FY2021 EPS Estimates for Mallinckrodt PLC (MNK) Cut by Analyst

Mallinckrodt PLC (NYSE:MNK) – Analysts at Leerink Swann dropped their FY2021 earnings estimates for shares of Mallinckrodt in a report issued on Tuesday, November 6th. Leerink Swann analyst A. Fadia now expects that the company will post earnings per share of $3.82 for the year, down from their previous forecast of $3.88. Leerink Swann has a “Market Perform” rating and a $27.00 price objective on the stock.

A number of other equities analysts have also issued reports on MNK. Zacks Investment Research lowered shares of Mallinckrodt from a “buy” rating to a “hold” rating in a research report on Friday, August 24th. Morgan Stanley upped their target price on shares of Mallinckrodt from $14.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, August 17th. SunTrust Banks upped their target price on shares of Mallinckrodt to $32.00 and gave the stock a “positive” rating in a research report on Monday, August 13th. They noted that the move was a valuation call. B. Riley upped their target price on shares of Mallinckrodt from $20.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, August 24th. Finally, Goldman Sachs Group lowered shares of Mallinckrodt from a “neutral” rating to a “sell” rating and upped their target price for the stock from $27.00 to $28.00 in a research report on Tuesday, September 11th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $32.53.

NYSE:MNK traded down $0.84 on Friday, reaching $30.33. The stock had a trading volume of 34,316 shares, compared to its average volume of 1,775,943. The firm has a market cap of $2.47 billion, a PE ratio of 4.07, a price-to-earnings-growth ratio of 0.40 and a beta of 1.71. Mallinckrodt has a 1-year low of $11.65 and a 1-year high of $36.65. The company has a quick ratio of 2.06, a current ratio of 2.21 and a debt-to-equity ratio of 0.93.

Mallinckrodt (NYSE:MNK) last released its quarterly earnings results on Tuesday, November 6th. The company reported $2.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.31. The firm had revenue of $640.00 million for the quarter, compared to analyst estimates of $634.38 million. Mallinckrodt had a net margin of 65.24% and a return on equity of 9.60%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.97 earnings per share.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Mallinckrodt by 19.1% in the second quarter. BlackRock Inc. now owns 9,649,420 shares of the company’s stock valued at $180,057,000 after purchasing an additional 1,546,671 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Mallinckrodt by 8.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,422,787 shares of the company’s stock valued at $82,531,000 after purchasing an additional 345,385 shares in the last quarter. LSV Asset Management increased its stake in Mallinckrodt by 26.2% in the third quarter. LSV Asset Management now owns 3,377,259 shares of the company’s stock valued at $98,987,000 after purchasing an additional 702,105 shares in the last quarter. Miller Value Partners LLC increased its stake in Mallinckrodt by 57.5% in the second quarter. Miller Value Partners LLC now owns 3,338,025 shares of the company’s stock valued at $62,288,000 after purchasing an additional 1,218,750 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in Mallinckrodt by 100.4% in the third quarter. Prudential Financial Inc. now owns 1,943,432 shares of the company’s stock valued at $56,962,000 after purchasing an additional 973,806 shares in the last quarter.

About Mallinckrodt

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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