Mallinckrodt PLC (NYSE:MNK) – Research analysts at Leerink Swann issued their Q1 2018 EPS estimates for shares of Mallinckrodt in a report released on Tuesday, according to Zacks Investment Research. Leerink Swann analyst A. Fadia expects that the company will post earnings of $1.39 per share for the quarter. Leerink Swann has a “Market Perform” rating and a $26.00 price objective on the stock. Leerink Swann also issued estimates for Mallinckrodt’s Q2 2018 earnings at $1.79 EPS, Q3 2018 earnings at $1.99 EPS, Q4 2018 earnings at $2.03 EPS and FY2022 earnings at $7.18 EPS.
Several other analysts also recently issued reports on MNK. Mizuho reissued a “neutral” rating and issued a $21.00 price target (down previously from $22.00) on shares of Mallinckrodt in a research report on Tuesday. Cantor Fitzgerald set a $42.00 price target on shares of Mallinckrodt and gave the company a “buy” rating in a research report on Monday. Goldman Sachs Group reissued a “hold” rating on shares of Mallinckrodt in a research report on Monday, January 1st. Wells Fargo & Co reissued a “hold” rating on shares of Mallinckrodt in a research report on Monday, January 1st. Finally, Canaccord Genuity set a $24.00 price target on shares of Mallinckrodt and gave the company a “hold” rating in a research report on Sunday. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $44.99.
Mallinckrodt (NYSE:MNK) last released its quarterly earnings data on Tuesday, November 7th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.17. Mallinckrodt had a net margin of 11.43% and a return on equity of 14.79%. The company had revenue of $793.90 million during the quarter, compared to analyst estimates of $808.93 million. During the same quarter in the previous year, the business posted $2.04 EPS. Mallinckrodt’s revenue for the quarter was down 10.5% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Shelton Capital Management bought a new stake in shares of Mallinckrodt during the 3rd quarter worth $205,000. Ameritas Investment Partners Inc. raised its stake in shares of Mallinckrodt by 1,051.7% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 29,655 shares of the company’s stock worth $1,218,000 after purchasing an additional 27,080 shares during the period. California Public Employees Retirement System raised its stake in Mallinckrodt by 11.4% in the 3rd quarter. California Public Employees Retirement System now owns 263,970 shares of the company’s stock valued at $9,865,000 after acquiring an additional 26,970 shares during the period. Janney Montgomery Scott LLC raised its stake in Mallinckrodt by 15.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 32,611 shares of the company’s stock valued at $1,219,000 after acquiring an additional 4,369 shares during the period. Finally, Cubist Systematic Strategies LLC raised its stake in Mallinckrodt by 748.1% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 7,989 shares of the company’s stock valued at $299,000 after acquiring an additional 7,047 shares during the period. Institutional investors own 97.35% of the company’s stock.
In other Mallinckrodt news, VP Steven J. Romano bought 2,000 shares of the stock in a transaction dated Monday, November 13th. The shares were bought at an average cost of $21.96 per share, for a total transaction of $43,920.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dr Kneeland Youngblood bought 4,560 shares of the stock in a transaction dated Tuesday, November 28th. The shares were acquired at an average price of $21.94 per share, for a total transaction of $100,046.40. Following the completion of the purchase, the director now directly owns 19,789 shares in the company, valued at $434,170.66. The disclosure for this purchase can be found here. Insiders have bought a total of 30,460 shares of company stock worth $659,486 over the last quarter. Company insiders own 0.53% of the company’s stock.
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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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