Mallinckrodt (MNK) Warns of Chapter 11 Filing
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Mallinckrodt plc (MNK) PT Lowered to $2 at BMO Capital
August 4, 2020 12:50 PM EDTBMO Capital analyst Gary Nachman lowered the price target on Mallinckrodt plc (NYSE: MNK) to $2.00 (from $4.00) while maintaining a Market Perform rating.
The analyst commented, "2Q results overall were better than previously lowered expectations given COVID-19 and other pressures, but focus... More
Mallinckrodt (MNK) Tops Q2 EPS by 54c, Revenues Beat
August 4, 2020 6:09 AM EDTMallinckrodt (NYSE: MNK) reported Q2 EPS of $1.89, $0.54 better than the analyst estimate of $1.35. Revenue for the quarter came in at $700.9 million versus the consensus estimate of $635.33 million.
Second quarter net sales of $166.5 million net of the retrospective one-time Acthar® Gel Medicaid liability; adjusted net sales of $700.9 million, a decline of 14.9%, due primarily to demand impacts related to COVID-19 and competitive and payer pressures on certain productsDiluted loss per share of $11.04 with adjusted diluted earnings per share (EPS) of $1.89, a decline of 25.3%Operating cash flows of $170.9 million in the... More