Public Employees Retirement Association of Colorado Has $731,000 Position in Mallinckrodt PLC (MNK)
Public Employees Retirement Association of Colorado decreased its stake in shares of Mallinckrodt PLC (NYSE:MNK) by 10.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,556 shares of the company’s stock after selling 2,204 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Mallinckrodt PLC were worth $731,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Alliancebernstein L.P. lifted its position in Mallinckrodt PLC by 15.4% during the second quarter. Alliancebernstein L.P. now owns 3,348,807 shares of the company’s stock worth $150,060,000 after buying an additional 448,011 shares in the last quarter. HealthCor Management L.P. purchased a new position in Mallinckrodt PLC during the second quarter worth approximately $107,649,000. Dimensional Fund Advisors LP lifted its position in Mallinckrodt PLC by 33.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,161,814 shares of the company’s stock worth $96,868,000 after buying an additional 547,249 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Mallinckrodt PLC by 117.3% during the second quarter. Ameriprise Financial Inc. now owns 1,937,444 shares of the company’s stock worth $86,815,000 after buying an additional 1,045,757 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in Mallinckrodt PLC by 6,828.1% during the second quarter. Janus Henderson Group PLC now owns 1,396,780 shares of the company’s stock worth $62,590,000 after buying an additional 1,376,619 shares in the last quarter. Hedge funds and other institutional investors own 98.83% of the company’s stock.
MNK has been the topic of a number of analyst reports. Stifel Nicolaus reduced their price objective on Mallinckrodt PLC from $70.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. Zacks Investment Research downgraded Mallinckrodt PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Deutsche Bank AG set a $56.00 price objective on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Piper Jaffray Companies set a $67.00 price objective on Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Saturday, October 21st. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $60.00 price objective on shares of Mallinckrodt PLC in a research report on Friday, October 6th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $48.14.
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In related news, General Counsel Michael-Bryant Hicks bought 7,900 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was purchased at an average cost of $20.80 per share, with a total value of $164,320.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Meredith B. Fischer bought 1,280 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were bought 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 have purchased a total of 27,180 shares of company stock valued at $610,166 over the last three months. 0.53% of the stock is currently owned by insiders.
Shares of Mallinckrodt PLC (NYSE:MNK) opened at $21.90 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.38 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $2,067.31, a price-to-earnings ratio of 2.94, a P/E/G ratio of 0.33 and a beta of 1.46. Mallinckrodt PLC has a 1-year low of $19.00 and a 1-year high of $68.12.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $1.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.80 by $0.17. The firm had revenue of $793.90 million for the quarter, compared to the consensus estimate of $808.93 million. Mallinckrodt PLC had a return on equity of 14.79% and a net margin of 11.43%. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.04 EPS. research analysts forecast that Mallinckrodt PLC will post 7.23 earnings per share for the current fiscal year.
Mallinckrodt PLC 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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