NEW YORK (TheStreet) -- Mallinckrodt (MNK) was gaining 3.5% to $73.35 Friday after beating analysts’ estimates for earnings and revenue in the fiscal third quarter and news that it will join the S&P 500.
The company reported earnings of $1.20 a share for the third company, beating the Capital IQ Consensus Estimate of 85 cents a share by 35 cents. Revenue grew 14.6% from the year-ago quarter to $653.1 million. Analysts expected revenue of $278.8 million for the quarter.
Mallinckrodt, currently a member of the S&P MidCap 400, announced that it will join the S&P 500 after the close of trading on August 18.
Must Read: 3D Printing Companies for Your Stock Portfolio
TheStreet Ratings team rates MALLINCKRODT PLC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate MALLINCKRODT PLC (MNK) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been very high debt management risk by most measures."
- You can view the full analysis from the report here: MNK Ratings Report
