Mallinckrodt PLC (NYSE:MNK) – Analysts at Oppenheimer Holdings cut their FY2017 EPS estimates for Mallinckrodt PLC in a note issued to investors on Tuesday. Oppenheimer Holdings analyst D. Archila now anticipates that the company will post earnings per share of $7.04 for the year, down from their previous forecast of $7.28. Oppenheimer Holdings currently has a “Market Perform” rating on the stock. Oppenheimer Holdings also issued estimates for Mallinckrodt PLC’s Q1 2018 earnings at $1.44 EPS.
Mallinckrodt PLC (NYSE:MNK) last posted its earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share for the quarter, topping 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 quarter in the prior year, the firm earned $2.04 EPS. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year.
MNK has been the topic of a number of other reports. Piper Jaffray Companies set a $67.00 target price on shares of Mallinckrodt PLC and gave the company a “buy” rating in a research report on Saturday, October 21st. Zacks Investment Research upgraded shares of Mallinckrodt PLC from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Goldman Sachs Group, Inc. (The) began coverage on shares of Mallinckrodt PLC in a research report on Thursday, September 28th. They set a “buy” rating and a $55.00 target price on the stock. UBS Group AG reiterated a “buy” rating and issued a $70.00 price target on shares of Mallinckrodt PLC in a research report on Wednesday, September 6th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Mallinckrodt PLC in a research report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. Mallinckrodt PLC presently has a consensus rating of “Hold” and an average target price of $48.14.
Shares of Mallinckrodt PLC (NYSE:MNK) opened at $21.37 on Thursday. 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 PLC has a fifty-two week low of $19.00 and a fifty-two week high of $58.09. The firm has a market cap of $2,032.16, a PE ratio of 2.89, a PEG ratio of 0.31 and a beta of 1.46.
A number of institutional investors and hedge funds have recently modified their holdings of MNK. Sterling Capital Management LLC acquired a new position in Mallinckrodt PLC in the second quarter valued at approximately $204,000. Advisor Partners LLC acquired a new position in Mallinckrodt PLC in the second quarter valued at approximately $242,000. Municipal Employees Retirement System of Michigan lifted its stake in Mallinckrodt PLC by 24.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 5,640 shares of the company’s stock valued at $253,000 after buying an additional 1,110 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in Mallinckrodt PLC in the second quarter valued at approximately $260,000. Finally, Alps Advisors Inc. raised its position in shares of Mallinckrodt PLC by 22.3% during the second quarter. Alps Advisors Inc. now owns 6,465 shares of the company’s stock worth $290,000 after purchasing an additional 1,179 shares during the period. 97.40% of the stock is currently owned by hedge funds and other institutional investors.
In other Mallinckrodt PLC news, insider Meredith B. Fischer purchased 1,280 shares of the company’s stock in a transaction on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Steven J. Romano purchased 2,000 shares of the company’s stock in a transaction on Monday, November 13th. The stock was acquired at an average cost of $21.96 per share, for a total transaction of $43,920.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 27,180 shares of company stock worth $610,166. Company insiders own 0.77% of the company’s stock.
About Mallinckrodt PLC
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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