Mallinckrodt PLC (MNK) Stake Lowered by National Planning Corp
National Planning Corp reduced its position 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 fund owned 87,761 shares of the company’s stock after selling 1,300 shares during the period. National Planning Corp’s holdings in Mallinckrodt PLC were worth $3,976,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of MNK. IFP Advisors Inc increased 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 period. Denali Advisors LLC purchased a new stake in Mallinckrodt PLC during the second quarter worth $112,000. Ameritas Investment Partners Inc. purchased a new stake in Mallinckrodt PLC during the first quarter worth $115,000. Daiwa Securities Group Inc. increased 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 period. Finally, O Shaughnessy Asset Management LLC increased 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 period. Institutional investors and hedge funds own 95.71% of the company’s stock.
Mallinckrodt PLC (NYSE MNK) opened at 37.72 on Thursday. Mallinckrodt PLC has a 1-year low of $37.04 and a 1-year high of $85.83. The stock has a 50 day moving average of $44.37 and a 200-day moving average of $45.69. The company’s market cap is $3.72 billion.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $1.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.12. The business had revenue of $824.50 million for the quarter, compared to analyst estimates of $829.56 million. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter last year, the business posted $2.03 EPS. On average, equities research analysts predict that Mallinckrodt PLC will post $7.54 earnings per share for the current year.
A number of equities research analysts recently weighed in on the company. UBS AG set a $70.00 target price on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Wednesday, May 24th. Deutsche Bank AG set a $56.00 target price on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Wednesday. Raymond James Financial, Inc. decreased their target price on Mallinckrodt PLC from $65.00 to $58.00 and set an “outperform” rating on the stock in a research report on Wednesday. BMO Capital Markets decreased their target price on Mallinckrodt PLC from $69.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Mizuho reissued a “buy” rating and set a $70.00 target price (down from $73.00) on shares of Mallinckrodt PLC in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Mallinckrodt PLC currently has an average rating of “Buy” and a consensus price target of $72.44.
In related news, VP Steven J. Romano bought 1,000 shares of the business’s stock in a transaction on Friday, June 9th. The shares were purchased at an average price of $39.88 per share, for a total transaction of $39,880.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 bought at an average price of $42.89 per share, for a total transaction of $57,901.50. Following 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 have purchased a total of 5,818 shares of company stock worth $248,608 in the last quarter. 0.77% of the stock is currently owned by company 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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