Nisa Investment Advisors LLC Reduces Stake in Mallinckrodt PLC (MNK)
Nisa Investment Advisors LLC decreased its position in Mallinckrodt PLC (NYSE:MNK) by 68.5% during the second quarter, Holdings Channel reports. The firm owned 3,775 shares of the company’s stock after selling 8,200 shares during the period. Nisa Investment Advisors LLC’s holdings in Mallinckrodt PLC were worth $168,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MNK. Vanguard Group Inc. increased its position in Mallinckrodt PLC by 1.0% in the first quarter. Vanguard Group Inc. now owns 10,247,891 shares of the company’s stock worth $456,748,000 after buying an additional 103,924 shares during the period. BlackRock Inc. raised 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 in the last quarter. State Street Corp raised its stake in shares of Mallinckrodt PLC by 5.1% in the first quarter. State Street Corp now owns 5,197,656 shares of the company’s stock worth $231,654,000 after buying an additional 250,838 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Mallinckrodt PLC by 1,455.5% in the first quarter. Alliancebernstein L.P. now owns 2,900,796 shares of the company’s stock worth $129,288,000 after buying an additional 2,714,313 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Mallinckrodt PLC by 12.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,614,565 shares of the company’s stock worth $71,968,000 after buying an additional 174,712 shares in the last quarter. 94.65% of the stock is currently owned by institutional investors and hedge funds.
Mallinckrodt PLC (NYSE:MNK) traded up 0.08% during trading on Wednesday, hitting $35.66. The stock had a trading volume of 931,924 shares. The company’s market capitalization is $3.47 billion. The stock’s 50-day moving average price is $43.27 and its 200-day moving average price is $45.39. Mallinckrodt PLC has a 1-year low of $35.04 and a 1-year high of $85.83.
Mallinckrodt PLC (NYSE:MNK) last announced its quarterly earnings data 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. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. The company had revenue of $824.50 million during the quarter, compared to analyst estimates of $829.56 million. During the same period in the previous year, the business earned $2.03 EPS. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. Analysts expect that Mallinckrodt PLC will post $7.48 earnings per share for the current year.
A number of analysts have commented on the company. UBS AG set a $70.00 price objective on Mallinckrodt PLC and gave the stock a “buy” rating in a report on Wednesday, May 24th. Mizuho reissued a “buy” rating and set a $73.00 price objective on shares of Mallinckrodt PLC in a report on Wednesday, May 31st. Wells Fargo & Company reissued an “outperform” rating and set a $83.50 price objective on shares of Mallinckrodt PLC in a report on Wednesday, June 21st. BidaskClub raised Mallinckrodt PLC from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Oppenheimer Holdings, Inc. set a $70.00 price objective on Mallinckrodt PLC and gave the stock a “buy” rating in a report on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have given 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 related news, VP Coleman N. Lannum III bought 1,350 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was acquired at an average price of $42.89 per share, with a total value of $57,901.50. Following the transaction, the vice president now owns 30,955 shares in the company, valued at approximately $1,327,659.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Hugh M. O’neill bought 1,000 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was bought 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. In the last ninety days, insiders acquired 3,850 shares of company stock valued at $157,687. 0.53% of the stock is currently owned by insiders.
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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