Lingohr & Partner Asset Management GmbH purchased a new position in Mallinckrodt PLC (NYSE:MNK) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 13,300 shares of the company’s stock, valued at approximately $593,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Profund Advisors LLC grew its holdings in Mallinckrodt PLC by 3.6% during the 1st quarter. Profund Advisors LLC now owns 6,399 shares of the company’s stock valued at $285,000 after buying an additional 220 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Mallinckrodt PLC by 10.8% during the 1st quarter. Russell Investments Group Ltd. now owns 142,217 shares of the company’s stock valued at $6,340,000 after buying an additional 13,873 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Mallinckrodt PLC by 9.7% during the 1st quarter. Wells Fargo & Company MN now owns 164,309 shares of the company’s stock valued at $7,322,000 after buying an additional 14,485 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in Mallinckrodt PLC by 6.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 84,605 shares of the company’s stock valued at $3,767,000 after buying an additional 4,777 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Mallinckrodt PLC by 40.6% during the 1st quarter. American Century Companies Inc. now owns 11,200 shares of the company’s stock valued at $499,000 after buying an additional 3,233 shares during the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.
Shares of Mallinckrodt PLC (MNK) traded down 2.67% on Friday, hitting $34.27. The company had a trading volume of 2,631,510 shares. The company has a 50 day moving average of $38.33 and a 200-day moving average of $43.27. The company’s market cap is $3.33 billion. Mallinckrodt PLC has a 12-month low of $34.17 and a 12-month high of $77.25.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.12. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. The firm had revenue of $824.50 million for the quarter, compared to analysts’ expectations of $829.56 million. During the same period in the previous year, the company posted $2.03 EPS. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, analysts forecast that Mallinckrodt PLC will post $7.43 earnings per share for the current year.
In related news, insider Meredith B. Fischer purchased 1,280 shares of the stock in a transaction dated Wednesday, August 30th. The shares were acquired at an average cost of $39.63 per share, for a total transaction of $50,726.40. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.77% of the company’s stock.
MNK has been the topic of a number of analyst reports. Zacks Investment Research cut Mallinckrodt PLC from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Wells Fargo & Company reiterated an “outperform” rating and set a $83.50 target price on shares of Mallinckrodt PLC in a report on Wednesday, June 21st. Jefferies Group LLC lowered their target price on Mallinckrodt PLC from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, August 25th. UBS AG reiterated a “buy” rating and set a $70.00 target price on shares of Mallinckrodt PLC in a report on Wednesday, September 6th. Finally, ValuEngine cut Mallinckrodt PLC from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $64.15.
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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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