Leerink Swann initiated coverage on shares of Mallinckrodt (NYSE:MNK) in a research report sent to investors on Tuesday morning. The brokerage issued a market perform rating and a $26.00 price target on the stock.
A number of other research analysts have also recently issued reports on MNK. Morgan Stanley cut shares of Mallinckrodt from an overweight rating to an equal weight rating and decreased their price objective for the company from $65.00 to $40.00 in a research note on Wednesday, September 6th. Mizuho reissued a buy rating and issued a $70.00 price objective on shares of Mallinckrodt in a research note on Wednesday, September 6th. Stifel Nicolaus reissued a buy rating and issued a $85.00 price objective on shares of Mallinckrodt in a research note on Wednesday, September 6th. UBS Group reissued a buy rating and issued a $70.00 price objective on shares of Mallinckrodt in a research note on Wednesday, September 6th. Finally, Cantor Fitzgerald reissued a buy rating and issued a $52.00 price objective on shares of Mallinckrodt in a research note on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have assigned 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 (NYSE MNK) traded down $0.01 on Tuesday, hitting $23.51. 2,259,042 shares of the stock traded hands, compared to its average volume of 2,906,250. Mallinckrodt has a 12 month low of $19.00 and a 12 month high of $55.32. The company has a market capitalization of $2,230.00, a PE ratio of -1,175.50, a PEG ratio of 0.43 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.
In other Mallinckrodt news, Director Dr Kneeland Youngblood purchased 4,560 shares of the business’s stock in a transaction dated Tuesday, November 28th. The shares were bought at an average price of $21.94 per share, for a total transaction of $100,046.40. Following the completion of the acquisition, the director now owns 19,789 shares in the company, valued at $434,170.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David R. Carlucci purchased 10,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were acquired at an average price of $21.83 per share, for a total transaction of $218,300.00. Following the acquisition, the director now owns 26,020 shares of the company’s stock, valued at approximately $568,016.60. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 30,460 shares of company stock worth $659,486. Insiders own 0.53% of the company’s stock.
Several large investors have recently modified their holdings of the company. Alliancebernstein L.P. lifted its holdings in shares of Mallinckrodt by 15.4% during the second quarter. Alliancebernstein L.P. now owns 3,348,807 shares of the company’s stock worth $150,060,000 after purchasing an additional 448,011 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Mallinckrodt by 16.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,522,330 shares of the company’s stock worth $94,255,000 after purchasing an additional 360,516 shares during the period. HealthCor Management L.P. acquired a new position in shares of Mallinckrodt during the second quarter worth $107,649,000. Ameriprise Financial Inc. lifted its holdings in shares of Mallinckrodt by 2.6% during the third quarter. Ameriprise Financial Inc. now owns 1,987,196 shares of the company’s stock worth $74,260,000 after purchasing an additional 49,752 shares during the period. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of Mallinckrodt by 45.8% during the third quarter. Alyeska Investment Group L.P. now owns 1,535,583 shares of the company’s stock worth $57,385,000 after purchasing an additional 482,591 shares during the period. Institutional investors own 97.35% of the company’s stock.
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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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