Mallinckrodt (NYSE:MNK) Shares Gap Up to $2.66

Mallinckrodt PLC (NYSE:MNK)’s share price gapped up before the market opened on Monday . The stock had previously closed at $2.64, but opened at $2.66. Mallinckrodt shares last traded at $2.41, with a volume of 238,953 shares trading hands.

A number of brokerages recently commented on MNK. ValuEngine downgraded Mallinckrodt from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Jefferies Financial Group set a $2.00 target price on Mallinckrodt and gave the company a “hold” rating in a report on Friday, September 6th. Wells Fargo & Co restated a “hold” rating on shares of Mallinckrodt in a report on Wednesday, October 9th. Stifel Nicolaus decreased their target price on Mallinckrodt from $20.00 to $8.00 and set a “hold” rating for the company in a report on Monday, September 9th. Finally, Barclays set a $5.00 target price on Mallinckrodt and gave the company a “hold” rating in a report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $10.19.

The business has a fifty day simple moving average of $2.49 and a 200-day simple moving average of $9.08. The company has a quick ratio of 0.57, a current ratio of 0.78 and a debt-to-equity ratio of 1.57. The firm has a market cap of $223.47 million, a P/E ratio of 0.32, a P/E/G ratio of 0.03 and a beta of 2.48.

Mallinckrodt (NYSE:MNK) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.43. The business had revenue of $823.30 million during the quarter, compared to the consensus estimate of $817.55 million. Mallinckrodt had a positive return on equity of 18.96% and a negative net margin of 111.46%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.16 earnings per share. On average, sell-side analysts anticipate that Mallinckrodt PLC will post 8.48 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Mallinckrodt by 0.3% in the second quarter. BlackRock Inc. now owns 9,929,685 shares of the company’s stock worth $91,155,000 after purchasing an additional 28,512 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Mallinckrodt by 18.4% during the second quarter. Vanguard Group Inc. now owns 9,809,305 shares of the company’s stock valued at $90,049,000 after acquiring an additional 1,527,591 shares in the last quarter. Morgan Stanley increased its holdings in shares of Mallinckrodt by 1,395.5% during the second quarter. Morgan Stanley now owns 3,275,676 shares of the company’s stock valued at $30,071,000 after acquiring an additional 3,056,636 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Mallinckrodt by 7.0% during the second quarter. AQR Capital Management LLC now owns 2,517,723 shares of the company’s stock valued at $22,861,000 after acquiring an additional 164,434 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Mallinckrodt by 37.9% during the second quarter. Invesco Ltd. now owns 2,038,239 shares of the company’s stock valued at $18,711,000 after acquiring an additional 559,939 shares in the last quarter.

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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