Mallinckrodt PLC (MNK) Announces Quarterly Earnings Results
Mallinckrodt PLC (NYSE:MNK) issued its quarterly earnings results on Tuesday. The company reported $2.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.01 by $0.03. Mallinckrodt PLC had a return on equity of 17.78% and a net margin of 16.39%. The company had revenue of $887.20 million for the quarter, compared to the consensus estimate of $880.10 million. During the same quarter in the prior year, the business earned $1.84 EPS. Mallinckrodt PLC’s revenue was up 13.9% on a year-over-year basis.
Shares of Mallinckrodt PLC (NYSE:MNK) opened at 52.42 on Wednesday. The stock has a market capitalization of $5.65 billion, a P/E ratio of 9.88 and a beta of 1.62. Mallinckrodt PLC has a 1-year low of $50.90 and a 1-year high of $85.83. The company has a 50 day moving average price of $61.54 and a 200-day moving average price of $66.60.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNK. Exxonmobil Investment Management Inc. TX boosted its position in Mallinckrodt PLC by 3.9% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 28,299 shares of the company’s stock valued at $1,720,000 after buying an additional 1,050 shares during the period. Quotient Investors LLC acquired a new position in Mallinckrodt PLC during the second quarter valued at approximately $486,000. Creative Planning boosted its position in Mallinckrodt PLC by 21.0% in the second quarter. Creative Planning now owns 8,702 shares of the company’s stock valued at $529,000 after buying an additional 1,512 shares during the period. Capstone Asset Management Co. boosted its position in Mallinckrodt PLC by 3.9% in the second quarter. Capstone Asset Management Co. now owns 14,341 shares of the company’s stock valued at $872,000 after buying an additional 536 shares during the period. Finally, Eqis Capital Management Inc. boosted its position in Mallinckrodt PLC by 2.9% in the second quarter. Eqis Capital Management Inc. now owns 29,365 shares of the company’s stock valued at $1,785,000 after buying an additional 821 shares during the period. Institutional investors and hedge funds own 86.51% of the company’s stock.
Several equities research analysts have weighed in on MNK shares. Vetr downgraded Mallinckrodt PLC from a “buy” rating to a “sell” rating and set a $72.20 price target on the stock. in a report on Tuesday, August 2nd. Mizuho upped their price target on Mallinckrodt PLC from $83.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Leerink Swann set a $91.00 price target on Mallinckrodt PLC and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Guggenheim restated a “buy” rating and set a $98.00 price target on shares of Mallinckrodt PLC in a report on Wednesday, August 3rd. Finally, Barclays PLC upped their price target on Mallinckrodt PLC from $75.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, August 3rd. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Mallinckrodt PLC currently has an average rating of “Buy” and a consensus price target of $89.44.
About Mallinckrodt PLC
Mallinckrodt public limited company (Mallinckrodt) is engaged in the specialty pharmaceuticals and nuclear imaging business. The Company develops, manufactures, markets and distributes specialty pharmaceutical and biopharmaceutical products, and nuclear imaging agents. The Company’s segments include Specialty Brands, Specialty Generics and Nuclear Imaging.
Receive News & Stock Ratings for Mallinckrodt PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mallinckrodt PLC and related stocks with our FREE daily email newsletter.