Mallinckrodt PLC (MNK) Updates FY17 Earnings Guidance
Mallinckrodt PLC (NYSE:MNK) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $7.40-8.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $7.53.
Shares of Mallinckrodt PLC (NYSE MNK) traded down 0.4009% on Wednesday, hitting $38.0369. 829,209 shares of the stock traded hands. The stock’s 50 day moving average price is $44.71 and its 200 day moving average price is $45.89. The stock’s market cap is $3.78 billion. Mallinckrodt PLC has a 52-week low of $37.04 and a 52-week high of $85.83.
Mallinckrodt PLC (NYSE:MNK) last released its earnings results on Tuesday, August 8th. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. The company had revenue of $824.50 million during the quarter, compared to analysts’ expectations of $829.56 million. Mallinckrodt PLC had a net margin of 16.01% and a return on equity of 16.33%. Mallinckrodt PLC’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period last year, the business earned $2.03 EPS. On average, equities analysts expect that Mallinckrodt PLC will post $7.51 EPS for the current fiscal year.
A number of research firms recently commented on MNK. UBS AG set a $70.00 target price on shares of Mallinckrodt PLC and gave the stock a buy rating in a research note on Wednesday. Canaccord Genuity set a $87.00 target price on shares of Mallinckrodt PLC and gave the stock a buy rating in a research note on Tuesday. Oppenheimer Holdings, Inc. set a $70.00 target price on shares of Mallinckrodt PLC and gave the stock a buy rating in a research note on Tuesday. BidaskClub cut shares of Mallinckrodt PLC from a hold rating to a sell rating in a research note on Tuesday. Finally, Piper Jaffray Companies set a $85.00 target price on shares of Mallinckrodt PLC and gave the stock a buy rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company. The company has an average rating of Buy and an average price target of $74.09.
In other news, VP Coleman N. Lannum III bought 1,350 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was purchased at an average cost of $42.89 per share, for a total transaction of $57,901.50. Following the purchase, the vice president now directly owns 30,955 shares in the company, valued at approximately $1,327,659.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Coleman N. Lannum III bought 1,968 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was purchased at an average price of $46.20 per share, with a total value of $90,921.60. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 5,818 shares of company stock valued at $248,608. Company insiders own 0.53% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This story was first posted by Daily Political and is the property of of Daily Political. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright law. The legal version of this story can be accessed at https://www.dailypolitical.com/2017/08/09/mallinckrodt-plc-mnk-updates-fy17-earnings-guidance.html.
Mallinckrodt PLC Company Profile
Mallinckrodt public limited company develops, manufactures, markets and distributes branded and generic specialty pharmaceutical products and therapies. The Company focuses on various therapeutic areas, such as autoimmune and rare disease specialty areas, including neurology, rheumatology, nephrology, ophthalmology and pulmonology; immunotherapy and neonatal critical care respiratory therapies; analgesics and hemostasis products, and central nervous system drugs.
Receive News & Ratings for Mallinckrodt PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mallinckrodt PLC and related companies with MarketBeat.com's FREE daily email newsletter.