Mallinckrodt PLC (NYSE:MNK) – Equities researchers at SVB Leerink cut their FY2020 earnings estimates for Mallinckrodt in a research note issued to investors on Monday, September 14th. SVB Leerink analyst A. Fadia now expects that the company will earn $6.32 per share for the year, down from their previous estimate of $6.36. SVB Leerink currently has a “Market Perform” rating and a $1.50 price target on the stock. SVB Leerink also issued estimates for Mallinckrodt’s FY2021 earnings at $2.87 EPS, FY2022 earnings at $1.62 EPS and FY2023 earnings at $1.51 EPS.

Mallinckrodt (NYSE:MNK) last posted its earnings results on Tuesday, August 4th. The company reported $1.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.55. The business had revenue of $700.90 million during the quarter, compared to the consensus estimate of $630.19 million. Mallinckrodt had a positive return on equity of 34.26% and a negative net margin of 89.94%. Mallinckrodt’s revenue was down 14.9% on a year-over-year basis. During the same quarter last year, the company earned $2.53 EPS.

Other equities analysts also recently issued research reports about the company. ValuEngine upgraded Mallinckrodt from a “sell” rating to a “hold” rating in a research report on Tuesday, September 1st. Barclays reiterated a “hold” rating on shares of Mallinckrodt in a research report on Wednesday, August 5th. Piper Sandler downgraded Mallinckrodt from a “neutral” rating to an “underweight” rating in a research report on Tuesday, August 4th. BMO Capital Markets cut their price objective on Mallinckrodt from $4.00 to $2.00 and set a “market perform” rating for the company in a research report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. downgraded Mallinckrodt from a “neutral” rating to an “underweight” rating in a research report on Tuesday, May 19th. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Mallinckrodt currently has an average rating of “Hold” and an average target price of $2.70.

Mallinckrodt stock opened at $1.13 on Wednesday. The company has a debt-to-equity ratio of 5.39, a current ratio of 1.48 and a quick ratio of 1.23. The company has a market capitalization of $95.59 million, a PE ratio of -0.04, a price-to-earnings-growth ratio of 0.01 and a beta of 3.00. Mallinckrodt has a one year low of $1.00 and a one year high of $6.42. The business has a 50 day simple moving average of $1.60 and a 200 day simple moving average of $2.54.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNK. Virtu Financial LLC acquired a new stake in shares of Mallinckrodt in the 2nd quarter valued at $28,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Mallinckrodt in the 1st quarter valued at $29,000. ProShare Advisors LLC acquired a new stake in shares of Mallinckrodt in the 2nd quarter valued at $32,000. Squarepoint Ops LLC acquired a new stake in shares of Mallinckrodt in the 1st quarter valued at $43,000. Finally, Sontag Advisory LLC acquired a new stake in shares of Mallinckrodt in the 1st quarter valued at $50,000. 61.67% of the stock is owned by institutional investors.

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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