Mallinckrodt (NYSE:MNK) Earns “Hold” Rating from Wells Fargo & Co
A number of other research firms also recently weighed in on MNK. SunTrust Banks cut their target price on Mallinckrodt to $7.00 and set a positive rating for the company in a research report on Monday, August 12th. Morgan Stanley set a $5.00 target price on Mallinckrodt and gave the company a hold rating in a research report on Friday, August 9th. Barclays set a $5.00 target price on Mallinckrodt and gave the company a hold rating in a research report on Tuesday, September 10th. Jefferies Financial Group set a $2.00 target price on Mallinckrodt and gave the company a hold rating in a research report on Friday, September 6th. Finally, Canaccord Genuity cut their target price on Mallinckrodt from $37.00 to $22.00 and set a buy rating for the company in a research report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $10.19.
Shares of NYSE:MNK traded up $0.03 during trading on Wednesday, reaching $2.30. 4,579,054 shares of the company traded hands, compared to its average volume of 9,732,068. The company’s 50 day moving average is $2.74 and its two-hundred day moving average is $9.76. The firm has a market capitalization of $190.70 million, a PE ratio of 0.29, a PEG ratio of 0.03 and a beta of 2.48. The company has a quick ratio of 0.57, a current ratio of 0.78 and a debt-to-equity ratio of 1.57. Mallinckrodt has a 52 week low of $1.43 and a 52 week high of $32.34.
Several hedge funds have recently made changes to their positions in MNK. Morgan Stanley lifted its position in shares of Mallinckrodt by 1,395.5% during the 2nd quarter. Morgan Stanley now owns 3,275,676 shares of the company’s stock worth $30,071,000 after buying an additional 3,056,636 shares during the last quarter. Vanguard Group Inc. increased its holdings in Mallinckrodt by 18.4% in the 2nd quarter. Vanguard Group Inc. now owns 9,809,305 shares of the company’s stock worth $90,049,000 after purchasing an additional 1,527,591 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Mallinckrodt by 128.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,794,821 shares of the company’s stock worth $16,476,000 after purchasing an additional 1,009,745 shares in the last quarter. Invesco Ltd. increased its holdings in Mallinckrodt by 37.9% in the 2nd quarter. Invesco Ltd. now owns 2,038,239 shares of the company’s stock worth $18,711,000 after purchasing an additional 559,939 shares in the last quarter. Finally, Maverick Capital Ltd. acquired a new position in Mallinckrodt in the 2nd quarter worth about $3,533,000.
Mallinckrodt plc, together with its subsidiaries, develops, manufactures, markets, and distributes specialty pharmaceutical products and therapies in the United States, Europe, the Middle East, Africa, and internationally. It operates in two segments, Specialty Brands, and Specialty Generics and Amitiza.
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