Mallinckrodt PLC (MNK) Issues Quarterly Earnings Results
Mallinckrodt PLC (NYSE:MNK) released its quarterly earnings results on Tuesday. The company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.03. The firm had revenue of $887.20 million for the quarter. Mallinckrodt PLC had a return on equity of 17.78% and a net margin of 16.39%.
Mallinckrodt PLC (NYSE:MNK) opened at 57.67 on Tuesday. The firm’s 50-day moving average price is $61.54 and its 200 day moving average price is $66.60. The stock has a market cap of $6.21 billion, a P/E ratio of 10.87 and a beta of 1.62. Mallinckrodt PLC has a 52-week low of $50.90 and a 52-week high of $85.83.
MNK has been the subject of a number of recent research reports. Wells Fargo & Co. reaffirmed an “outperform” rating and set a $83.50 price objective (down from $88.50) on shares of Mallinckrodt PLC in a research report on Friday, October 21st. Zacks Investment Research raised Mallinckrodt PLC from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research report on Tuesday, August 30th. Piper Jaffray Cos. increased their price objective on Mallinckrodt PLC from $103.00 to $112.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 24th. Barclays PLC reaffirmed an “overweight” rating and set a $88.00 price objective on shares of Mallinckrodt PLC in a research report on Thursday, August 25th. Finally, Guggenheim reaffirmed a “buy” rating and set a $98.00 price objective on shares of Mallinckrodt PLC in a research report on Wednesday, August 3rd. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Mallinckrodt PLC has a consensus rating of “Buy” and a consensus target price of $89.44.
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Institutional investors have recently modified their holdings of the company. Laurel Wealth Advisors Inc. raised its position in shares of Mallinckrodt PLC by 0.5% in the second quarter. Laurel Wealth Advisors Inc. now owns 3,427 shares of the company’s stock worth $208,000 after buying an additional 16 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Mallinckrodt PLC by 2.1% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,655 shares of the company’s stock worth $1,256,000 after buying an additional 428 shares during the period. Sei Investments Co. raised its position in shares of Mallinckrodt PLC by 5.3% in the second quarter. Sei Investments Co. now owns 16,092 shares of the company’s stock worth $978,000 after buying an additional 811 shares during the period. BlackRock Investment Management LLC raised its position in shares of Mallinckrodt PLC by 0.4% in the second quarter. BlackRock Investment Management LLC now owns 275,329 shares of the company’s stock worth $16,734,000 after buying an additional 1,213 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Mallinckrodt PLC by 1.0% in the second quarter. Rhumbline Advisers now owns 196,554 shares of the company’s stock worth $11,947,000 after buying an additional 1,941 shares during the period. 86.51% of the stock is owned by institutional investors and hedge funds.
Mallinckrodt PLC Company Profile
Mallinckrodt public limited company (Mallinckrodt) is engaged in the specialty pharmaceuticals and nuclear imaging business. The Company develops, manufactures, markets and distributes specialty pharmaceutical and biopharmaceutical products, and nuclear imaging agents. The Company’s segments include Specialty Brands, Specialty Generics and Nuclear Imaging.
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