Piper Jaffray Companies Analysts Boost Earnings Estimates for Mallinckrodt PLC (MNK)

Mallinckrodt PLC (NYSE:MNK) – Equities researchers at Piper Jaffray Companies boosted their Q3 2018 EPS estimates for shares of Mallinckrodt in a note issued to investors on Tuesday, August 7th. Piper Jaffray Companies analyst D. Amsellem now expects that the company will post earnings of $1.89 per share for the quarter, up from their previous forecast of $1.65. Piper Jaffray Companies has a “Buy” rating and a $39.00 price target on the stock. Piper Jaffray Companies also issued estimates for Mallinckrodt’s Q4 2018 earnings at $1.87 EPS, FY2018 earnings at $6.84 EPS, Q1 2019 earnings at $1.51 EPS, Q2 2019 earnings at $1.97 EPS, Q3 2019 earnings at $2.07 EPS, Q4 2019 earnings at $2.05 EPS, FY2019 earnings at $7.61 EPS, FY2020 earnings at $5.92 EPS and FY2021 earnings at $4.08 EPS.

A number of other brokerages have also commented on MNK. Cantor Fitzgerald reissued a “buy” rating and set a $42.00 price objective on shares of Mallinckrodt in a report on Tuesday, August 7th. Stifel Nicolaus increased their price objective on shares of Mallinckrodt from $18.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday. Raymond James lowered shares of Mallinckrodt from an “outperform” rating to a “market perform” rating and set a $58.00 price objective on the stock. in a report on Wednesday. They noted that the move was a valuation call. BMO Capital Markets reissued an “outperform” rating and set a $37.00 price objective on shares of Mallinckrodt in a report on Tuesday, August 7th. Finally, Wells Fargo & Co set a $30.00 price objective on shares of Mallinckrodt and gave the stock a “market perform” rating in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.95.

Shares of NYSE:MNK opened at $31.10 on Friday. Mallinckrodt has a 12 month low of $11.65 and a 12 month high of $41.70. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.90 and a current ratio of 2.27. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 4.15, a P/E/G ratio of 0.46 and a beta of 1.36.

Mallinckrodt (NYSE:MNK) last issued its quarterly earnings data on Tuesday, August 7th. The company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.30. Mallinckrodt had a net margin of 59.85% and a return on equity of 10.39%. The firm had revenue of $631.70 million for the quarter, compared to analyst estimates of $621.15 million.

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. acquired a new stake in shares of Mallinckrodt in the 1st quarter valued at approximately $104,000. Bronfman E.L. Rothschild L.P. raised its position in shares of Mallinckrodt by 11,188.0% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 10,385 shares of the company’s stock valued at $150,000 after acquiring an additional 10,293 shares during the period. Advisors Preferred LLC raised its position in shares of Mallinckrodt by 493.9% in the 2nd quarter. Advisors Preferred LLC now owns 10,512 shares of the company’s stock valued at $196,000 after acquiring an additional 8,742 shares during the period. Balasa Dinverno & Foltz LLC acquired a new stake in shares of Mallinckrodt in the 2nd quarter valued at approximately $200,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of Mallinckrodt in the 1st quarter valued at approximately $175,000.

In other Mallinckrodt news, insider Mark Trudeau bought 3,000 shares of Mallinckrodt stock in a transaction dated Wednesday, May 16th. The shares were bought at an average price of $15.54 per share, with a total value of $46,620.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

Mallinckrodt Company Profile

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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Earnings History and Estimates for Mallinckrodt (NYSE:MNK)

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