An issue of Mallinckrodt PLC (NYSE:MNK) bonds rose 3% as a percentage of their face value during trading on Tuesday. The high-yield debt issue has a 5.75% coupon and will mature on August 1, 2022. The debt is now trading at $90.50 and was trading at $88.50 last week. Price moves in a company’s bonds in credit markets sometimes predict parallel moves in its stock price.
MNK has been the topic of a number of recent research reports. Stifel Nicolaus lowered their target price on Mallinckrodt from $70.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. Leerink Swann initiated coverage on Mallinckrodt in a research note on Tuesday, January 2nd. They set a “market perform” rating and a $26.00 target price on the stock. Cantor Fitzgerald set a $42.00 target price on Mallinckrodt and gave the stock a “buy” rating in a research note on Monday, January 1st. Zacks Investment Research upgraded Mallinckrodt from a “sell” rating to a “hold” rating in a research note on Monday, November 6th. Finally, Goldman Sachs Group lowered Mallinckrodt from a “buy” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $42.64.
Mallinckrodt PLC (NYSE MNK) traded down $0.07 during trading on Thursday, reaching $16.61. The company’s stock had a trading volume of 2,483,215 shares, compared to its average volume of 3,802,489. Mallinckrodt PLC has a 12-month low of $15.27 and a 12-month high of $53.12. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.05 and a current ratio of 2.18. The company has a market cap of $1,580.00, a price-to-earnings ratio of 1.18, a PEG ratio of 0.36 and a beta of 1.04.
Institutional investors have recently bought and sold shares of the business. Advantus Capital Management Inc boosted its holdings in shares of Mallinckrodt by 23.7% in the 3rd quarter. Advantus Capital Management Inc now owns 12,286 shares of the company’s stock valued at $459,000 after purchasing an additional 2,352 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Mallinckrodt by 15.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 20,731 shares of the company’s stock valued at $775,000 after purchasing an additional 2,792 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of Mallinckrodt by 11.9% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,117 shares of the company’s stock valued at $1,088,000 after purchasing an additional 3,107 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Mallinckrodt by 20.4% in the 4th quarter. Meeder Asset Management Inc. now owns 19,285 shares of the company’s stock valued at $435,000 after purchasing an additional 3,273 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its holdings in shares of Mallinckrodt by 69.8% in the 3rd 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. Hedge funds and other institutional investors own 97.38% of the company’s stock.
WARNING: “Mallinckrodt (MNK) Bond Prices Rise 3%” was reported by Ticker Report and is the property of of Ticker Report. If you are accessing this piece on another site, it was stolen and republished in violation of United States and international copyright law. The legal version of this piece can be accessed at https://www.tickerreport.com/banking-finance/3231424/mallinckrodt-mnk-bond-prices-rise-3.html.
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.
Receive News & Ratings for Mallinckrodt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mallinckrodt and related companies with MarketBeat.com's FREE daily email newsletter.