Mallinckrodt PLC (NYSE:MNK) – SVB Leerink cut their FY2020 EPS estimates for shares of Mallinckrodt in a research report issued on Monday, September 14th. SVB Leerink analyst A. Fadia now forecasts that the company will post earnings of $6.32 per share for the year, down from their previous estimate of $6.36. SVB Leerink currently has a “Market Perform” rating and a $1.50 target price on the stock. SVB Leerink also issued estimates for Mallinckrodt’s FY2021 earnings at $2.87 EPS, FY2022 earnings at $1.62 EPS and FY2023 earnings at $1.51 EPS.
Mallinckrodt (NYSE:MNK) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.34 by $0.55. The company had revenue of $700.90 million for the quarter, compared to the consensus estimate of $630.19 million. Mallinckrodt had a negative net margin of 89.94% and a positive return on equity of 34.26%. The firm’s revenue was down 14.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.53 EPS.
Several other equities research analysts have also recently issued reports on MNK. ValuEngine raised shares of Mallinckrodt from a “sell” rating to a “hold” rating in a research report on Tuesday, September 1st. Barclays reissued a “hold” rating on shares of Mallinckrodt in a research report on Wednesday, August 5th. Raymond James reissued a “hold” rating on shares of Mallinckrodt in a research report on Tuesday. BMO Capital Markets lowered their price objective on shares of Mallinckrodt from $4.00 to $2.00 and set a “market perform” rating for the company in a research report on Wednesday, August 5th. Finally, Piper Sandler cut shares of Mallinckrodt from a “neutral” rating to an “underweight” rating in a research report on Tuesday, August 4th. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The company has an average rating of “Hold” and a consensus target price of $2.70.
Shares of NYSE:MNK opened at $1.13 on Wednesday. The company has a market capitalization of $95.59 million, a price-to-earnings ratio of -0.04, a PEG ratio of 0.01 and a beta of 3.00. Mallinckrodt has a 12 month low of $1.00 and a 12 month high of $6.42. The firm’s 50-day moving average is $1.59 and its 200 day moving average is $2.52. The company has a current ratio of 1.48, a quick ratio of 1.23 and a debt-to-equity ratio of 5.39.
Several institutional investors and hedge funds have recently made changes to their positions in MNK. Amundi Pioneer Asset Management Inc. lifted its position in shares of Mallinckrodt by 126.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 40,149 shares of the company’s stock worth $873,000 after purchasing an additional 22,417 shares during the period. BlackRock Inc. lifted its position in shares of Mallinckrodt by 3.9% in the 1st quarter. BlackRock Inc. now owns 6,385,050 shares of the company’s stock worth $12,642,000 after purchasing an additional 240,759 shares during the period. SG Americas Securities LLC lifted its position in shares of Mallinckrodt by 67.5% in the 1st quarter. SG Americas Securities LLC now owns 258,768 shares of the company’s stock worth $512,000 after purchasing an additional 104,271 shares during the period. Aperio Group LLC lifted its position in shares of Mallinckrodt by 23.1% in the 1st quarter. Aperio Group LLC now owns 33,760 shares of the company’s stock worth $66,000 after purchasing an additional 6,338 shares during the period. Finally, Rhumbline Advisers lifted its position in shares of Mallinckrodt by 14.6% in the 1st quarter. Rhumbline Advisers now owns 170,011 shares of the company’s stock worth $337,000 after purchasing an additional 21,630 shares during the period. 61.67% of the stock is owned by hedge funds and other institutional investors.
Mallinckrodt Company Profile
Mallinckrodt plc, together with its subsidiaries, develops, manufactures, markets, and distributes specialty pharmaceutical products and therapies in the United States, Europe, the Middle East, Africa, and internationally. It operates in two segments, Specialty Brands, and Specialty Generics and Amitiza.
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