State of Wisconsin Investment Board lifted its stake in shares of Mallinckrodt PLC (NYSE:MNK) by 41.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 373,119 shares of the company’s stock after purchasing an additional 108,696 shares during the quarter. State of Wisconsin Investment Board owned about 0.38% of Mallinckrodt PLC worth $13,943,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in MNK. HealthCor Management L.P. bought a new position in shares of Mallinckrodt PLC during the 2nd quarter worth about $107,649,000. Janus Henderson Group PLC boosted its position in shares of Mallinckrodt PLC by 6,828.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,396,780 shares of the company’s stock worth $62,590,000 after purchasing an additional 1,376,619 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Mallinckrodt PLC by 117.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,937,444 shares of the company’s stock worth $86,815,000 after purchasing an additional 1,045,757 shares in the last quarter. AJO LP boosted its position in shares of Mallinckrodt PLC by 165.6% during the 2nd quarter. AJO LP now owns 927,472 shares of the company’s stock worth $41,560,000 after purchasing an additional 578,266 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Mallinckrodt PLC by 33.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,161,814 shares of the company’s stock worth $96,868,000 after purchasing an additional 547,249 shares in the last quarter. 98.83% of the stock is currently owned by institutional investors.
Shares of Mallinckrodt PLC (MNK) opened at $21.90 on Tuesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.38. Mallinckrodt PLC has a one year low of $19.00 and a one year high of $68.12. The stock has a market cap of $2,067.31, a P/E ratio of 2.94, a PEG ratio of 0.33 and a beta of 1.46.
Mallinckrodt PLC (NYSE:MNK) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.17. Mallinckrodt PLC had a net margin of 11.43% and a return on equity of 14.79%. The company had revenue of $793.90 million during the quarter, compared to analyst estimates of $808.93 million. During the same quarter last year, the business posted $2.04 EPS. Mallinckrodt PLC’s quarterly revenue was down 10.5% compared to the same quarter last year. research analysts expect that Mallinckrodt PLC will post 7.23 earnings per share for the current year.
In related news, Director David R. Carlucci purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was bought at an average price of $21.83 per share, for a total transaction of $218,300.00. Following the purchase, the director now directly owns 26,020 shares in the company, valued at approximately $568,016.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Trudeau purchased 5,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were bought at an average price of $22.28 per share, with a total value of $111,400.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 27,180 shares of company stock valued at $610,166. 0.53% of the stock is currently owned by company insiders.
Several equities analysts recently weighed in on the stock. Canaccord Genuity set a $87.00 price target on shares of Mallinckrodt PLC and gave the company a “buy” rating in a research report on Monday, July 17th. ValuEngine raised shares of Mallinckrodt PLC from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research raised shares of Mallinckrodt PLC from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Morgan Stanley cut shares of Mallinckrodt PLC from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $65.00 to $40.00 in a research report on Wednesday, September 6th. Finally, Mizuho reaffirmed a “hold” rating and issued a $40.00 price target on shares of Mallinckrodt PLC in a research report on Sunday, October 15th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.14.
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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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