Mizuho Asset Management Co. Ltd. raised its position in Mallinckrodt PLC (NYSE:MNK) by 125.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,771 shares of the company’s stock after buying an additional 984 shares during the period. Mizuho Asset Management Co. Ltd.’s holdings in Mallinckrodt PLC were worth $108,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of MNK. Morris Capital Advisors LLC acquired a new position in shares of Mallinckrodt PLC during the first quarter worth approximately $234,000. Meeder Asset Management Inc. purchased a new stake in Mallinckrodt PLC during the first quarter valued at about $275,000. CENTRAL TRUST Co raised its stake in Mallinckrodt PLC by 15.3% in the second quarter. CENTRAL TRUST Co now owns 4,900 shares of the company’s stock valued at $298,000 after buying an additional 650 shares during the period. Acrospire Investment Management LLC purchased a new stake in Mallinckrodt PLC during the first quarter valued at about $300,000. Finally, Algert Global LLC purchased a new stake in Mallinckrodt PLC during the first quarter valued at about $324,000. 94.74% of the stock is owned by institutional investors and hedge funds.
Mallinckrodt PLC (NYSE:MNK) traded down 2.61% during mid-day trading on Thursday, reaching $70.58. 251,219 shares of the company’s stock traded hands. The stock’s 50 day moving average is $76.22 and its 200-day moving average is $66.03. Mallinckrodt PLC has a 52 week low of $50.90 and a 52 week high of $85.83. The stock has a market capitalization of $7.60 billion, a PE ratio of 13.31 and a beta of 1.52.
Mallinckrodt PLC (NYSE:MNK) last announced its earnings results on Tuesday, August 2nd. The company reported $2.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.00 by $0.20. The company earned $970.60 million during the quarter, compared to analyst estimates of $920.35 million. Mallinckrodt PLC had a net margin of 16.39% and a return on equity of 17.78%. Mallinckrodt PLC’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.05 earnings per share. On average, equities analysts anticipate that Mallinckrodt PLC will post $7.67 EPS for the current year.
Several research firms have recently issued reports on MNK. Vetr lowered shares of Mallinckrodt PLC from a “buy” rating to a “hold” rating and set a $83.20 target price for the company. in a report on Wednesday, August 17th. Mizuho lowered their target price on shares of Mallinckrodt PLC from $91.00 to $89.00 and set a “buy” rating for the company in a report on Thursday. JPMorgan Chase & Co. set a $85.00 target price on shares of Mallinckrodt PLC and gave the stock a “hold” rating in a report on Wednesday, August 3rd. Zacks Investment Research lowered shares of Mallinckrodt PLC from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Finally, Guggenheim restated a “buy” rating and issued a $98.00 target price on shares of Mallinckrodt PLC in a report on Wednesday, August 3rd. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Mallinckrodt PLC currently has an average rating of “Buy” and an average 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.
Want to see what other hedge funds are holding MNK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mallinckrodt PLC (NYSE:MNK).
Receive News & Ratings for Mallinckrodt PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mallinckrodt PLC and related companies with MarketBeat.com's FREE daily email newsletter.