Mallinckrodt PLC (MNK) Expected to Earn FY2017 Earnings of $7.04 Per Share
Mallinckrodt PLC (NYSE:MNK) – Equities research analysts at Oppenheimer Holdings reduced their FY2017 EPS estimates for Mallinckrodt PLC in a research note issued to investors on Tuesday. Oppenheimer Holdings analyst D. Archila now forecasts that the company will post earnings of $7.04 per share for the year, down from their prior estimate of $7.28. Oppenheimer Holdings has a “Market Perform” rating on the stock. Oppenheimer Holdings also issued estimates for Mallinckrodt PLC’s Q1 2018 earnings at $1.44 EPS.
Mallinckrodt PLC (NYSE:MNK) last posted its earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.17. The company had revenue of $793.90 million for the quarter, compared to analysts’ expectations of $808.93 million. Mallinckrodt PLC had a return on equity of 14.79% and a net margin of 11.43%. Mallinckrodt PLC’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the firm earned $2.04 earnings per share. ILLEGAL ACTIVITY NOTICE: “Mallinckrodt PLC (MNK) Expected to Earn FY2017 Earnings of $7.04 Per Share” was originally reported by Watch List News and is the property of of Watch List News. If you are viewing this article on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright laws. The legal version of this article can be accessed at https://www.watchlistnews.com/mallinckrodt-plc-mnk-expected-to-earn-fy2017-earnings-of-7-04-per-share/1722827.html.
Several other analysts have also recently issued reports on the company. Piper Jaffray Companies set a $67.00 target price on Mallinckrodt PLC and gave the stock a “buy” rating in a research note on Saturday, October 21st. Zacks Investment Research raised Mallinckrodt PLC from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Goldman Sachs Group Inc started coverage on Mallinckrodt PLC in a research note on Thursday, September 28th. They issued a “buy” rating and a $55.00 target price on the stock. UBS Group AG reissued a “buy” rating and issued a $70.00 target price on shares of Mallinckrodt PLC in a research note on Wednesday, September 6th. Finally, Stifel Nicolaus reissued a “buy” rating on shares of Mallinckrodt PLC in a research note on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $48.14.
Shares of Mallinckrodt PLC (NYSE:MNK) opened at $21.37 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.38 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $2,032.16, a PE ratio of 2.89, a P/E/G ratio of 0.31 and a beta of 1.46. Mallinckrodt PLC has a 12 month low of $19.00 and a 12 month high of $58.09.
Hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its holdings in shares of Mallinckrodt PLC by 117.3% during the second quarter. Ameriprise Financial Inc. now owns 1,937,444 shares of the company’s stock valued at $86,815,000 after purchasing an additional 1,045,757 shares during the last quarter. Icon Advisers Inc. Co. lifted its holdings in shares of Mallinckrodt PLC by 165.6% during the second quarter. Icon Advisers Inc. Co. now owns 114,200 shares of the company’s stock valued at $5,117,000 after purchasing an additional 71,200 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Mallinckrodt PLC by 15.4% during 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. LSV Asset Management lifted its holdings in shares of Mallinckrodt PLC by 24.4% during the second quarter. LSV Asset Management now owns 1,249,612 shares of the company’s stock valued at $55,995,000 after purchasing an additional 244,753 shares during the last quarter. Finally, Twin Capital Management Inc. lifted its holdings in shares of Mallinckrodt PLC by 70.1% during the second quarter. Twin Capital Management Inc. now owns 78,050 shares of the company’s stock valued at $3,497,000 after purchasing an additional 32,170 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.
In other Mallinckrodt PLC news, Director David R. Carlucci bought 10,000 shares of the stock in a transaction dated Thursday, November 9th. The stock was purchased at an average cost of $21.83 per share, for a total transaction of $218,300.00. Following the completion of the acquisition, the director now owns 26,020 shares of the company’s stock, valued at $568,016.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Meredith B. Fischer bought 1,280 shares of the stock in a transaction dated Wednesday, August 30th. The shares were acquired at an average price of $39.63 per share, with a total value of $50,726.40. The disclosure for this purchase can be found here. Insiders have bought 27,180 shares of company stock valued at $610,166 over the last quarter. Company insiders own 0.77% of the company’s stock.
Mallinckrodt PLC 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.
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