Revenue Update on Mallinckrodt PLC(NYSE:MNK)

Mallinckrodt PLC(NYSE:MNK) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-market on Nov 29, 2016. Company reported revenue of $887.20M. Analysts estimated a revenue of $880.10M. The revenues were $7.10M or 0.81% above the estimates. Earnings per share were $2.04. The reported EPS was above estimates by $0.05 or 2.51%. Analysts had estimated an EPS of $1.99.

Mallinckrodt PLC (MNK) shares turned negative on Tuesdays trading session with the shares closing down -5.25 points or -9.10% at a volume of 87,71,613. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $57.16. The peak price level was also seen at $57.16 while the days lowest was $51.55. Finally the shares closed at $52.42. The 52-week high of the shares is $85.83 while the 52-week low is $50.9. According to the latest information available, the market cap of the company is $5,646 M.

Several Insider Transactions has been reported to the SEC. On May 11, 2016, Matthew K Harbaugh (CFO) purchased 500 shares at $59.37 per share price.Also, 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.

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