NGAM Advisors L.P. Has $2.08 Million Stake in Mallinckrodt PLC (NYSE:MNK)
NGAM Advisors L.P. cut its stake in Mallinckrodt PLC (NYSE:MNK) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,357 shares of the company’s stock after selling 706 shares during the period. NGAM Advisors L.P.’s holdings in Mallinckrodt PLC were worth $2,077,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in MNK. BlackRock Inc. raised its position in Mallinckrodt PLC by 4,060.7% in the first quarter. BlackRock Inc. now owns 8,734,709 shares of the company’s stock valued at $389,307,000 after buying an additional 8,524,773 shares in the last quarter. Wells Fargo & Company MN raised 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 raised 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 raised 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 bought a new stake in shares of Mallinckrodt PLC during the first quarter worth $891,000. 95.71% of the stock is currently owned by institutional investors and hedge funds.
Mallinckrodt PLC (NYSE MNK) opened at 36.52 on Friday. Mallinckrodt PLC has a 12 month low of $36.02 and a 12 month high of $85.83. The firm’s market cap is $3.55 billion. The firm has a 50 day moving average of $43.88 and a 200-day moving average of $45.56.
Mallinckrodt PLC (NYSE:MNK) last issued its earnings results on Tuesday, August 8th. The company reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.12. The business had revenue of $824.50 million for the quarter, compared to the consensus estimate of $829.56 million. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.03 earnings per share. On average, equities research analysts forecast that Mallinckrodt PLC will post $7.48 earnings per share for the current year.
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A number of equities research analysts have recently weighed in on MNK shares. Jefferies Group LLC reissued a “buy” rating and set a $70.00 price objective on shares of Mallinckrodt PLC in a report on Tuesday, June 20th. Morgan Stanley set a $65.00 price objective on shares of Mallinckrodt PLC and gave the company a “buy” rating in a report on Wednesday, May 31st. Deutsche Bank AG set a $68.00 price objective on shares of Mallinckrodt PLC and gave the company a “buy” rating in a report on Wednesday, May 31st. Mizuho reissued a “buy” rating and set a $73.00 price objective on shares of Mallinckrodt PLC in a report on Wednesday, May 31st. Finally, UBS AG set a $70.00 price objective on shares of Mallinckrodt PLC and gave the company a “buy” rating in a report on Wednesday, May 24th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Mallinckrodt PLC has an average rating of “Buy” and a consensus price target of $71.25.
In other news, VP Coleman N. Lannum III bought 1,350 shares of the stock in a transaction dated Friday, June 2nd. The shares were acquired at an average price of $42.89 per share, with a total value of $57,901.50. Following the completion of the acquisition, the vice president now directly owns 30,955 shares in the company, valued at $1,327,659.95. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Hugh M. O’neill bought 1,000 shares of the stock in a transaction dated 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 disclosure for this purchase can be found here. In the last ninety days, insiders bought 3,850 shares of company stock worth $157,687. Insiders own 0.77% of the company’s stock.
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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