Oppenheimer Holdings Comments on Mallinckrodt PLC’s FY2018 Earnings (MNK)

Mallinckrodt PLC (NYSE:MNK) – Investment analysts at Oppenheimer Holdings lifted their FY2018 earnings per share (EPS) estimates for Mallinckrodt PLC in a research report issued on Monday. Oppenheimer Holdings analyst D. Archila now anticipates that the company will post earnings per share of $8.34 for the year, up from their prior forecast of $8.32. Oppenheimer Holdings also issued estimates for Mallinckrodt PLC’s FY2019 earnings at $8.76 EPS, FY2020 earnings at $9.12 EPS and FY2021 earnings at $7.71 EPS.

A number of other research analysts have also issued reports on MNK. Cantor Fitzgerald started coverage on Mallinckrodt PLC in a research report on Friday, June 16th. They set an “overweight” rating and a $52.00 price target for the company. Jefferies Group LLC reiterated a “buy” rating and set a $70.00 price target on shares of Mallinckrodt PLC in a research report on Tuesday, June 20th. Wells Fargo & Company reiterated an “outperform” rating and set a $83.50 price target on shares of Mallinckrodt PLC in a research report on Wednesday, June 21st. UBS AG reiterated a “buy” rating and set a $70.00 price target (down previously from $100.00) on shares of Mallinckrodt PLC in a research report on Thursday, June 29th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered Mallinckrodt PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $60.04.

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Mallinckrodt PLC (NYSE:MNK) last released its quarterly earnings data on Tuesday, August 8th. The company reported $1.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.12. The firm had revenue of $824.50 million during the quarter, compared to analysts’ expectations 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 in the prior year, the business posted $2.03 earnings per share.

Large investors have recently bought and sold shares of the company. Denali Advisors LLC bought a new position in shares of Mallinckrodt PLC in the 2nd quarter worth $112,000. Ameritas Investment Partners Inc. bought a new position in shares of Mallinckrodt PLC in the 1st quarter worth $115,000. Sterling Capital Management LLC bought a new position in shares of Mallinckrodt PLC in the 2nd quarter worth $204,000. Baker Avenue Asset Management LP bought a new position in shares of Mallinckrodt PLC in the 1st quarter worth $223,000. Finally, Advisor Partners LLC bought a new position in shares of Mallinckrodt PLC in the 2nd quarter worth $242,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

In related news, insider Meredith B. Fischer purchased 1,280 shares of Mallinckrodt PLC stock in a transaction dated Wednesday, August 30th. The shares were acquired at an average cost of $39.63 per share, for a total transaction of $50,726.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.77% of the stock is owned by company insiders.

Mallinckrodt PLC 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.

Earnings History and Estimates for Mallinckrodt PLC (NYSE:MNK)

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