Cantor Fitzgerald Reiterates $42.00 Price Target for Mallinckrodt (MNK)

Mallinckrodt (NYSE:MNK) received a $42.00 price target from equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday. The brokerage currently has a “buy” rating on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 86.17% from the stock’s previous close. Cantor Fitzgerald also issued estimates for Mallinckrodt’s FY2018 earnings at $5.78 EPS.

MNK has been the subject of several other reports. ValuEngine upgraded shares of Mallinckrodt from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research raised shares of Mallinckrodt from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. Morgan Stanley downgraded shares of Mallinckrodt from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $65.00 to $40.00 in a research note on Wednesday, September 6th. Mizuho restated a “hold” rating and issued a $40.00 target price on shares of Mallinckrodt in a report on Sunday, October 15th. Finally, Canaccord Genuity set a $24.00 price objective on shares of Mallinckrodt and gave the company a “hold” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $47.64.

Mallinckrodt (NYSE:MNK) traded down $0.24 during trading hours on Tuesday, hitting $22.56. 2,201,461 shares of the company were exchanged, compared to its average volume of 2,619,516. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.38 and a quick ratio of 1.05. The company has a market cap of $2,211.71, a PE ratio of 6.10, a PEG ratio of 0.42 and a beta of 1.30. Mallinckrodt has a 52 week low of $19.00 and a 52 week high of $55.32.

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

In related news, Director David R. Carlucci bought 10,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were bought at an average cost of $21.83 per share, for a total transaction of $218,300.00. Following the transaction, the director now owns 26,020 shares of the company’s stock, valued at $568,016.60. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Steven J. Romano acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was acquired 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. In the last three months, insiders have acquired 30,460 shares of company stock worth $659,486. 0.77% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of MNK. Sterling Capital Management LLC acquired a new stake in Mallinckrodt during the 2nd quarter worth approximately $204,000. Shelton Capital Management purchased a new position in Mallinckrodt in the 3rd quarter worth approximately $205,000. Municipal Employees Retirement System of Michigan boosted its holdings in Mallinckrodt by 24.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 5,640 shares of the company’s stock worth $253,000 after acquiring an additional 1,110 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in Mallinckrodt in the 2nd quarter worth approximately $260,000. Finally, Alps Advisors Inc. boosted its stake in shares of Mallinckrodt by 22.3% during the 2nd quarter. Alps Advisors Inc. now owns 6,465 shares of the company’s stock valued at $290,000 after buying an additional 1,179 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

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Mallinckrodt Company Profile

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)