Mallinckrodt PLC (MNK) Releases Earnings Results, Beats Estimates By $0.05 EPS
Mallinckrodt PLC (NYSE:MNK) posted its quarterly earnings data on Monday. The company reported $1.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.05. The company had revenue of $810.90 million during the quarter, compared to analysts’ expectations of $781.23 million. Mallinckrodt PLC had a net margin of 7.75% and a return on equity of 17.34%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $2.01 earnings per share.
Shares of Mallinckrodt PLC (NYSE:MNK) traded down 0.73% during mid-day trading on Friday, reaching $40.57. 975,751 shares of the company traded hands. Mallinckrodt PLC has a 52-week low of $39.50 and a 52-week high of $85.83. The firm’s 50 day moving average price is $44.96 and its 200-day moving average price is $50.23. The company’s market capitalization is $4.03 billion.
A number of research firms have recently issued reports on MNK. Zacks Investment Research raised shares of Mallinckrodt PLC from a “strong sell” rating to a “hold” rating in a report on Thursday, February 9th. JPMorgan Chase & Co. set a $78.00 target price on shares of Mallinckrodt PLC and gave the stock a “hold” rating in a report on Wednesday, January 25th. Vetr lowered shares of Mallinckrodt PLC from a “strong-buy” rating to a “hold” rating and set a $51.34 price objective for the company. in a report on Monday, February 13th. Jefferies Group LLC reissued a “buy” rating and issued a $70.00 price objective on shares of Mallinckrodt PLC in a report on Friday, April 21st. Finally, Leerink Swann reissued an “outperform” rating on shares of Mallinckrodt PLC in a report on Monday, March 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $76.55.
In other news, VP Coleman N. Lannum III bought 1,968 shares of the stock in a transaction dated Friday, May 12th. The stock was bought at an average cost of $46.20 per share, with a total value of $90,921.60. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Matthew K. Harbaugh bought 600 shares of the stock in a transaction dated Friday, March 10th. The stock was purchased at an average cost of $49.19 per share, with a total value of $29,514.00. The disclosure for this purchase can be found here. Insiders acquired a total of 4,858 shares of company stock valued at $243,717 in the last quarter. Corporate insiders own 0.53% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Catalyst Capital Advisors LLC bought a new stake in shares of Mallinckrodt PLC during the third quarter worth approximately $119,000. Focused Wealth Management Inc boosted its stake in shares of Mallinckrodt PLC by 19.7% in the fourth quarter. Focused Wealth Management Inc now owns 2,426 shares of the company’s stock worth $121,000 after buying an additional 400 shares during the period. IFP Advisors Inc boosted its stake in shares of Mallinckrodt PLC by 324.6% in the first quarter. IFP Advisors Inc now owns 2,518 shares of the company’s stock worth $112,000 after buying an additional 1,925 shares during the period. Ameritas Investment Partners Inc. acquired a new position in Mallinckrodt PLC during the first quarter worth about $115,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in Mallinckrodt PLC by 2.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,834 shares of the company’s stock worth $143,000 after buying an additional 78 shares during the last quarter. 88.79% of the stock is owned by institutional investors and hedge funds.
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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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