Mallinckrodt (NYSE:MNK) released its quarterly earnings data on Tuesday. The company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.31, Morningstar.com reports. Mallinckrodt had a net margin of 59.85% and a return on equity of 10.39%. The company had revenue of $640.00 million during the quarter, compared to analyst estimates of $634.38 million. During the same period last year, the business earned $1.97 earnings per share. Mallinckrodt’s revenue was up 6.6% compared to the same quarter last year. Mallinckrodt updated its FY 2018 guidance to $7.00-7.20 EPS and its FY18 guidance to $7.00-7.20 EPS.
Shares of MNK traded down $0.47 during mid-day trading on Tuesday, reaching $26.69. The company’s stock had a trading volume of 82,922 shares, compared to its average volume of 1,551,331. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 3.65, a PEG ratio of 0.38 and a beta of 1.71. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.06 and a current ratio of 2.27. Mallinckrodt has a 52 week low of $11.65 and a 52 week high of $36.65.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Mallinckrodt by 19.1% in the second quarter. BlackRock Inc. now owns 9,649,420 shares of the company’s stock worth $180,057,000 after buying an additional 1,546,671 shares during the period. Miller Value Partners LLC grew its position in shares of Mallinckrodt by 57.5% in the 2nd quarter. Miller Value Partners LLC now owns 3,338,025 shares of the company’s stock worth $62,288,000 after buying an additional 1,218,750 shares during the period. Acadian Asset Management LLC grew its position in shares of Mallinckrodt by 7,856.9% in the 3rd quarter. Acadian Asset Management LLC now owns 889,109 shares of the company’s stock worth $26,061,000 after buying an additional 877,935 shares during the period. Northern Trust Corp grew its position in shares of Mallinckrodt by 90.5% in the 2nd quarter. Northern Trust Corp now owns 1,333,630 shares of the company’s stock worth $24,884,000 after buying an additional 633,697 shares during the period. Finally, First Trust Advisors LP grew its position in shares of Mallinckrodt by 57.1% in the 2nd quarter. First Trust Advisors LP now owns 1,549,962 shares of the company’s stock worth $28,922,000 after buying an additional 563,419 shares during the period.
A number of equities analysts have recently commented on the stock. Raymond James lowered shares of Mallinckrodt from an “outperform” rating to a “market perform” rating and set a $58.00 price objective for the company. in a research report on Wednesday, August 8th. They noted that the move was a valuation call. Morgan Stanley lifted their target price on shares of Mallinckrodt from $14.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, August 17th. Zacks Investment Research lowered shares of Mallinckrodt from a “buy” rating to a “hold” rating in a research report on Friday, August 24th. Barclays lifted their target price on shares of Mallinckrodt from $12.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, August 8th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $37.00 target price on shares of Mallinckrodt in a research report on Tuesday, August 7th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $31.30.
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Mallinckrodt public limited company develops, manufactures, markets, and distributes branded pharmaceutical products in Canada and the European Union, as well as in Latin American, the Middle Eastern, African, and the Asia-Pacific regions. The company markets branded pharmaceutical products for autoimmune and rare diseases in the specialty areas of neurology, rheumatology, nephrology, ophthalmology, and pulmonology; and immunotherapy and neonatal respiratory critical care therapies, as well as analgesics and gastrointestinal products.
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