Mallinckrodt PLC (NYSE:MNK) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $7.40-8.00 for the period, compared to the Thomson Reuters consensus estimate of $7.53.

Several equities analysts recently weighed in on the stock. Piper Jaffray Companies set a $85.00 price target on shares of Mallinckrodt PLC and gave the company a buy rating in a research report on Monday. Jefferies Group LLC restated a buy rating and set a $70.00 price target on shares of Mallinckrodt PLC in a research report on Thursday, August 3rd. BMO Capital Markets restated a buy rating and set a $69.00 price target on shares of Mallinckrodt PLC in a research report on Friday, July 28th. Oppenheimer Holdings, Inc. set a $70.00 price target on shares of Mallinckrodt PLC and gave the company a buy rating in a research report on Friday, July 28th. Finally, Zacks Investment Research upgraded shares of Mallinckrodt PLC from a sell rating to a hold rating in a research report on Thursday, July 27th. One equities research 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. The company presently has a consensus rating of Buy and an average price target of $74.09.

Shares of Mallinckrodt PLC (MNK) opened at 37.82 on Tuesday. Mallinckrodt PLC has a one year low of $37.77 and a one year high of $85.83. The stock has a 50 day moving average of $44.74 and a 200-day moving average of $45.97. The stock’s market capitalization is $3.76 billion.

Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $1.85 EPS for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.12. Mallinckrodt PLC had a return on equity of 16.33% and a net margin of 16.01%. The company had revenue of $824.50 million for the quarter, compared to analysts’ expectations of $829.56 million. During the same period in the previous year, the firm earned $2.03 EPS. The firm’s revenue was down 4.9% compared to the same quarter last year. Equities analysts forecast that Mallinckrodt PLC will post $7.52 earnings per share for the current year.

In other Mallinckrodt PLC news, VP Steven J. Romano purchased 1,000 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were bought at an average cost of $39.88 per share, with a total value of $39,880.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Coleman N. Lannum III purchased 1,968 shares of the stock in a transaction that occurred on Friday, May 12th. The stock was acquired at an average cost of $46.20 per share, for a total transaction of $90,921.60. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 5,818 shares of company stock worth $248,608. 0.53% of the stock is owned by insiders.

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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.

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

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