Mallinckrodt PLC (NYSE:MNK) – Investment analysts at Piper Jaffray Companies dropped their Q4 2019 EPS estimates for shares of Mallinckrodt in a report released on Tuesday, November 6th. Piper Jaffray Companies analyst D. Amsellem now forecasts that the company will post earnings per share of $1.76 for the quarter, down from their previous estimate of $2.05. 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 FY2022 earnings at $3.77 EPS.
Other equities research analysts also recently issued research reports about the stock. Cantor Fitzgerald restated a “buy” rating and issued a $42.00 price target on shares of Mallinckrodt in a research report on Tuesday, August 7th. Zacks Investment Research upgraded shares of Mallinckrodt from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Monday, August 27th. Morgan Stanley upped their price target on shares of Mallinckrodt from $14.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, August 17th. Wells Fargo & Co restated a “hold” rating on shares of Mallinckrodt in a research report on Wednesday, August 22nd. Finally, Canaccord Genuity set a $34.00 target price on shares of Mallinckrodt and gave the stock a “hold” rating in a research report on Sunday, August 19th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $32.53.
Mallinckrodt (NYSE:MNK) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $2.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.79 by $0.31. The business had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.38 million. Mallinckrodt had a net margin of 65.24% and a return on equity of 9.60%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.97 EPS.
A number of hedge funds have recently added to or reduced their stakes in the business. Vident Investment Advisory LLC lifted its position in Mallinckrodt by 1.7% in the 2nd quarter. Vident Investment Advisory LLC now owns 166,782 shares of the company’s stock worth $3,112,000 after buying an additional 2,807 shares in the last quarter. United Services Automobile Association increased its stake in shares of Mallinckrodt by 18.4% during the 2nd quarter. United Services Automobile Association now owns 19,432 shares of the company’s stock worth $363,000 after purchasing an additional 3,026 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in shares of Mallinckrodt by 46.7% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 15,238 shares of the company’s stock worth $284,000 after purchasing an additional 4,853 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of Mallinckrodt by 13.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 43,634 shares of the company’s stock worth $1,278,000 after purchasing an additional 5,039 shares during the last quarter. Finally, Guggenheim Capital LLC increased its stake in shares of Mallinckrodt by 17.1% during the 1st quarter. Guggenheim Capital LLC now owns 40,863 shares of the company’s stock worth $592,000 after purchasing an additional 5,958 shares during 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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