Mallinckrodt PLC (MNK) Issues Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Mallinckrodt PLC (NYSE:MNK) released its quarterly earnings results on Tuesday, August 8th. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.12, Bloomberg Earnings reports. The company had revenue of $824.50 million during the quarter, compared to the consensus estimate of $829.56 million. Mallinckrodt PLC had a return on equity of 15.28% and a net margin of 12.64%. Mallinckrodt PLC’s revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.03 earnings per share. Mallinckrodt PLC updated its FY17 guidance to $7.40-8.00 EPS.

Shares of Mallinckrodt PLC (MNK) traded up 0.08% during mid-day trading on Friday, reaching $36.39. The company had a trading volume of 1,503,492 shares. Mallinckrodt PLC has a 52-week low of $35.04 and a 52-week high of $85.83. The company’s 50-day moving average price is $42.53 and its 200-day moving average price is $45.18. The company’s market capitalization is $3.54 billion.

TRADEMARK VIOLATION NOTICE: This article was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this article on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark laws. The legal version of this article can be accessed at https://www.com-unik.info/2017/08/19/mallinckrodt-plc-mnk-releases-earnings-results-beats-expectations-by-0-12-eps-updated.html.

In related news, VP Hugh M. O’neill bought 1,000 shares of Mallinckrodt PLC stock in a transaction that occurred on Thursday, June 8th. The stock was acquired at an average price of $40.24 per share, for a total transaction of $40,240.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Coleman N. Lannum III bought 1,350 shares of Mallinckrodt PLC stock in a transaction that occurred on Friday, June 2nd. The stock was bought at an average price of $42.89 per share, with a total value of $57,901.50. Following the purchase, the vice president now owns 30,955 shares of the company’s stock, valued at approximately $1,327,659.95. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 3,850 shares of company stock valued at $157,687. 0.77% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Mallinckrodt PLC by 1.0% in the first quarter. Vanguard Group Inc. now owns 10,247,891 shares of the company’s stock valued at $456,748,000 after buying an additional 103,924 shares during the period. BlackRock Inc. raised its stake in Mallinckrodt PLC by 4,060.7% in the first quarter. BlackRock Inc. now owns 8,734,709 shares of the company’s stock valued at $389,307,000 after buying an additional 8,524,773 shares during the last quarter. State Street Corp raised its stake in Mallinckrodt PLC by 5.1% in the first quarter. State Street Corp now owns 5,197,656 shares of the company’s stock valued at $231,654,000 after buying an additional 250,838 shares during the last quarter. Alliancebernstein L.P. raised its stake in Mallinckrodt PLC by 15.4% in the second quarter. Alliancebernstein L.P. now owns 3,348,807 shares of the company’s stock valued at $150,060,000 after buying an additional 448,011 shares during the last quarter. Finally, HealthCor Management L.P. purchased a new stake in Mallinckrodt PLC during the second quarter valued at $107,649,000. 94.65% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on the company. UBS AG set a $70.00 price target on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Wednesday, May 24th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $65.00 price objective (down previously from $69.00) on shares of Mallinckrodt PLC in a research report on Wednesday, August 9th. BidaskClub downgraded Mallinckrodt PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Deutsche Bank AG set a $56.00 price objective on Mallinckrodt PLC and gave the company a “buy” rating in a research report on Wednesday, August 9th. Finally, Raymond James Financial, Inc. lowered their price objective on Mallinckrodt PLC from $65.00 to $58.00 and set an “outperform” rating for the company in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Mallinckrodt PLC has a consensus rating of “Buy” and a consensus price target of $71.25.

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.

Earnings History for Mallinckrodt PLC (NYSE:MNK)

What are top analysts saying about Mallinckrodt PLC? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Mallinckrodt PLC and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit