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Mallinckrodt PLC (NYSE:MNK) Downgraded by UBS AG

23 Novembre 2017

Mallinckrodt Public Limited Company (NYSE:MNK) recent drop took place on significantly more volume which surged almost 3.83 million contracts on 21-Nov-17 versus its daily average of 3.1 million. At the close of regular trading, its last week's stock price volatility was 6.1% which for the month reaches 4.56%.

Several brokerages have issued reports on MNK.

Mallinckrodt PLC (NYSE:MNK) traded up 2.06% during midday trading on Friday, hitting $46.07. ValuEngine raised Mallinckrodt PLC from a "hold" rating to a "buy" rating in a report on Monday, October 2nd. Morgan Stanley downgraded shares of Mallinckrodt PLC from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $65.00 to $40.00 in a research note on Wednesday, September 6th. Stifel Nicolaus lowered their target price on Mallinckrodt PLC from $70.00 to $50.00 and set a "buy" rating for the company in a report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company. Piper Jaffray maintained Mallinckrodt PLC (NYSE:MNK) on Friday, October 20 with "Buy" rating. Glenmede Trust Na invested 0% in Mallinckrodt PLC (NYSE:MNK). The stock has a market capitalization of $2,030.00, a P/E ratio of 2.94, a P/E/G ratio of 0.31 and a beta of 1.46. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.38. Mallinckrodt PLC has a 52-week low of $19.00 and a 52-week high of $58.09.

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Mallinckrodt Public Limited Company (MNK) remained successful in beating the consensus-estimated $1.81 as it actually earned $1.97 per share in its last reported financial results. The company reported $1.97 earnings per share for the quarter, topping analysts' consensus estimates of $1.80 by $0.17. Mallinckrodt PLC had a return on equity of 14.79% and a net margin of 11.43%. During the same quarter previous year, the business posted $2.04 EPS. Mizuho restated a "buy" rating and set a $85.00 price target on shares of Mallinckrodt PLC in a research note on Thursday, January 19th. If you are accessing this piece on another publication, it was illegally stolen and republished in violation of US & worldwide copyright & trademark legislation. The legal version of this piece of content can be accessed at https://www.thelincolnianonline.com/2017/11/21/mallinckrodt-plc-mnk-holdings-lifted-by-municipal-employees-retirement-system-of-michigan.html. Shares for $39,881 were bought by Romano Steven J. The shares were acquired at an average cost of $21.83 per share, with a total value of $218,300.00. Several institutional investors have recently added to or reduced their stakes in the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Matthew K. Harbaugh bought 600 shares of Mallinckrodt PLC stock in a transaction that occurred on Friday, March 10th.

Moving toward the technical facts, its current distance from 20-Day Simple Moving Average is -18.89% and standing -32.01% away from 50-Day Simple Moving Average while traded down -47.95% from 200-Day Simple Moving Average. The disclosure for this purchase can be found here. The stock has performed -1.52% over the last seven days, -30.53% over the last thirty, and -42.52% over the last three months. Moreover, United Bank Inc. has 0.15% invested in the company for 17,000 shares.

A number of equities analysts have recently commented on the stock. Alliancebernstein L.P. lifted its position in Mallinckrodt PLC by 15.4% in the 2nd quarter. Following the transaction, the director now owns 26,020 shares of the company's stock, valued at $568,016.60. Sentry Investment Management LLC now owns 52,676 shares of the company's stock worth $2,360,000 after purchasing an additional 817 shares during the period. Denali Advisors LLC acquired a new position in Mallinckrodt PLC during the 2nd quarter valued at $112,000. Ameriprise Financial Inc. lifted its position in Mallinckrodt PLC by 2.6% during the 3rd quarter. AJO LP now owns 927,472 shares of the company's stock worth $41,560,000 after acquiring an additional 578,266 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in Mallinckrodt PLC by 2.8% in the fourth quarter.