Mallinckrodt (NYSE:MNK) Stock Price Up 5.6%

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Shares of Mallinckrodt PLC (NYSE:MNK) rose 5.6% on Wednesday . The company traded as high as $2.00 and last traded at $2.09, approximately 107,568 shares traded hands during trading. A decline of 99% from the average daily volume of 10,589,238 shares. The stock had previously closed at $1.98.

MNK has been the topic of a number of research analyst reports. Bank of America lifted their price target on Mallinckrodt to $3.00 and gave the company an “underperform” rating in a report on Wednesday, February 26th. Wells Fargo & Co restated a “hold” rating on shares of Mallinckrodt in a research note on Wednesday, January 22nd. Finally, ValuEngine downgraded Mallinckrodt from a “buy” rating to a “hold” rating in a research note on Wednesday, March 18th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. Mallinckrodt has a consensus rating of “Hold” and an average target price of $8.27.

The company has a current ratio of 1.28, a quick ratio of 1.06 and a debt-to-equity ratio of 2.44. The firm has a market cap of $166.73 million, a price-to-earnings ratio of -0.20, a PEG ratio of 0.02 and a beta of 2.40. The firm has a 50-day moving average of $3.62 and a two-hundred day moving average of $3.42.

Mallinckrodt (NYSE:MNK) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.35. Mallinckrodt had a positive return on equity of 27.05% and a negative net margin of 31.51%. The business had revenue of $804.90 million during the quarter, compared to analysts’ expectations of $771.73 million. During the same quarter in the previous year, the firm earned $2.18 EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that Mallinckrodt PLC will post 6.61 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew its stake in shares of Mallinckrodt by 114.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,069 shares of the company’s stock valued at $28,000 after purchasing an additional 4,298 shares during the period. Carnegie Capital Asset Management LLC bought a new stake in shares of Mallinckrodt in the 4th quarter valued at approximately $35,000. ProShare Advisors LLC bought a new stake in shares of Mallinckrodt in the 4th quarter valued at approximately $40,000. SkyOak Wealt LLC bought a new stake in shares of Mallinckrodt in the 4th quarter valued at approximately $46,000. Finally, Comerica Bank bought a new stake in shares of Mallinckrodt in the 4th quarter valued at approximately $53,000. 92.24% of the stock is owned by institutional investors and hedge funds.

About Mallinckrodt (NYSE:MNK)

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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