Fmr LLC reduced its position in Mallinckrodt PLC (NYSE:MNK) by 34.0% during the first quarter, Holdings Channel reports. The fund owned 411,775 shares of the company’s stock after selling 212,165 shares during the period. Fmr LLC’s holdings in Mallinckrodt PLC were worth $18,353,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP acquired a new position in Mallinckrodt PLC during the first quarter worth approximately $373,000. Principal Financial Group Inc. increased its position in Mallinckrodt PLC by 0.4% in the first quarter. Principal Financial Group Inc. now owns 164,395 shares of the company’s stock worth $7,328,000 after buying an additional 699 shares in the last quarter. OppenheimerFunds Inc. increased its position in Mallinckrodt PLC by 23.1% in the first quarter. OppenheimerFunds Inc. now owns 8,887 shares of the company’s stock worth $396,000 after buying an additional 1,666 shares in the last quarter. Van ECK Associates Corp increased its position in Mallinckrodt PLC by 138.0% in the first quarter. Van ECK Associates Corp now owns 125,690 shares of the company’s stock worth $5,602,000 after buying an additional 72,884 shares in the last quarter. Finally, Credit Agricole S A increased its position in Mallinckrodt PLC by 3.3% in the first quarter. Credit Agricole S A now owns 545,478 shares of the company’s stock worth $24,312,000 after buying an additional 17,361 shares in the last quarter. 96.37% of the stock is owned by hedge funds and other institutional investors.
Mallinckrodt PLC (NYSE MNK) opened at 44.59 on Wednesday. Mallinckrodt PLC has a 12-month low of $38.80 and a 12-month high of $85.83. The company’s market capitalization is $4.43 billion. The firm has a 50-day moving average of $43.38 and a 200 day moving average of $46.37.
Mallinckrodt PLC (NYSE:MNK) last released its earnings results on Monday, May 8th. The company reported $1.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.05. The firm had revenue of $810.90 million for the quarter, compared to analysts’ expectations of $781.23 million. Mallinckrodt PLC had a net margin of 16.01% and a return on equity of 16.33%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $2.01 earnings per share. Analysts forecast that Mallinckrodt PLC will post $7.55 EPS for the current fiscal year.
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A number of equities analysts have recently commented on the stock. Guggenheim set a $98.00 price objective on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research note on Saturday, April 1st. UBS AG set a $70.00 price objective on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research note on Wednesday, May 24th. Piper Jaffray Companies set a $85.00 price objective on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research note on Sunday. Canaccord Genuity set a $87.00 price objective on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research note on Monday. Finally, Mizuho restated a “buy” rating and set a $73.00 price objective on shares of Mallinckrodt PLC in a research note on Wednesday, May 31st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Mallinckrodt PLC has a consensus rating of “Buy” and an average target price of $74.19.
In related news, VP Steven J. Romano bought 1,000 shares of the company’s stock in a transaction on Friday, June 9th. The shares were purchased at an average cost of $39.88 per share, for a total transaction of $39,880.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Coleman N. Lannum III bought 1,968 shares of the company’s stock in a transaction on Friday, May 12th. The stock was bought at an average price of $46.20 per share, for a total transaction of $90,921.60. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 5,818 shares of company stock worth $248,608. Corporate 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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