Retirement Systems of Alabama Buys 14,315 Shares of Mallinckrodt PLC (MNK)
Retirement Systems of Alabama increased its position in shares of Mallinckrodt PLC (NYSE:MNK) by 10.3% during the second quarter, Holdings Channel reports. The fund owned 153,397 shares of the company’s stock after buying an additional 14,315 shares during the period. Retirement Systems of Alabama’s holdings in Mallinckrodt PLC were worth $6,874,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of 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 during the last quarter. Denali Advisors LLC bought a new stake in Mallinckrodt PLC during the second quarter worth about $112,000. Ameritas Investment Partners Inc. bought a new stake in Mallinckrodt PLC during the first quarter worth about $115,000. 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 during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in Mallinckrodt PLC by 335.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,373 shares of the company’s stock worth $150,000 after buying an additional 2,599 shares during the last quarter. 94.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Mallinckrodt PLC (NYSE MNK) opened at 35.63 on Wednesday. The firm’s market capitalization is $3.46 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 12-month low of $35.04 and a 12-month high of $85.83.
Mallinckrodt PLC (NYSE:MNK) last released its quarterly earnings results on Tuesday, August 8th. The company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Mallinckrodt PLC’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.03 EPS. On average, equities analysts expect that Mallinckrodt PLC will post $7.48 EPS for the current year.
A number of equities research analysts recently issued reports on the company. Canaccord Genuity set a $87.00 target price on Mallinckrodt PLC and gave the company a “buy” rating in a research note on Monday, July 17th. Cantor Fitzgerald assumed coverage on Mallinckrodt PLC in a research note on Friday, June 16th. They issued an “overweight” rating and a $52.00 target price on the stock. Zacks Investment Research raised Mallinckrodt PLC from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $83.50 target price on shares of Mallinckrodt PLC in a research note on Wednesday, June 21st. Finally, BidaskClub lowered Mallinckrodt PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. Mallinckrodt PLC has an average rating of “Buy” and a consensus target price of $71.25.
In related news, VP Steven J. Romano purchased 1,000 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were bought at an average cost of $39.88 per share, for a total transaction of $39,880.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Coleman N. Lannum III purchased 1,350 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was bought at an average price of $42.89 per share, for a total transaction of $57,901.50. Following the completion of the transaction, the vice president now directly owns 30,955 shares in the company, valued at $1,327,659.95. The disclosure for this purchase can be found here. Insiders purchased a total of 3,850 shares of company stock worth $157,687 in the last quarter. Insiders own 0.53% of the company’s stock.
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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