Mallinckrodt PLC (MNK) Releases Earnings Results, Beats Expectations By $0.05 EPS

Mallinckrodt PLC (MNK) announced its most recent quarterly financial results on Tuesday, Nov-29-2016. MNK said it had a profit of $2.04 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $1.99. The company posted revenue of $887.20 million in the period, compared to analysts expectations of $875.68 million. MNK’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.84 EPS.

Many Wall Street Analysts have commented on Mallinckrodt PLC. Shares were Reiterated by Mizuho on Nov 23, 2016 to “Buy” and Lowered the Price Target to $ 87 from a previous price target of $89 .Mallinckrodt PLC was Initiated by Raymond James to “Outperform” on Nov 18, 2016. Shares were Reiterated by Mizuho on Sep 29, 2016 to “Buy” and Lowered the Price Target to $ 89 from a previous price target of $91 .

Mallinckrodt PLC opened for trading at $57.51 and hit $57.6 on the upside on Friday, eventually ending the session at $57.21, with a gain of 0.60% or 0.34 points. The heightened volatility saw the trading volume jump to 8,14,663 shares. Company has a market cap of $6,162 M.

In a different news, on May 11, 2016, Matthew K Harbaugh (CFO) purchased 500 shares at $59.37 per share price. According to the SEC, on May 10, 2016, Hugh M. O’neill (Sr. VP & Pres, ARD) purchased 1,653 shares at $60.99 per share price. On May 9, 2016, Steven J. Romano (Sr. VP & Chief Scientific Ofcr) purchased 900 shares at $56.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Mallinckrodt public limited company (Mallinckrodt) is a global specialty pharmaceuticals company. The Company develops manufactures markets and distributes both branded and generic specialty pharmaceuticals active pharmaceutical ingredients (API) and diagnostic imaging agents. The Company uses its API products in the manufacture of its generic pharmaceuticals and also sells them to other pharmaceutical companies. The Company operates through two segments: Specialty Pharmaceuticals and Global Medical Imaging. The Company’s Specialty Pharmaceuticals segment develops manufactures and sells through its Brands business drugs including EXALGO (hydromorphone HCl) Extended-Release Tablets and GABLOFEN. The Company’s Global Medical Imaging segment develops manufactures and markets contrast media and delivery systems (CMDS). The Company offers INOMAX Total Care (inhaled nitric oxide) a neonatal critical care product.

Mallinckrodt PLC

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