Wall Street brokerages expect that Mallinckrodt PLC (NYSE:MNK) will report sales of $827.35 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Mallinckrodt PLC’s earnings, with the lowest sales estimate coming in at $806.40 million and the highest estimate coming in at $844.00 million. Mallinckrodt PLC posted sales of $970.60 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 14.8%. The firm is scheduled to report its next quarterly earnings results before the market opens on Tuesday, August 8th.

According to Zacks, analysts expect that Mallinckrodt PLC will report full year sales of $827.35 million for the current year, with estimates ranging from $3.27 billion to $3.37 billion. For the next year, analysts forecast that the firm will report sales of $3.37 billion per share, with estimates ranging from $3.30 billion to $3.42 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Mallinckrodt PLC.

Mallinckrodt PLC (NYSE:MNK) last announced its earnings results on Monday, May 8th. The company reported $1.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.05. The company had revenue of $810.90 million for the quarter, compared to analyst estimates of $781.23 million. Mallinckrodt PLC had a return on equity of 16.33% and a net margin of 16.01%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $2.01 earnings per share.

Several equities analysts recently commented on MNK shares. Jefferies Group LLC reiterated a “buy” rating and issued a $70.00 price objective on shares of Mallinckrodt PLC in a research note on Friday, April 21st. Oppenheimer Holdings, Inc. set a $70.00 price objective on Mallinckrodt PLC and gave the company a “buy” rating in a research note on Friday, July 28th. Mizuho reiterated a “buy” rating and issued a $73.00 price objective on shares of Mallinckrodt PLC in a research note on Wednesday, May 31st. Deutsche Bank AG set a $68.00 price objective on Mallinckrodt PLC and gave the company a “buy” rating in a research note on Wednesday, May 31st. Finally, UBS AG set a $70.00 price objective on Mallinckrodt PLC and gave the company a “buy” rating in a research note on Wednesday, May 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the stock. Mallinckrodt PLC currently has a consensus rating of “Buy” and an average price target of $74.09.

Mallinckrodt PLC (MNK) opened at 41.02 on Monday. The company’s market cap is $4.08 billion. Mallinckrodt PLC has a 52 week low of $38.80 and a 52 week high of $85.83. The stock’s 50 day moving average price is $44.74 and its 200-day moving average price is $45.97.

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In related news, VP Steven J. Romano bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was bought at an average cost of $39.88 per share, for a total transaction of $39,880.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Coleman N. Lannum III bought 1,968 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was bought 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. Insiders purchased 5,818 shares of company stock valued at $248,608 over the last quarter. 0.77% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MNK. IFP Advisors Inc raised its position in shares of Mallinckrodt PLC by 324.6% in the first quarter. IFP Advisors Inc now owns 2,518 shares of the company’s stock valued at $112,000 after buying an additional 1,925 shares during the period. Denali Advisors LLC bought a new position in shares of Mallinckrodt PLC during the second quarter valued at about $112,000. Ameritas Investment Partners Inc. bought a new position in shares of Mallinckrodt PLC during the first quarter valued at about $115,000. Daiwa Securities Group Inc. raised its position in shares of Mallinckrodt PLC by 18.5% in the first quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the company’s stock valued at $143,000 after buying an additional 500 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its position in shares of Mallinckrodt PLC by 335.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,373 shares of the company’s stock valued at $150,000 after buying an additional 2,599 shares during the period. Institutional investors own 95.76% of the company’s stock.

About Mallinckrodt PLC

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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Earnings History and Estimates for Mallinckrodt PLC (NYSE:MNK)

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