FY2017 EPS Estimates for Mallinckrodt PLC (MNK) Cut by Jefferies Group

Mallinckrodt PLC (NYSE:MNK) – Research analysts at Jefferies Group cut their FY2017 earnings per share estimates for Mallinckrodt PLC in a research note issued on Tuesday. Jefferies Group analyst A. Petrone now anticipates that the company will post earnings per share of $7.25 for the year, down from their previous estimate of $7.40. Jefferies Group has a “Buy” rating and a $30.00 price objective on the stock. Jefferies Group also issued estimates for Mallinckrodt PLC’s Q1 2018 earnings at $1.55 EPS and Q2 2018 earnings at $1.66 EPS.

MNK has been the topic of several other reports. Canaccord Genuity set a $87.00 price objective on shares of Mallinckrodt PLC and gave the company a “buy” rating in a report on Monday, July 17th. ValuEngine upgraded shares of Mallinckrodt PLC from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of Mallinckrodt PLC from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. Morgan Stanley lowered shares of Mallinckrodt PLC from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $65.00 to $40.00 in a report on Wednesday, September 6th. Finally, Mizuho reiterated a “hold” rating and issued a $40.00 target price on shares of Mallinckrodt PLC in a report on Sunday, October 15th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. Mallinckrodt PLC has an average rating of “Hold” and an average target price of $50.44.

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Mallinckrodt PLC (NYSE:MNK) opened at $21.76 on Thursday. Mallinckrodt PLC has a twelve month low of $19.00 and a twelve month high of $68.12. The firm has a market cap of $2,109.11, a P/E ratio of 3.00, a P/E/G ratio of 0.33 and a beta of 1.46. The company has a quick ratio of 0.81, a current ratio of 1.38 and a debt-to-equity ratio of 1.08.

Mallinckrodt PLC (NYSE:MNK) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $1.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.80 by $0.17. Mallinckrodt PLC had a net margin of 11.43% and a return on equity of 14.79%. The business had revenue of $793.90 million for the quarter, compared to analyst estimates of $808.93 million. During the same period in the prior year, the business posted $2.04 earnings per share. Mallinckrodt PLC’s revenue was down 10.5% compared to the same quarter last year.

A number of hedge funds have recently made changes to their positions in MNK. OppenheimerFunds Inc. lifted its stake in Mallinckrodt PLC by 23.1% in the first quarter. OppenheimerFunds Inc. now owns 8,887 shares of the company’s stock valued at $396,000 after acquiring an additional 1,666 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Mallinckrodt PLC by 0.4% in the first quarter. Principal Financial Group Inc. now owns 164,395 shares of the company’s stock valued at $7,328,000 after acquiring an additional 699 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Mallinckrodt PLC in the first quarter valued at $373,000. Teachers Advisors LLC lifted its stake in Mallinckrodt PLC by 4.3% in the first quarter. Teachers Advisors LLC now owns 187,286 shares of the company’s stock valued at $8,347,000 after acquiring an additional 7,753 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in Mallinckrodt PLC by 6.2% in the first quarter. Amalgamated Bank now owns 7,625 shares of the company’s stock valued at $340,000 after acquiring an additional 447 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

In other news, insider Meredith B. Fischer purchased 1,280 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was purchased at an average price of $39.63 per share, for a total transaction of $50,726.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.77% of the company’s stock.

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.

Earnings History and Estimates for Mallinckrodt PLC (NYSE:MNK)

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