PGGM Investments reduced its position in Mallinckrodt PLC (NYSE:MNK) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,642 shares of the company’s stock after selling 77 shares during the period. PGGM Investments owned approximately 0.07% of Mallinckrodt PLC worth $3,165,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc increased its position in shares of Mallinckrodt PLC by 324.6% in the first quarter. IFP Advisors Inc now owns 2,518 shares of the company’s stock worth $112,000 after buying an additional 1,925 shares during the period. Denali Advisors LLC purchased a new position in shares of Mallinckrodt PLC during the second quarter worth $112,000. Ameritas Investment Partners Inc. purchased a new position in shares of Mallinckrodt PLC during the first quarter worth $115,000. Daiwa Securities Group Inc. increased its position in shares of 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 buying an additional 500 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Mallinckrodt PLC by 335.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,373 shares of the company’s stock worth $150,000 after buying an additional 2,599 shares during the period. Institutional investors and hedge funds own 94.65% of the company’s stock.
Shares of Mallinckrodt PLC (MNK) opened at 36.39 on Friday. The firm’s market capitalization is $3.54 billion. The firm’s 50-day moving average is $42.53 and its 200-day moving average is $45.18. Mallinckrodt PLC has a 12-month low of $35.04 and a 12-month high of $85.83.
Mallinckrodt PLC (NYSE:MNK) last released its quarterly earnings results on Tuesday, August 8th. The company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.73 by $0.12. The business had revenue of $824.50 million during the quarter, compared to analyst estimates of $829.56 million. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. The company’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.03 earnings per share. Equities research analysts forecast that Mallinckrodt PLC will post $7.46 EPS for the current fiscal year.
A number of analysts have recently commented on MNK shares. Jefferies Group LLC reissued a “buy” rating and set a $70.00 target price on shares of Mallinckrodt PLC in a research note on Tuesday, June 20th. Morgan Stanley set a $65.00 target price on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research note on Wednesday, May 31st. Deutsche Bank AG set a $68.00 target price on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research note on Wednesday, May 31st. Mizuho reissued a “buy” rating and set a $73.00 target price on shares of Mallinckrodt PLC in a research note on Wednesday, May 31st. Finally, UBS AG set a $70.00 target price on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research note on Wednesday, May 24th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $71.25.
In other news, VP Coleman N. Lannum III purchased 1,350 shares of the stock in a transaction dated Friday, June 2nd. The stock was acquired at an average price of $42.89 per share, for a total transaction of $57,901.50. Following the completion of the transaction, the vice president now owns 30,955 shares of the company’s stock, valued at $1,327,659.95. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Steven J. Romano bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The stock was bought at an average price of $39.88 per share, with a total value of $39,880.00. The disclosure for this purchase can be found here. Insiders have bought 3,850 shares of company stock valued at $157,687 in the last 90 days. Insiders own 0.77% of the company’s stock.
Mallinckrodt PLC Company 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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