Mallinckrodt PLC (NYSE:MNK) shares dropped 1.6% during trading on Thursday . The stock traded as low as $16.22 and last traded at $16.41. Approximately 3,056,029 shares were traded during trading, a decline of 20% from the average daily volume of 3,807,361 shares. The stock had previously closed at $16.68.

MNK has been the subject of several research analyst reports. Zacks Investment Research upgraded Mallinckrodt from a “sell” rating to a “hold” rating in a research report on Monday, November 6th. Oppenheimer restated a “market perform” rating on shares of Mallinckrodt in a research report on Wednesday, November 22nd. Citigroup lowered Mallinckrodt from a “buy” rating to a “hold” rating and decreased their target price for the company from $44.00 to $28.00 in a report on Tuesday, November 7th. ValuEngine lowered Mallinckrodt from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, BMO Capital Markets decreased their target price on Mallinckrodt to $38.00 and set an “outperform” rating for the company in a report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $42.64.

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The stock has a market capitalization of $1,353.97, a price-to-earnings ratio of 0.72, a PEG ratio of 0.32 and a beta of 1.06. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.18 and a quick ratio of 1.05.

Mallinckrodt (NYSE:MNK) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $2.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.29. The company had revenue of $792.30 million during the quarter, compared to the consensus estimate of $769.91 million. Mallinckrodt had a return on equity of 13.43% and a net margin of 66.25%. Mallinckrodt’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.91 EPS. sell-side analysts predict that Mallinckrodt PLC will post 6.39 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue purchased a new stake in Mallinckrodt during the 4th quarter worth about $129,000. Amundi Pioneer Asset Management Inc. purchased a new stake in Mallinckrodt during the 4th quarter worth about $190,000. Shelton Capital Management purchased a new stake in Mallinckrodt during the 3rd quarter worth about $205,000. Sciencast Management LP purchased a new stake in Mallinckrodt during the 4th quarter worth about $210,000. Finally, CIBC World Markets Inc. purchased a new stake in Mallinckrodt during the 4th quarter worth about $231,000. 97.38% of the stock is 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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