SunTrust Banks Begins Coverage on Mallinckrodt (MNK)

Share on StockTwits

Stock analysts at SunTrust Banks started coverage on shares of Mallinckrodt (NYSE:MNK) in a research note issued to investors on Tuesday, The Fly reports. The brokerage set a “hold” rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity set a $40.00 price objective on shares of Mallinckrodt and gave the company a “buy” rating in a research note on Monday. Piper Jaffray Companies set a $39.00 price objective on shares of Mallinckrodt and gave the company a “buy” rating in a research note on Friday, December 7th. Morgan Stanley set a $32.00 price objective on shares of Mallinckrodt and gave the company a “hold” rating in a research note on Thursday, February 28th. ValuEngine upgraded shares of Mallinckrodt from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Finally, Wells Fargo & Co set a $27.00 price objective on shares of Mallinckrodt and gave the company a “hold” rating in a research note on Friday, December 7th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Mallinckrodt currently has a consensus rating of “Hold” and an average price target of $31.44.

Shares of NYSE MNK traded up $0.47 during midday trading on Tuesday, reaching $23.18. 3,576,974 shares of the company traded hands, compared to its average volume of 1,868,492. Mallinckrodt has a 52 week low of $11.65 and a 52 week high of $36.65. The company has a quick ratio of 1.17, a current ratio of 1.51 and a debt-to-equity ratio of 2.10. The stock has a market cap of $1.90 billion, a P/E ratio of 2.89, a P/E/G ratio of 0.22 and a beta of 2.31.

Mallinckrodt (NYSE:MNK) last issued its quarterly earnings data on Tuesday, February 26th. The company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.20. Mallinckrodt had a negative net margin of 134.63% and a positive return on equity of 11.14%. The business had revenue of $834.90 million for the quarter, compared to analysts’ expectations of $681.45 million. During the same period in the previous year, the business earned $2.01 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that Mallinckrodt will post 8.19 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in MNK. Norges Bank purchased a new position in Mallinckrodt in the 4th quarter worth about $26,615,000. Dimensional Fund Advisors LP increased its holdings in shares of Mallinckrodt by 24.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,516,703 shares of the company’s stock worth $161,694,000 after buying an additional 1,093,916 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Mallinckrodt by 525.3% in the 3rd quarter. Mackenzie Financial Corp now owns 972,092 shares of the company’s stock worth $28,492,000 after buying an additional 816,642 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Mallinckrodt by 90.6% in the 4th quarter. Acadian Asset Management LLC now owns 1,694,860 shares of the company’s stock worth $26,781,000 after buying an additional 805,751 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of Mallinckrodt by 72.7% in the 3rd quarter. Morgan Stanley now owns 1,703,367 shares of the company’s stock worth $49,925,000 after buying an additional 717,251 shares during the last quarter.

About Mallinckrodt

Mallinckrodt public limited company develops, manufactures, markets, and distributes branded pharmaceutical products in Canada and the European Union, as well as in Latin American, the Middle Eastern, African, and the Asia-Pacific regions. The company markets branded pharmaceutical products for autoimmune and rare diseases in the specialty areas of neurology, rheumatology, nephrology, ophthalmology, and pulmonology; and immunotherapy and neonatal respiratory critical care therapies, as well as analgesics and gastrointestinal products.

Featured Story: Channel Trading

The Fly

Analyst Recommendations for Mallinckrodt (NYSE:MNK)

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.



Latest News

Analysts Anticipate TD Ameritrade Holding Corp.  Will Post Quarterly Sales of $1.46 Billion
Analysts Anticipate TD Ameritrade Holding Corp. Will Post Quarterly Sales of $1.46 Billion
TravelNote Price Reaches $0.0135 on Exchanges
TravelNote Price Reaches $0.0135 on Exchanges
$70.00 Million in Sales Expected for Primo Water Co.  This Quarter
$70.00 Million in Sales Expected for Primo Water Co. This Quarter
UralsCoin Trading Down 3.6% Over Last Week
UralsCoin Trading Down 3.6% Over Last Week
Cruisebit Price Hits $0.0085 on Top Exchanges
Cruisebit Price Hits $0.0085 on Top Exchanges
IHT Real Estate Protocol  Trading 23.5% Lower  Over Last 7 Days
IHT Real Estate Protocol Trading 23.5% Lower Over Last 7 Days


© 2006-2019 Ticker Report