Equities research analysts predict that Mallinckrodt PLC (NYSE:MNK) will report $830.20 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Mallinckrodt’s earnings, with the highest sales estimate coming in at $841.60 million and the lowest estimate coming in at $821.92 million. Mallinckrodt reported sales of $631.70 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 31.4%. The business is expected to issue its next earnings results on Tuesday, August 6th.

According to Zacks, analysts expect that Mallinckrodt will report full year sales of $3.24 billion for the current year, with estimates ranging from $3.16 billion to $3.29 billion. For the next fiscal year, analysts forecast that the business will post sales of $3.10 billion, with estimates ranging from $2.73 billion to $3.34 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Mallinckrodt.

Mallinckrodt (NYSE:MNK) last posted its earnings results on Tuesday, May 7th. The company reported $1.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.21. The business had revenue of $791.00 million during the quarter, compared to the consensus estimate of $766.27 million. Mallinckrodt had a positive return on equity of 14.22% and a negative net margin of 118.53%. Mallinckrodt’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $1.31 EPS.

MNK has been the subject of several research analyst reports. Canaccord Genuity set a $40.00 price objective on Mallinckrodt and gave the company a “buy” rating in a research report on Monday, March 18th. Mizuho cut their price objective on Mallinckrodt from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, May 16th. Berenberg Bank reiterated a “sell” rating and issued a $5.00 price objective (down previously from $10.00) on shares of Mallinckrodt in a research report on Tuesday, May 21st. Morgan Stanley set a $32.00 price objective on Mallinckrodt and gave the company a “hold” rating in a research report on Thursday, February 28th. Finally, ValuEngine downgraded Mallinckrodt from a “sell” rating to a “strong sell” rating in a research report on Monday, May 13th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $20.83.

In other news, CFO Bryan M. Reasons bought 5,400 shares of the stock in a transaction dated Friday, June 7th. The stock was bought at an average cost of $8.96 per share, with a total value of $48,384.00. Following the purchase, the chief financial officer now owns 17,979 shares of the company’s stock, valued at $161,091.84. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders bought a total of 8,400 shares of company stock valued at $83,234 over the last three months. Insiders own 2.70% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNK. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in shares of Mallinckrodt in the 1st quarter valued at $47,464,000. Norges Bank acquired a new stake in shares of Mallinckrodt in the 4th quarter valued at $26,615,000. Dimensional Fund Advisors LP increased its stake in shares of Mallinckrodt by 15.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,357,117 shares of the company’s stock valued at $100,443,000 after buying an additional 840,414 shares during the period. Acadian Asset Management LLC increased its stake in shares of Mallinckrodt by 90.6% in the 4th quarter. Acadian Asset Management LLC now owns 1,694,860 shares of the company’s stock valued at $26,781,000 after buying an additional 805,751 shares during the period. Finally, LSV Asset Management grew its stake in shares of Mallinckrodt by 21.1% during the fourth quarter. LSV Asset Management now owns 4,090,968 shares of the company’s stock worth $64,637,000 after purchasing an additional 713,709 shares during the period.

MNK traded down $0.57 during trading on Friday, hitting $9.28. The company’s stock had a trading volume of 1,835,704 shares, compared to its average volume of 2,383,506. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.08 and a current ratio of 1.45. Mallinckrodt has a 12 month low of $8.42 and a 12 month high of $36.65. The company has a market cap of $781.15 million, a price-to-earnings ratio of 1.16, a PEG ratio of 0.09 and a beta of 2.39.

Mallinckrodt Company Profile

Mallinckrodt plc, together with its subsidiaries, develops, manufactures, markets, and distributes specialty pharmaceutical products and therapies in the United States, Europe, the Middle East, Africa, and internationally. It operates in two segments, Specialty Brands, and Specialty Generics and Amitiza.

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Earnings History and Estimates for Mallinckrodt (NYSE:MNK)

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