0.48 and a beta of 1.36. The company has a quick ratio of 2.06, a current ratio of 2.27 and a debt-to-equity ratio of 0.98.

Mallinckrodt (NYSE:MNK) last issued its quarterly earnings results on Tuesday, August 7th. The company reported $1.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.30. The firm had revenue of $631.70 million for the quarter, compared to analysts’ expectations of $621.15 million. Mallinckrodt had a return on equity of 10.39% and a net margin of 59.85%. research analysts forecast that Mallinckrodt PLC will post 6.67 earnings per share for the current year.

Hedge funds have recently modified their holdings of the stock. NuWave Investment Management LLC increased its position in Mallinckrodt by 5,538.7% during the 1st quarter. NuWave Investment Management LLC now owns 15,168 shares of the company’s stock worth $218,000 after purchasing an additional 14,899 shares during the period. Alps Advisors Inc. increased its position in Mallinckrodt by 160.5% during the 1st quarter. Alps Advisors Inc. now owns 27,751 shares of the company’s stock worth $402,000 after purchasing an additional 17,099 shares during the period. New York State Teachers Retirement System increased its position in Mallinckrodt by 5.3% during the 1st quarter. New York State Teachers Retirement System now owns 190,501 shares of the company’s stock worth $2,758,000 after purchasing an additional 9,673 shares during the period. SG Americas Securities LLC increased its position in Mallinckrodt by 131.2% during the 1st quarter. SG Americas Securities LLC now owns 352,854 shares of the company’s stock worth $5,109,000 after purchasing an additional 200,242 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its position in Mallinckrodt by 11,188.0% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 10,385 shares of the company’s stock worth $150,000 after purchasing an additional 10,293 shares during the period.

About Mallinckrodt (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.

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