Q1 2018 EPS Estimates for Mallinckrodt PLC Decreased by Oppenheimer (MNK)
Mallinckrodt PLC (NYSE:MNK) – Analysts at Oppenheimer reduced their Q1 2018 earnings estimates for Mallinckrodt in a research note issued to investors on Tuesday. Oppenheimer analyst D. Archila now expects that the company will earn $1.08 per share for the quarter, down from their prior estimate of $1.47. Oppenheimer currently has a “Hold” rating on the stock. Oppenheimer also issued estimates for Mallinckrodt’s Q3 2018 earnings at $1.73 EPS, Q4 2018 earnings at $1.92 EPS, FY2018 earnings at $6.33 EPS, FY2019 earnings at $7.23 EPS, FY2020 earnings at $8.20 EPS, FY2021 earnings at $6.76 EPS and FY2022 earnings at $6.82 EPS.
Other equities analysts have also issued reports about the company. Barclays lowered Mallinckrodt from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $23.00 to $20.00 in a research report on Friday, February 2nd. Canaccord Genuity set a $24.00 price target on Mallinckrodt and gave the stock a “hold” rating in a research report on Tuesday, November 14th. Cantor Fitzgerald set a $42.00 price target on Mallinckrodt and gave the stock a “buy” rating in a research report on Tuesday, December 26th. Wells Fargo & Co restated a “hold” rating on shares of Mallinckrodt in a research report on Monday, January 1st. Finally, ValuEngine lowered Mallinckrodt from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $42.64.
Mallinckrodt (NYSE:MNK) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.29. Mallinckrodt had a return on equity of 13.43% and a net margin of 66.25%. The business had revenue of $792.30 million for the quarter, compared to analyst estimates of $769.91 million. During the same period last year, the company earned $1.91 EPS. Mallinckrodt’s revenue for the quarter was down 4.5% compared to the same quarter last year.
Several hedge funds have recently modified their holdings of MNK. State Treasurer State of Michigan grew its position in shares of Mallinckrodt by 11.9% in the 3rd quarter. State Treasurer State of Michigan now owns 36,500 shares of the company’s stock worth $1,364,000 after buying an additional 3,888 shares during the last quarter. Nationwide Fund Advisors grew its position in shares of Mallinckrodt by 292.1% in the 3rd quarter. Nationwide Fund Advisors now owns 185,877 shares of the company’s stock worth $6,946,000 after buying an additional 138,472 shares during the last quarter. First Trust Advisors LP grew its position in shares of Mallinckrodt by 33.6% in the 3rd quarter. First Trust Advisors LP now owns 525,045 shares of the company’s stock worth $19,621,000 after buying an additional 132,000 shares during the last quarter. Aperio Group LLC grew its position in shares of Mallinckrodt by 35.5% in the 3rd quarter. Aperio Group LLC now owns 58,362 shares of the company’s stock worth $2,181,000 after buying an additional 15,301 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Mallinckrodt in the 3rd quarter worth approximately $666,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.
Mallinckrodt 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.
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