Mallinckrodt PLC (NYSE:MNK) Shares Bought by Clark Estates Inc. NY
Clark Estates Inc. NY boosted its position in shares of Mallinckrodt PLC (NYSE:MNK) by 47.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 62,000 shares of the company’s stock after buying an additional 20,000 shares during the period. Clark Estates Inc. NY’s holdings in Mallinckrodt PLC were worth $2,778,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Mallinckrodt PLC by 4,060.7% in the first quarter. BlackRock Inc. now owns 8,734,709 shares of the company’s stock worth $389,307,000 after buying an additional 8,524,773 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Mallinckrodt PLC by 9.7% in the first quarter. Wells Fargo & Company MN now owns 164,309 shares of the company’s stock worth $7,322,000 after buying an additional 14,485 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Mallinckrodt PLC by 18.5% in the first quarter. LS Investment Advisors LLC now owns 6,116 shares of the company’s stock worth $273,000 after buying an additional 955 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Mallinckrodt PLC by 48.9% in the first quarter. Acadian Asset Management LLC now owns 723,612 shares of the company’s stock worth $32,252,000 after buying an additional 237,728 shares during the period. Finally, RBF Capital LLC purchased a new stake in shares of Mallinckrodt PLC during the first quarter worth about $891,000. 95.71% of the stock is owned by hedge funds and other institutional investors.
Mallinckrodt PLC (NYSE:MNK) opened at 36.52 on Friday. The stock’s market capitalization is $3.55 billion. Mallinckrodt PLC has a 52 week low of $36.02 and a 52 week high of $85.83. The stock’s 50 day moving average price is $43.88 and its 200-day moving average price is $45.56.
Mallinckrodt PLC (NYSE:MNK) last released its earnings results on Tuesday, August 8th. The company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. The firm had revenue of $824.50 million during the quarter, compared to the consensus estimate of $829.56 million. Mallinckrodt PLC had a return on equity of 15.28% and a net margin of 12.64%. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.03 earnings per share. Equities research analysts expect that Mallinckrodt PLC will post $7.48 earnings per share for the current year.
MNK has been the subject of a number of research analyst reports. Zacks Investment Research cut Mallinckrodt PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Jefferies Group LLC reissued a “buy” rating and issued a $70.00 target price on shares of Mallinckrodt PLC in a research report on Thursday, August 3rd. Canaccord Genuity set a $87.00 target price on Mallinckrodt PLC and gave the company a “buy” rating in a research report on Monday, July 17th. UBS AG set a $70.00 target price on Mallinckrodt PLC and gave the company a “buy” rating in a research report on Wednesday. Finally, Deutsche Bank AG set a $68.00 target price on Mallinckrodt PLC and gave the company a “buy” rating in a research report on Wednesday, May 31st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $72.44.
In other news, VP Hugh M. O’neill bought 1,000 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was purchased at an average cost of $40.24 per share, for a total transaction of $40,240.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Coleman N. Lannum III bought 1,350 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was purchased at an average price of $42.89 per share, with a total value of $57,901.50. Following the completion of the transaction, the vice president now directly owns 30,955 shares of the company’s stock, valued at $1,327,659.95. The disclosure for this purchase can be found here. Insiders acquired 3,850 shares of company stock valued at $157,687 over the last 90 days. 0.77% of the stock is currently owned by 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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