An issue of Mallinckrodt PLC (NYSE:MNK) bonds fell 1.5% against their face value during trading on Friday. The debt issue has a 5.625% coupon and is set to mature on October 15, 2023. The bonds in the issue are now trading at $89.00 and were trading at $90.50 last week. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its share price.

A number of research firms have commented on MNK. Leerink Swann set a $91.00 price objective on shares of Mallinckrodt PLC and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Barclays PLC increased their price target on shares of Mallinckrodt PLC from $75.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. set a $85.00 price target on shares of Mallinckrodt PLC and gave the stock a “hold” rating in a research report on Wednesday, August 3rd. TheStreet lowered shares of Mallinckrodt PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, November 1st. Finally, Jefferies Group reissued a “buy” rating and issued a $95.00 price target (up from $85.00) on shares of Mallinckrodt PLC in a research report on Thursday, August 4th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $89.54.

Shares of Mallinckrodt PLC (NYSE:MNK) traded down 1.32% during midday trading on Friday, hitting $54.59. 4,968,503 shares of the stock traded hands. Mallinckrodt PLC has a 12-month low of $50.90 and a 12-month high of $85.83. The company has a market capitalization of $5.88 billion, a PE ratio of 10.29 and a beta of 1.62. The firm’s 50 day moving average price is $64.05 and its 200 day moving average price is $66.61.

A number of large investors have recently added to or reduced their stakes in MNK. Credit Suisse AG boosted its stake in Mallinckrodt PLC by 18.0% in the third quarter. Credit Suisse AG now owns 231,138 shares of the company’s stock valued at $16,128,000 after buying an additional 35,186 shares during the last quarter. Phocas Financial Corp. boosted its stake in Mallinckrodt PLC by 7.0% in the third quarter. Phocas Financial Corp. now owns 65,006 shares of the company’s stock valued at $4,536,000 after buying an additional 4,279 shares during the last quarter. Chartwell Investment Partners LLC purchased a new stake in Mallinckrodt PLC during the third quarter valued at approximately $31,922,000. Xact Kapitalforvaltning AB purchased a new stake in Mallinckrodt PLC during the third quarter valued at approximately $492,000. Finally, Panagora Asset Management Inc. boosted its stake in Mallinckrodt PLC by 608.2% in the third quarter. Panagora Asset Management Inc. now owns 160,789 shares of the company’s stock valued at $11,220,000 after buying an additional 138,084 shares during the last quarter. Hedge funds and other institutional investors own 94.77% of the company’s stock.

Mallinckrodt PLC Company Profile

Mallinckrodt public limited company (Mallinckrodt) is engaged in the specialty pharmaceuticals and nuclear imaging business. The Company develops, manufactures, markets and distributes specialty pharmaceutical and biopharmaceutical products, and nuclear imaging agents. The Company’s segments include Specialty Brands, Specialty Generics and Nuclear Imaging.

5 Day Chart for NYSE:MNK

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