FY2018 EPS Estimates for Mallinckrodt PLC Raised by Cantor Fitzgerald (MNK)

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%.

MNK has been the subject of a number of other reports. Leerink Swann lowered their price target on Mallinckrodt and set a “market perform” rating for the company in a report on Monday, April 23rd. ValuEngine cut Mallinckrodt from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. B. Riley started coverage on Mallinckrodt in a report on Wednesday, May 2nd. They set a “neutral” rating and a $15.00 price target for the company. Morgan Stanley lowered their price target on Mallinckrodt from $27.00 to $14.00 and set an “equal weight” rating for the company in a report on Wednesday, May 9th. Finally, Stifel Nicolaus increased their price target on Mallinckrodt from $15.00 to $18.00 and gave the stock a “hold” rating in a report on Monday, June 18th. Three equities research 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 has a consensus rating of “Hold” and a consensus target price of $30.95.

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.

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Earnings History and Estimates for Mallinckrodt (NYSE:MNK)

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