Shares of Mallinckrodt PLC (NYSE:MNK) have received an average rating of “Hold” from the twenty-three analysts that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $45.37.

MNK has been the subject of a number of research reports. ValuEngine cut shares of Mallinckrodt from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Piper Jaffray Companies set a $85.00 target price on shares of Mallinckrodt and gave the company a “buy” rating in a report on Monday, August 7th. BidaskClub cut shares of Mallinckrodt from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Jefferies Group reduced their target price on shares of Mallinckrodt from $70.00 to $60.00 and set a “buy” rating for the company in a report on Friday, August 25th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $65.00 target price (down from $69.00) on shares of Mallinckrodt in a report on Wednesday, August 9th.

In other news, Director David R. Carlucci purchased 10,000 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were acquired at an average cost of $21.83 per share, for a total transaction of $218,300.00. Following the completion of the purchase, the director now directly owns 26,020 shares in the company, valued at approximately $568,016.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Steven J. Romano purchased 2,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were purchased at an average price of $21.96 per share, for a total transaction of $43,920.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 30,460 shares of company stock worth $659,486. Company insiders own 0.53% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Alliancebernstein L.P. increased its stake 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 acquiring an additional 448,011 shares during the period. Dimensional Fund Advisors LP increased its stake 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 acquiring 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 about $107,649,000. Ameriprise Financial Inc. increased its stake 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 acquiring an additional 49,752 shares during the period. Finally, Alyeska Investment Group L.P. increased its stake 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 acquiring an additional 482,591 shares during the period. Institutional investors and hedge funds own 97.40% of the company’s stock.

Shares of Mallinckrodt (NYSE:MNK) traded up $0.14 on Friday, reaching $21.96. 2,721,936 shares of the company were exchanged, compared to its average volume of 2,583,753. Mallinckrodt has a 52-week low of $19.00 and a 52-week high of $55.32. The stock has a market capitalization of $2,090.00, a PE ratio of 2.94, a PEG ratio of 0.40 and a beta of 1.30. The company has a current ratio of 1.38, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08.

Mallinckrodt (NYSE:MNK) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.17. Mallinckrodt had a net margin of 11.43% and a return on equity of 14.79%. The firm had revenue of $793.90 million during the quarter, compared to analysts’ expectations of $808.93 million. During the same period in the previous year, the company earned $2.04 earnings per share. Mallinckrodt’s quarterly revenue was down 10.5% compared to the same quarter last year. analysts anticipate that Mallinckrodt will post 7.2 earnings per share for the current fiscal year.

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About Mallinckrodt

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.

Analyst Recommendations for Mallinckrodt (NYSE:MNK)

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