Mallinckrodt’s (MNK) “Hold” Rating Reiterated at Goldman Sachs Group

Goldman Sachs Group reiterated their hold rating on shares of Mallinckrodt (NYSE:MNK) in a research report released on Monday.

Other analysts have also issued reports about the stock. Oppenheimer reduced their price target on shares of Mallinckrodt from $70.00 to $48.00 in a research note on Tuesday, September 19th. ValuEngine upgraded shares of Mallinckrodt from a hold rating to a buy rating in a research note on Monday, October 2nd. Cantor Fitzgerald set a $52.00 price target on shares of Mallinckrodt and gave the stock a buy rating in a research note on Monday, October 2nd. Piper Jaffray Companies reiterated a buy rating and issued a $67.00 price target on shares of Mallinckrodt in a research note on Friday, September 15th. Finally, Deutsche Bank reiterated a buy rating and issued a $45.00 price target (down from $56.00) on shares of Mallinckrodt in a research note on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the stock. Mallinckrodt presently has an average rating of Hold and an average target price of $45.94.

Shares of Mallinckrodt (MNK) traded down $0.11 during mid-day trading on Monday, hitting $23.40. 3,476,584 shares of the stock were exchanged, compared to its average volume of 2,906,400. Mallinckrodt has a 52-week low of $19.00 and a 52-week high of $55.32. The company has a market capitalization of $2,220.00, a price-to-earnings ratio of -1,170.00, a PEG ratio of 0.45 and a beta of 1.30. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.38 and a quick ratio of 1.05.

Mallinckrodt (NYSE:MNK) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.17. Mallinckrodt had a net margin of 11.43% and a return on equity of 14.79%. The firm had revenue of $793.90 million during the quarter, compared to analyst estimates of $808.93 million. During the same period in the previous year, the business posted $2.04 earnings per share. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. sell-side analysts forecast that Mallinckrodt will post 7.21 EPS for the current year.

In other news, Director David R. Carlucci purchased 10,000 shares of the stock in a transaction on Thursday, November 9th. The shares were acquired at an average price of $21.83 per share, with a total value of $218,300.00. Following the completion of the acquisition, the director now directly owns 26,020 shares of the company’s stock, valued at $568,016.60. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Michael-Bryant Hicks purchased 7,900 shares of the stock in a transaction on Thursday, November 9th. The shares were purchased at an average cost of $20.80 per share, for a total transaction of $164,320.00. The disclosure for this purchase can be found here. Insiders have purchased 30,460 shares of company stock valued at $659,486 over the last 90 days. 0.77% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of MNK. Sterling Capital Management LLC purchased a new position in Mallinckrodt during the second quarter valued at approximately $204,000. Shelton Capital Management purchased a new position in Mallinckrodt during the third quarter valued at approximately $205,000. OMERS ADMINISTRATION Corp purchased a new position in Mallinckrodt during the second quarter valued at approximately $260,000. Cubist Systematic Strategies LLC lifted its holdings in Mallinckrodt by 748.1% during the third quarter. Cubist Systematic Strategies LLC now owns 7,989 shares of the company’s stock valued at $299,000 after purchasing an additional 7,047 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its holdings in Mallinckrodt by 69.8% during the third quarter. Pinnacle Associates Ltd. now owns 8,025 shares of the company’s stock valued at $300,000 after purchasing an additional 3,300 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Mallinckrodt (NYSE:MNK)

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