Mallinckrodt PLC (NYSE:MNK) – Equities researchers at Oppenheimer Holdings lifted their FY2018 earnings estimates for Mallinckrodt PLC in a report released on Monday. Oppenheimer Holdings analyst D. Archila now expects that the company will post earnings per share of $8.34 for the year, up from their previous forecast of $8.32. Oppenheimer Holdings also issued estimates for Mallinckrodt PLC’s FY2019 earnings at $8.76 EPS, FY2020 earnings at $9.12 EPS and FY2021 earnings at $7.71 EPS.

A number of other research firms have also recently commented on MNK. Deutsche Bank AG set a $56.00 target price on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Jefferies Group LLC reissued a “buy” rating and set a $60.00 target price on shares of Mallinckrodt PLC in a research report on Friday, October 6th. Piper Jaffray Companies set a $85.00 price target on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research note on Monday, August 7th. UBS AG set a $70.00 price target on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research note on Friday, October 6th. Finally, Raymond James Financial, Inc. dropped their price target on shares of Mallinckrodt PLC from $65.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $60.04.

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Shares of Mallinckrodt PLC (NYSE MNK) traded down 2.21% during midday trading on Thursday, hitting $34.90. 567,845 shares of the company’s stock were exchanged. The stock’s market cap is $3.39 billion. Mallinckrodt PLC has a 1-year low of $33.61 and a 1-year high of $68.43. The stock’s 50 day moving average is $36.53 and its 200-day moving average is $41.60.

Mallinckrodt PLC (NYSE:MNK) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $1.85 EPS for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.12. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. The company had revenue of $824.50 million for the quarter, compared to the consensus estimate of $829.56 million. During the same period in the prior year, the firm posted $2.03 EPS. The company’s quarterly revenue was down 4.9% compared to the same quarter last year.

In other Mallinckrodt PLC news, insider Meredith B. Fischer bought 1,280 shares of the stock in a transaction on Wednesday, August 30th. The stock was purchased at an average price of $39.63 per share, for a total transaction of $50,726.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.77% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. acquired a new position in shares of Mallinckrodt PLC during the first quarter valued at $115,000. Stifel Financial Corp boosted its holdings in shares of Mallinckrodt PLC by 16.0% during the first quarter. Stifel Financial Corp now owns 31,040 shares of the company’s stock valued at $1,369,000 after acquiring an additional 4,286 shares during the period. OppenheimerFunds Inc. boosted its holdings in shares of Mallinckrodt PLC by 23.1% during the first quarter. OppenheimerFunds Inc. now owns 8,887 shares of the company’s stock valued at $396,000 after acquiring an additional 1,666 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Mallinckrodt PLC by 0.4% during the first quarter. Principal Financial Group Inc. now owns 164,395 shares of the company’s stock valued at $7,328,000 after acquiring an additional 699 shares during the period. Finally, Wellington Management Group LLP acquired a new position in shares of Mallinckrodt PLC during the first quarter valued at $373,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Mallinckrodt PLC 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.

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

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