Rafferty Asset Management LLC reduced its stake in Mallinckrodt PLC (NYSE:MNK) by 18.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,635 shares of the company’s stock after selling 19,828 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.09% of Mallinckrodt PLC worth $3,882,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of MNK. Denali Advisors LLC purchased a new stake in Mallinckrodt PLC in the 2nd quarter valued at $112,000. Ameritas Investment Partners Inc. purchased a new stake in Mallinckrodt PLC in the 1st quarter valued at $115,000. Daiwa Securities Group Inc. grew its holdings in Mallinckrodt PLC by 18.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the company’s stock valued at $143,000 after buying an additional 500 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Mallinckrodt PLC by 335.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,373 shares of the company’s stock valued at $150,000 after buying an additional 2,599 shares in the last quarter. Finally, Baker Avenue Asset Management LP purchased a new stake in Mallinckrodt PLC in the 1st quarter valued at $223,000. Institutional investors own 97.40% of the company’s stock.
Shares of Mallinckrodt PLC (MNK) traded up 0.88% during trading on Wednesday, reaching $34.37. The company had a trading volume of 200,043 shares. The firm’s market capitalization is $3.34 billion. The firm has a 50-day moving average of $37.65 and a 200 day moving average of $42.88. Mallinckrodt PLC has a 52 week low of $33.61 and a 52 week high of $76.81.
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, beating the Zacks’ consensus estimate of $1.73 by $0.12. Mallinckrodt PLC had a return on equity of 15.28% and a net margin of 12.64%. The firm had revenue of $824.50 million during the quarter, compared to the consensus estimate of $829.56 million. During the same quarter in the previous year, the business earned $2.03 earnings per share. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Mallinckrodt PLC will post $7.43 earnings per share for the current year.
Several analysts have issued reports on the company. UBS AG restated a “buy” rating and issued a $70.00 target price (down from $100.00) on shares of Mallinckrodt PLC in a report on Thursday, June 29th. They noted that the move was a valuation call. BidaskClub cut Mallinckrodt PLC from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Mizuho restated a “buy” rating and issued a $73.00 target price on shares of Mallinckrodt PLC in a report on Wednesday, May 31st. Wells Fargo & Company restated an “outperform” rating and issued a $83.50 target price on shares of Mallinckrodt PLC in a report on Wednesday, June 21st. Finally, Oppenheimer Holdings, Inc. set a $70.00 target price on Mallinckrodt PLC and gave the company a “buy” rating in a report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. Mallinckrodt PLC presently has an average rating of “Buy” and a consensus target price of $62.99.
In other news, insider Meredith B. Fischer purchased 1,280 shares of the stock in a transaction on Wednesday, August 30th. The stock was purchased at an average price of $39.63 per share, with a total value of $50,726.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by insiders.
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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