Bank of Montreal Can purchased a new position in shares of Mallinckrodt PLC (NYSE:MNK) during the second quarter, according to its most recent disclosure with the SEC. The fund purchased 133,918 shares of the company’s stock, valued at approximately $8,139,000.
Other large investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new stake in Mallinckrodt PLC during the first quarter worth about $275,000. Algert Global LLC purchased a new stake in Mallinckrodt PLC during the first quarter worth about $324,000. LS Investment Advisors LLC boosted its position in shares of Mallinckrodt PLC by 2.4% in the second quarter. LS Investment Advisors LLC now owns 5,408 shares of the company’s stock worth $329,000 after buying an additional 126 shares in the last quarter. Smith Moore & CO. boosted its position in shares of Mallinckrodt PLC by 41.8% in the first quarter. Smith Moore & CO. now owns 5,873 shares of the company’s stock worth $360,000 after buying an additional 1,730 shares in the last quarter. Finally, Virginia Retirement System bought a new position in shares of Mallinckrodt PLC during the first quarter worth approximately $441,000. 94.74% of the stock is owned by hedge funds and other institutional investors.
Mallinckrodt PLC (NYSE:MNK) traded up 0.45% during trading on Friday, hitting $69.79. The stock had a trading volume of 1,335,802 shares. Mallinckrodt PLC has a 52 week low of $50.90 and a 52 week high of $85.83. The stock has a 50-day moving average price of $74.32 and a 200-day moving average price of $66.55. The company has a market cap of $7.52 billion, a PE ratio of 13.16 and a beta of 1.53.
Mallinckrodt PLC (NYSE:MNK) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $2.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.00 by $0.20. Mallinckrodt PLC had a net margin of 16.39% and a return on equity of 17.78%. The company earned $970.60 million during the quarter, compared to analysts’ expectations of $920.35 million. During the same period in the prior year, the company earned $2.05 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. Equities analysts predict that Mallinckrodt PLC will post $7.63 EPS for the current year.
A number of brokerages have commented on MNK. Zacks Investment Research cut Mallinckrodt PLC from a “hold” rating to a “sell” rating in a research note on Tuesday. Mizuho reduced their price objective on Mallinckrodt PLC from $91.00 to $89.00 and set a “buy” rating on the stock in a research note on Thursday, September 29th. Morgan Stanley restated a “buy” rating and set a $82.00 price objective on shares of Mallinckrodt PLC in a research note on Wednesday, September 21st. Leerink Swann restated an “outperform” rating and set a $92.00 price objective (up previously from $91.00) on shares of Mallinckrodt PLC in a research note on Friday, September 16th. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $105.00 price objective (down previously from $112.00) on shares of Mallinckrodt PLC in a research note on Wednesday, September 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the company’s stock. Mallinckrodt PLC currently has an average rating of “Buy” and a consensus target price of $94.54.
About Mallinckrodt PLC
Mallinckrodt public limited company (Mallinckrodt) is engaged in the specialty pharmaceuticals and nuclear imaging business. The Company develops, manufactures, markets and distributes specialty pharmaceutical and biopharmaceutical products, and nuclear imaging agents. The Company’s segments include Specialty Brands, Specialty Generics and Nuclear Imaging.
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