Mallinckrodt PLC (MNK) Downgraded by Citigroup Inc.
Citigroup Inc. downgraded shares of Mallinckrodt PLC (NYSE:MNK) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, The Fly reports. They currently have $28.00 price objective on the stock, down from their previous price objective of $44.00.
A number of other analysts have also recently commented on MNK. Cantor Fitzgerald reiterated a buy rating and set a $52.00 target price on shares of Mallinckrodt PLC in a research report on Thursday, November 2nd. BidaskClub cut Mallinckrodt PLC from a hold rating to a sell rating in a research report on Tuesday, August 8th. BMO Capital Markets reiterated an outperform rating and set a $65.00 target price (down previously from $69.00) on shares of Mallinckrodt PLC in a research report on Wednesday, August 9th. Deutsche Bank AG set a $56.00 target price on Mallinckrodt PLC and gave the stock a buy rating in a research report on Wednesday, August 9th. Finally, Raymond James Financial, Inc. lowered their price target on Mallinckrodt PLC from $65.00 to $58.00 and set an outperform rating on the stock in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. Mallinckrodt PLC presently has an average rating of Hold and a consensus target price of $50.44.
Shares of Mallinckrodt PLC (NYSE:MNK) opened at $21.76 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 1.08. Mallinckrodt PLC has a 52-week low of $19.00 and a 52-week high of $68.12. The company has a market capitalization of $2,109.11, a PE ratio of 3.00, a PEG ratio of 0.33 and a beta of 1.46.
Mallinckrodt PLC (NYSE:MNK) last posted its earnings results on Tuesday, November 7th. The company reported $1.97 EPS for the quarter, topping the Zacks’ consensus estimate of $1.80 by $0.17. Mallinckrodt PLC had a return on equity of 14.79% and a net margin of 11.43%. The business had revenue of $793.90 million for the quarter, compared to analysts’ expectations of $808.93 million. During the same quarter in the previous year, the firm earned $2.04 earnings per share. The business’s revenue was down 10.5% compared to the same quarter last year. research analysts forecast that Mallinckrodt PLC will post 7.26 EPS for the current fiscal year.
In other Mallinckrodt PLC news, insider Meredith B. Fischer acquired 1,280 shares of the stock in a transaction on Wednesday, August 30th. The shares were bought at an average price of $39.63 per share, with a total value of $50,726.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.77% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Mallinckrodt PLC by 92.1% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,176 shares of the company’s stock valued at $530,000 after acquiring an additional 6,795 shares during the period. Achmea Investment Management B.V. lifted its position in shares of Mallinckrodt PLC by 82.2% during the 3rd quarter. Achmea Investment Management B.V. now owns 12,877 shares of the company’s stock valued at $481,000 after acquiring an additional 5,810 shares during the period. Legal & General Group Plc lifted its position in shares of Mallinckrodt PLC by 1.3% during the 3rd quarter. Legal & General Group Plc now owns 548,195 shares of the company’s stock valued at $20,484,000 after acquiring an additional 7,165 shares during the period. Great West Life Assurance Co. Can lifted its position in shares of Mallinckrodt PLC by 16.0% during the 3rd quarter. Great West Life Assurance Co. Can now owns 105,637 shares of the company’s stock valued at $3,815,000 after acquiring an additional 14,588 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of Mallinckrodt PLC by 2.1% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 203,578 shares of the company’s stock valued at $7,607,000 after acquiring an additional 4,139 shares during the period. Institutional investors own 97.96% of the company’s stock.
Mallinckrodt PLC 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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