BT Investment Management Ltd purchased a new position in shares of Mallinckrodt PLC (NYSE:MNK) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 173,132 shares of the company’s stock, valued at approximately $7,758,000. BT Investment Management Ltd owned about 0.17% of Mallinckrodt PLC at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in MNK. Meeder Asset Management Inc. raised its position in Mallinckrodt PLC by 1.3% in the second quarter. Meeder Asset Management Inc. now owns 15,900 shares of the company’s stock worth $712,000 after acquiring an additional 209 shares in the last quarter. Profund Advisors LLC raised its position in Mallinckrodt PLC by 3.6% in the first quarter. Profund Advisors LLC now owns 6,399 shares of the company’s stock worth $285,000 after acquiring an additional 220 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in Mallinckrodt PLC by 4.6% in the second quarter. Xact Kapitalforvaltning AB now owns 8,525 shares of the company’s stock worth $382,000 after acquiring an additional 374 shares in the last quarter. Amalgamated Bank raised its position in Mallinckrodt PLC by 6.2% in the first quarter. Amalgamated Bank now owns 7,625 shares of the company’s stock worth $340,000 after acquiring an additional 447 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Mallinckrodt PLC by 18.5% in the first quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the company’s stock worth $143,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.
MNK has been the subject of several research analyst reports. Canaccord Genuity set a $87.00 price objective on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Monday, July 17th. UBS AG reiterated a “buy” rating and issued a $70.00 price objective (down previously from $100.00) on shares of Mallinckrodt PLC in a research report on Thursday, June 29th. They noted that the move was a valuation call. Morgan Stanley set a $65.00 price objective on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Deutsche Bank AG set a $68.00 price objective on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Finally, Mizuho reiterated a “buy” rating and issued a $73.00 price objective on shares of Mallinckrodt PLC in a research report on Wednesday, May 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $64.15.
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In related news, insider Meredith B. Fischer acquired 1,280 shares of the stock in a transaction dated Wednesday, August 30th. The stock was acquired at an average cost of $39.63 per share, with a total value of $50,726.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.77% of the company’s stock.
Mallinckrodt PLC (MNK) traded down 2.67% during mid-day trading on Friday, hitting $34.27. The company had a trading volume of 2,631,510 shares. The company’s 50 day moving average price is $38.33 and its 200-day moving average price is $43.27. The company’s market cap is $3.33 billion. Mallinckrodt PLC has a one year low of $34.17 and a one year high of $77.25.
Mallinckrodt PLC (NYSE:MNK) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $1.85 EPS for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.12. Mallinckrodt PLC had a return on equity of 15.28% and a net margin of 12.64%. The business had revenue of $824.50 million during the quarter, compared to the consensus estimate of $829.56 million. During the same period in the previous year, the company posted $2.03 earnings per share. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. Equities research analysts anticipate that Mallinckrodt PLC will post $7.43 EPS for the current fiscal year.
Mallinckrodt PLC 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.
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