Retirement Systems of Alabama Has $4.69 Million Position in Mallinckrodt PLC (MNK)
Retirement Systems of Alabama decreased its position in shares of Mallinckrodt PLC (NYSE:MNK) by 18.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 125,389 shares of the company’s stock after selling 28,008 shares during the quarter. Retirement Systems of Alabama owned approximately 0.13% of Mallinckrodt PLC worth $4,686,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MNK. Sterling Capital Management LLC purchased a new position in shares of Mallinckrodt PLC during the 2nd quarter valued at $204,000. Advisor Partners LLC purchased a new position in shares of Mallinckrodt PLC during the 2nd quarter valued at $242,000. Municipal Employees Retirement System of Michigan lifted its stake in shares of Mallinckrodt PLC by 24.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 5,640 shares of the company’s stock valued at $253,000 after buying an additional 1,110 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of Mallinckrodt PLC during the 2nd quarter valued at $260,000. Finally, Alps Advisors Inc. lifted its stake in shares of Mallinckrodt PLC by 22.3% during the 2nd quarter. Alps Advisors Inc. now owns 6,465 shares of the company’s stock valued at $290,000 after buying an additional 1,179 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.
Mallinckrodt PLC (NYSE MNK) opened at $21.39 on Wednesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.38 and a quick ratio of 1.05. The company has a market cap of $2,072.06, a PE ratio of 2.94, a price-to-earnings-growth ratio of 0.31 and a beta of 1.46. Mallinckrodt PLC has a one year low of $19.00 and a one year high of $58.09.
Mallinckrodt PLC (NYSE:MNK) last issued its earnings results on Tuesday, November 7th. The company reported $1.97 EPS for the quarter, topping the Zacks’ consensus estimate of $1.80 by $0.17. The business had revenue of $793.90 million for the quarter, compared to the consensus estimate of $808.93 million. Mallinckrodt PLC had a net margin of 11.43% and a return on equity of 14.79%. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.04 EPS. sell-side analysts anticipate that Mallinckrodt PLC will post 7.23 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on MNK shares. Piper Jaffray Companies set a $67.00 target price on shares of Mallinckrodt PLC and gave the company a “buy” rating in a research note on Saturday, October 21st. Zacks Investment Research upgraded shares of Mallinckrodt PLC from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Mallinckrodt PLC in a research note on Thursday, September 28th. They issued a “buy” rating and a $55.00 price target on the stock. UBS AG reiterated a “buy” rating and issued a $70.00 price target on shares of Mallinckrodt PLC in a research note on Wednesday, September 6th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Mallinckrodt PLC in a research note on Friday, October 6th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $48.14.
In other Mallinckrodt PLC news, General Counsel Michael-Bryant Hicks purchased 7,900 shares of the stock in a transaction dated Thursday, November 9th. The stock was purchased at an average price of $20.80 per share, with a total value of $164,320.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Meredith B. Fischer purchased 1,280 shares of the stock in a transaction dated Wednesday, August 30th. The stock was acquired at an average cost of $39.63 per share, with a total value of $50,726.40. The disclosure for this purchase can be found here. Insiders acquired a total of 27,180 shares of company stock worth $610,166 over the last 90 days. 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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