Mallinckrodt PLC (MNK) Forecasted to Earn Q3 2017 Earnings of $1.81 Per Share
Mallinckrodt PLC (NYSE:MNK) – Equities research analysts at Oppenheimer Holdings lowered their Q3 2017 earnings estimates for shares of Mallinckrodt PLC in a report released on Monday. Oppenheimer Holdings analyst D. Archila now anticipates that the company will post earnings per share of $1.81 for the quarter, down from their prior estimate of $1.89. Oppenheimer Holdings also issued estimates for Mallinckrodt PLC’s Q4 2017 earnings at $1.95 EPS, FY2017 earnings at $7.28 EPS, Q1 2018 earnings at $1.61 EPS, Q2 2018 earnings at $2.15 EPS, Q3 2018 earnings at $2.10 EPS and Q4 2018 earnings at $2.48 EPS.
MNK has been the subject of several other reports. UBS AG restated a “buy” rating and set a $70.00 price target on shares of Mallinckrodt PLC in a report on Wednesday, September 6th. BidaskClub upgraded Mallinckrodt PLC from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Deutsche Bank AG restated a “buy” rating and set a $45.00 price target (down from $56.00) on shares of Mallinckrodt PLC in a report on Thursday, September 14th. Zacks Investment Research downgraded Mallinckrodt PLC from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Jefferies Group LLC restated a “buy” rating and set a $70.00 price target on shares of Mallinckrodt PLC in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company. Mallinckrodt PLC presently has an average rating of “Buy” and an average price target of $60.04.
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Mallinckrodt PLC (NYSE:MNK) opened at 34.73 on Wednesday. Mallinckrodt PLC has a 12-month low of $33.61 and a 12-month high of $68.43. The firm’s 50-day moving average is $36.46 and its 200-day moving average is $41.55. The stock’s market capitalization is $3.37 billion.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $1.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.12. The firm had revenue of $824.50 million for the quarter, compared to the consensus estimate of $829.56 million. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.03 EPS.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Lord Abbett & CO. LLC raised its stake in Mallinckrodt PLC by 2.1% during the 2nd quarter. Lord Abbett & CO. LLC now owns 610,870 shares of the company’s stock valued at $27,373,000 after purchasing an additional 12,700 shares during the period. Sentry Investment Management LLC raised its stake in Mallinckrodt PLC by 1.6% during the 2nd quarter. Sentry Investment Management LLC now owns 52,676 shares of the company’s stock valued at $2,360,000 after purchasing an additional 817 shares during the period. Toronto Dominion Bank raised its stake in Mallinckrodt PLC by 42.2% during the 2nd quarter. Toronto Dominion Bank now owns 40,221 shares of the company’s stock valued at $1,802,000 after purchasing an additional 11,935 shares during the period. Sterling Capital Management LLC bought a new stake in Mallinckrodt PLC during the 2nd quarter valued at approximately $204,000. Finally, Janus Henderson Group PLC raised its stake in Mallinckrodt PLC by 6,828.1% during the 2nd 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 period. 97.40% of the stock is currently owned by institutional investors.
In related news, insider Meredith B. Fischer acquired 1,280 shares of the stock in a transaction dated Wednesday, August 30th. The shares were purchased at an average cost of $39.63 per share, with a total value of $50,726.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.77% of the stock is owned by insiders.
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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