Mallinckrodt PLC (MNK) Releases Quarterly Earnings Results, Beats Estimates By $0.33 EPS
Mallinckrodt PLC (NYSE:MNK) posted its quarterly earnings results on Thursday. The company reported $1.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.87 by $0.33, AnalystRatings.NET reports. The company had revenue of $653.10 million for the quarter, compared to the consensus estimate of $278.80 million. During the same quarter last year, the company posted $0.49 earnings per share. Mallinckrodt PLC’s revenue was up 14.6% compared to the same quarter last year. Mallinckrodt PLC updated its FY14 guidance to $4.00-4.30 EPS.
In other Mallinckrodt PLC news, major shareholder Paulson & Co Inc acquired 275,000 shares of the company’s stock on the open market in a transaction dated Friday, August 1st. The shares were purchased at an average price of $69.60 per share, for a total transaction of $19,140,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Mallinckrodt PLC (NYSE:MNK) traded up 2.52% on Thursday, hitting $69.96. 956,874 shares of the company’s stock traded hands. Mallinckrodt PLC has a 1-year low of $41.67 and a 1-year high of $83.20. The stock has a 50-day moving average of $75.50 and a 200-day moving average of $70.20. The company has a market cap of $4.097 billion and a P/E ratio of 63.30.
A number of research firms have recently commented on MNK. Analysts at Bank of America raised their price target on shares of Mallinckrodt PLC to $97.00 in a research note on Tuesday, July 29th. On a related note, analysts at Deutsche Bank initiated coverage on shares of Mallinckrodt PLC in a research note on Tuesday, July 22nd. They set a “buy” rating and a $96.00 price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Mallinckrodt PLC from $85.00 to $95.00 in a research note on Monday, July 21st. They now have a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $86.36.
Mallinckrodt public limited company (NYSE:MNK) is a global specialty pharmaceuticals company.
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