Mallinckrodt PLC (NYSE:MNK) – Equities research analysts at Cantor Fitzgerald lowered their FY2018 earnings per share (EPS) estimates for shares of Mallinckrodt in a research note issued to investors on Monday, Zacks Investment Research reports. Cantor Fitzgerald analyst L. Chen now anticipates that the company will post earnings per share of $5.78 for the year, down from their prior forecast of $7.31. Cantor Fitzgerald has a “Buy” rating and a $42.00 price objective on the stock.
Mallinckrodt (NYSE:MNK) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.80 by $0.17. The business had revenue of $793.90 million for the quarter, compared to analysts’ expectations of $808.93 million. Mallinckrodt had a net margin of 11.43% and a return on equity of 14.79%. The firm’s revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.04 EPS.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Mallinckrodt from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Canaccord Genuity set a $24.00 price target on shares of Mallinckrodt and gave the stock a “hold” rating in a research report on Tuesday, November 14th. Wells Fargo & Co reissued a “hold” rating on shares of Mallinckrodt in a research report on Monday, January 1st. Mizuho reissued a “neutral” rating and set a $21.00 price target (down from $22.00) on shares of Mallinckrodt in a research report on Tuesday, January 9th. Finally, Oppenheimer cut their price target on shares of Mallinckrodt from $70.00 to $48.00 in a research report on Tuesday, September 19th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the company’s stock. Mallinckrodt has an average rating of “Hold” and an average price target of $44.99.
Shares of Mallinckrodt (NYSE MNK) traded up $0.60 during trading hours on Thursday, reaching $23.50. 2,490,375 shares of the company’s stock traded hands, compared to its average volume of 2,620,872. The company has a quick ratio of 1.05, a current ratio of 1.38 and a debt-to-equity ratio of 1.08. Mallinckrodt has a 52-week low of $19.00 and a 52-week high of $55.32. The company has a market cap of $2,232.62, a PE ratio of 6.35, a PEG ratio of 0.44 and a beta of 1.30.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sentry Investment Management LLC grew its position in shares of Mallinckrodt by 1.6% during the 2nd quarter. Sentry Investment Management LLC now owns 52,676 shares of the company’s stock worth $2,360,000 after purchasing an additional 817 shares in the last quarter. QS Investors LLC grew its position in shares of Mallinckrodt by 10.8% during the 2nd quarter. QS Investors LLC now owns 9,477 shares of the company’s stock worth $425,000 after purchasing an additional 923 shares in the last quarter. Accident Compensation Corp grew its position in shares of Mallinckrodt by 2.7% during the 2nd quarter. Accident Compensation Corp now owns 38,390 shares of the company’s stock worth $1,720,000 after purchasing an additional 1,000 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its position in shares of Mallinckrodt by 24.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 5,640 shares of the company’s stock worth $253,000 after purchasing an additional 1,110 shares in the last quarter. Finally, Alps Advisors Inc. grew its position in shares of Mallinckrodt by 22.3% during the 2nd quarter. Alps Advisors Inc. now owns 6,465 shares of the company’s stock worth $290,000 after purchasing an additional 1,179 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.
In related news, Director David R. Carlucci purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were acquired at an average price of $21.83 per share, for a total transaction of $218,300.00. Following the purchase, the director now owns 26,020 shares in the company, valued at $568,016.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Trudeau purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was bought at an average price of $22.28 per share, for a total transaction of $111,400.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 30,460 shares of company stock worth $659,486. 0.77% of the stock is owned by company insiders.
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Mallinckrodt 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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