Mallinckrodt PLC (NYSE:MNK) – Investment analysts at Cantor Fitzgerald upped their FY2018 earnings estimates for Mallinckrodt in a research report issued to clients and investors on Wednesday, August 8th. Cantor Fitzgerald analyst L. Chen now forecasts that the company will earn $6.52 per share for the year, up from their previous forecast of $6.05. Cantor Fitzgerald has a “Buy” rating and a $42.00 price target on the stock.
Mallinckrodt (NYSE:MNK) last released its quarterly earnings results on Tuesday, August 7th. The company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.30. The business had revenue of $631.70 million during the quarter, compared to analysts’ expectations of $621.15 million. Mallinckrodt had a return on equity of 10.39% and a net margin of 59.85%.
NYSE MNK opened at $31.10 on Monday. The firm has a market cap of $2.55 billion, a PE ratio of 4.15, a price-to-earnings-growth ratio of 0.48 and a beta of 1.36. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.27 and a quick ratio of 1.90. Mallinckrodt has a twelve month low of $11.65 and a twelve month high of $41.70.
In other news, insider Mark Trudeau bought 3,000 shares of the stock in a transaction that occurred on Wednesday, May 16th. The stock was bought at an average cost of $15.54 per share, for a total transaction of $46,620.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in MNK. Victory Capital Management Inc. purchased a new position in Mallinckrodt during the 1st quarter valued at about $104,000. Bronfman E.L. Rothschild L.P. boosted its holdings in Mallinckrodt by 11,188.0% during 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. Virginia Retirement Systems ET AL acquired a new stake in Mallinckrodt in the 1st quarter valued at about $175,000. Financial Gravity Wealth Inc. acquired a new stake in Mallinckrodt in the 1st quarter valued at about $182,000. Finally, Advisors Preferred LLC raised its position in 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 purchasing an additional 8,742 shares in the last quarter.
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.
Read More: What kind of dividend yield to CEF’s pay?
Receive News & Ratings for Mallinckrodt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mallinckrodt and related companies with MarketBeat.com's FREE daily email newsletter.