Quantitative Systematic Strategies LLC purchased a new stake in Mallinckrodt PLC (NYSE:MNK) during the second quarter, Holdings Channel reports. The firm purchased 5,598 shares of the company’s stock, valued at approximately $335,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. purchased a new stake in Mallinckrodt PLC during the first quarter worth $275,000. LS Investment Advisors LLC raised its stake in 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. Virginia Retirement System purchased a new stake in Mallinckrodt PLC during the first quarter worth $441,000. Oakbrook Investments LLC raised its stake in Mallinckrodt PLC by 18.6% in the second quarter. Oakbrook Investments LLC now owns 7,500 shares of the company’s stock worth $456,000 after buying an additional 1,175 shares in the last quarter. Finally, Quotient Investors LLC purchased a new stake in Mallinckrodt PLC during the second quarter worth $486,000. Institutional investors own 94.74% of the company’s stock.
Mallinckrodt PLC (NYSE:MNK) traded down 1.63% during midday trading on Friday, hitting $65.82. 849,192 shares of the stock traded hands. The company’s 50 day moving average price is $72.56 and its 200 day moving average price is $66.77. The firm has a market cap of $7.09 billion, a PE ratio of 12.41 and a beta of 1.53. Mallinckrodt PLC has a 12 month low of $50.90 and a 12 month high of $85.83.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $2.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $970.60 million for the quarter, compared to the consensus estimate of $920.35 million. During the same quarter in the prior year, the company posted $2.05 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts predict that Mallinckrodt PLC will post $7.63 earnings per share for the current fiscal year.
A number of research firms have weighed in on MNK. Piper Jaffray Cos. raised their price objective on shares of Mallinckrodt PLC from $103.00 to $112.00 and gave the company an “overweight” rating in a research note on Wednesday, August 24th. Vetr raised shares of Mallinckrodt PLC from a “hold” rating to a “buy” rating and set a $88.80 price target on the stock in a report on Monday, August 22nd. Mizuho reaffirmed a “buy” rating and set a $91.00 price target on shares of Mallinckrodt PLC in a report on Saturday, August 13th. Jefferies Group reaffirmed a “buy” rating and set a $95.00 price target (up previously from $85.00) on shares of Mallinckrodt PLC in a report on Thursday, August 4th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $88.00 price target on shares of Mallinckrodt PLC in a report on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $92.40.
Mallinckrodt PLC Company Profile
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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