Piper Jaffray Companies Comments on Mallinckrodt PLC’s FY2018 Earnings (MNK)

Mallinckrodt PLC (NYSE:MNK) – Analysts at Piper Jaffray Companies upped their FY2018 earnings per share estimates for shares of Mallinckrodt in a research report issued on Tuesday, November 6th. Piper Jaffray Companies analyst D. Amsellem now expects that the company will earn $7.04 per share for the year, up from their previous forecast of $6.84. Piper Jaffray Companies has a “Buy” rating and a $39.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Mallinckrodt’s Q4 2018 earnings at $1.86 EPS, Q1 2019 earnings at $1.55 EPS, Q2 2019 earnings at $1.95 EPS, Q3 2019 earnings at $2.02 EPS, FY2019 earnings at $7.27 EPS, FY2020 earnings at $5.84 EPS and FY2021 earnings at $4.43 EPS.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald restated a “buy” rating and issued a $42.00 target price on shares of Mallinckrodt in a report on Tuesday, August 7th. Zacks Investment Research upgraded Mallinckrodt from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Monday, August 27th. Morgan Stanley upped their target price on Mallinckrodt from $14.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, August 17th. Wells Fargo & Co restated a “hold” rating on shares of Mallinckrodt in a report on Wednesday, August 22nd. Finally, Canaccord Genuity set a $34.00 target price on Mallinckrodt and gave the company a “hold” rating in a report on Sunday, August 19th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $32.53.

Shares of NYSE:MNK opened at $31.17 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.21 and a quick ratio of 2.06. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 4.16, a P/E/G ratio of 0.40 and a beta of 1.71. Mallinckrodt has a 52-week low of $11.65 and a 52-week high of $36.65.

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

Several institutional investors have recently made changes to their positions in MNK. Guggenheim Capital LLC lifted its stake in shares of Mallinckrodt by 17.1% in the 1st quarter. Guggenheim Capital LLC now owns 40,863 shares of the company’s stock valued at $592,000 after purchasing an additional 5,958 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Mallinckrodt by 209.3% in the 2nd quarter. Bank of Montreal Can now owns 63,822 shares of the company’s stock valued at $1,189,000 after purchasing an additional 43,190 shares during the last quarter. Jabodon PT Co. lifted its stake in shares of Mallinckrodt by 18.4% in the 2nd quarter. Jabodon PT Co. now owns 263,768 shares of the company’s stock valued at $4,922,000 after purchasing an additional 40,949 shares during the last quarter. James Investment Research Inc. acquired a new position in shares of Mallinckrodt in the 2nd quarter valued at $2,859,000. Finally, Hartford Investment Management Co. acquired a new position in shares of Mallinckrodt in the 2nd quarter valued at $293,000.

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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