Mallinckrodt PLC (NYSE:MNK) – Analysts at Jefferies Financial Group dropped their FY2021 earnings estimates for Mallinckrodt in a report released on Tuesday, November 6th. Jefferies Financial Group analyst A. Petrone now anticipates that the company will post earnings of $8.04 per share for the year, down from their previous forecast of $9.00.
Mallinckrodt (NYSE:MNK) last issued its quarterly earnings data on Tuesday, November 6th. The company reported $2.10 EPS for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.31. The firm had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.38 million. Mallinckrodt had a return on equity of 9.60% and a net margin of 65.24%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.97 EPS.
A number of other brokerages also recently commented on MNK. Zacks Investment Research downgraded Mallinckrodt from a “buy” rating to a “hold” rating in a research note on Friday, August 24th. Leerink Swann upped their price objective on Mallinckrodt from $12.00 to $27.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 8th. Morgan Stanley upped their price objective on Mallinckrodt from $14.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, August 17th. SunTrust Banks upped their price objective on Mallinckrodt to $32.00 and gave the stock a “positive” rating in a research note on Monday, August 13th. They noted that the move was a valuation call. Finally, B. Riley upped their price objective on Mallinckrodt from $20.00 to $37.00 and gave the stock a “neutral” rating in a research note on Friday, August 24th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $32.53.
Shares of MNK opened at $30.89 on Friday. The firm has a market cap of $2.56 billion, a P/E ratio of 4.12, a P/E/G ratio of 0.42 and a beta of 1.71. 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 has a 12 month low of $11.65 and a 12 month high of $36.65.
Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its position in Mallinckrodt by 3.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,093,463 shares of the company’s stock worth $20,404,000 after acquiring an additional 32,427 shares during the period. Fox Run Management L.L.C. acquired a new position in Mallinckrodt during the 3rd quarter worth $586,000. Dorsey Wright & Associates acquired a new position in Mallinckrodt during the 3rd quarter worth $1,558,000. Chicago Equity Partners LLC acquired a new position in Mallinckrodt during the 2nd quarter worth $575,000. Finally, Janus Henderson Group PLC acquired a new position in Mallinckrodt during the 2nd quarter worth $237,000.
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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