Legal & General Group Plc Purchases Shares of 528,663 Mallinckrodt PLC (MNK)
Legal & General Group Plc purchased a new position in Mallinckrodt PLC (NYSE:MNK) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 528,663 shares of the company’s stock, valued at approximately $23,565,000. Legal & General Group Plc owned approximately 0.50% of Mallinckrodt PLC as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in MNK. IFP Advisors Inc raised its stake in 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 in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Mallinckrodt PLC during the first quarter worth approximately $115,000. Focused Wealth Management Inc raised its stake in Mallinckrodt PLC by 19.7% in the fourth quarter. Focused Wealth Management Inc now owns 2,426 shares of the company’s stock worth $121,000 after buying an additional 400 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Mallinckrodt PLC by 2.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,834 shares of the company’s stock worth $143,000 after buying an additional 78 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake 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 buying an additional 500 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors.
Shares of Mallinckrodt PLC (MNK) traded down 0.57% on Friday, hitting $41.70. The stock had a trading volume of 2,292,257 shares. Mallinckrodt PLC has a 52 week low of $38.80 and a 52 week high of $85.83. The company has a 50-day moving average of $43.16 and a 200 day moving average of $47.66. The company’s market capitalization is $4.14 billion.
Mallinckrodt PLC (NYSE:MNK) last issued its quarterly earnings results on Monday, May 8th. The company reported $1.68 EPS for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.05. The company had revenue of $810.90 million during the quarter, compared to the consensus estimate of $781.23 million. Mallinckrodt PLC had a return on equity of 16.33% and a net margin of 16.01%. Mallinckrodt PLC’s revenue was down .6% on a year-over-year basis. During the same period last year, the business posted $2.01 earnings per share. On average, equities research analysts predict that Mallinckrodt PLC will post $7.55 EPS for the current year.
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A number of equities research analysts have recently commented on MNK shares. Canaccord Genuity dropped their price target on Mallinckrodt PLC from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, May 9th. Jefferies Group LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Mallinckrodt PLC in a research report on Friday, April 21st. Guggenheim set a $98.00 price target on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Saturday, April 1st. Morgan Stanley set a $65.00 price target on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Finally, Deutsche Bank AG set a $68.00 price target on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Wednesday, May 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $74.31.
In other news, VP Coleman N. Lannum III acquired 1,350 shares of Mallinckrodt PLC stock in a transaction on Friday, June 2nd. The stock was acquired at an average cost of $42.89 per share, with a total value of $57,901.50. Following the completion of the acquisition, the vice president now owns 30,955 shares in the company, valued at $1,327,659.95. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Hugh M. O’neill acquired 1,000 shares of Mallinckrodt PLC stock in a transaction on Thursday, June 8th. The shares were purchased at an average cost of $40.24 per share, with a total value of $40,240.00. The disclosure for this purchase can be found here. Insiders have purchased 5,818 shares of company stock valued at $248,608 over the last ninety days. 0.77% of the stock is currently owned by company insiders.
About Mallinckrodt PLC
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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