FY2017 EPS Estimates for Mallinckrodt PLC Decreased by Cantor Fitzgerald (MNK)
Mallinckrodt PLC (NYSE:MNK) – Investment analysts at Cantor Fitzgerald dropped their FY2017 earnings per share (EPS) estimates for shares of Mallinckrodt PLC in a research report issued to clients and investors on Thursday. Cantor Fitzgerald analyst L. Chen now expects that the company will post earnings per share of $7.09 for the year, down from their previous estimate of $7.40. Cantor Fitzgerald currently has a “Buy” rating and a $52.00 target price on the stock. Cantor Fitzgerald also issued estimates for Mallinckrodt PLC’s FY2018 earnings at $7.31 EPS.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings results on Tuesday, November 7th. 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%. The business had revenue of $793.90 million for the quarter, compared to the consensus estimate of $808.93 million. During the same period in the prior year, the business earned $2.04 EPS. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis.
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A number of other research firms also recently weighed in on MNK. Oppenheimer Holdings, Inc. set a $70.00 price target on Mallinckrodt PLC and gave the stock a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research raised Mallinckrodt PLC from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. BMO Capital Markets reissued a “buy” rating and set a $69.00 price objective on shares of Mallinckrodt PLC in a report on Friday, July 28th. Piper Jaffray Companies set a $85.00 price objective on Mallinckrodt PLC and gave the stock a “buy” rating in a report on Sunday, July 16th. Finally, Canaccord Genuity set a $87.00 price objective on Mallinckrodt PLC and gave the stock a “buy” rating in a report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $50.44.
Mallinckrodt PLC (MNK) opened at $21.76 on Monday. Mallinckrodt PLC has a 52 week low of $19.00 and a 52 week high of $68.12. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.81 and a current ratio of 1.38. The firm has a market capitalization of $2,070.00, a P/E ratio of 2.94, a P/E/G ratio of 0.32 and a beta of 1.46.
A number of institutional investors have recently bought and sold shares of the stock. Alliancebernstein L.P. lifted its stake in Mallinckrodt PLC by 15.4% in the second quarter. Alliancebernstein L.P. now owns 3,348,807 shares of the company’s stock valued at $150,060,000 after purchasing an additional 448,011 shares during the last quarter. HealthCor Management L.P. purchased a new position in Mallinckrodt PLC in the second quarter valued at approximately $107,649,000. Dimensional Fund Advisors LP lifted its stake in Mallinckrodt PLC by 33.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,161,814 shares of the company’s stock valued at $96,868,000 after purchasing an additional 547,249 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Mallinckrodt PLC by 2.6% in the third quarter. Ameriprise Financial Inc. now owns 1,987,196 shares of the company’s stock valued at $74,260,000 after purchasing an additional 49,752 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Mallinckrodt PLC by 6,828.1% in the second quarter. Janus Henderson Group PLC now owns 1,396,780 shares of the company’s stock valued at $62,590,000 after purchasing an additional 1,376,619 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.
In other news, insider Meredith B. Fischer acquired 1,280 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were acquired at an average price of $39.63 per share, for a total transaction of $50,726.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.77% of the company’s stock.
About Mallinckrodt PLC
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.
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