Retirement Systems of Alabama boosted its position in Mallinckrodt PLC (NYSE:MNK) by 136.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 125,591 shares of the company’s stock after buying an additional 72,447 shares during the period. Retirement Systems of Alabama’s holdings in Mallinckrodt PLC were worth $7,633,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in MNK. Meeder Asset Management Inc. purchased a new stake in Mallinckrodt PLC during the first quarter worth approximately $275,000. Algert Global LLC purchased a new stake in Mallinckrodt PLC during the first quarter worth approximately $324,000. LS Investment Advisors LLC boosted 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 during the last quarter. Smith Moore & CO. boosted its stake in 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 during the last quarter. Finally, Virginia Retirement System purchased a new stake in Mallinckrodt PLC during the first quarter worth approximately $441,000. Institutional investors own 94.74% of the company’s stock.
Shares of Mallinckrodt PLC (NYSE:MNK) traded up 0.45% during mid-day trading on Friday, hitting $69.79. 1,335,802 shares of the stock were exchanged. The company has a 50-day moving average price of $74.32 and a 200-day moving average price of $66.55. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 13.16 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 announced its earnings results on Tuesday, August 2nd. The company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.20. Mallinckrodt PLC had a return on equity of 17.78% and a net margin of 16.39%. The firm had revenue of $970.60 million for the quarter, compared to analyst estimates of $920.35 million. During the same quarter last year, the firm posted $2.05 EPS. The business’s revenue was up .6% on a year-over-year basis. Equities analysts expect that Mallinckrodt PLC will post $7.63 earnings per share for the current year.
Several research firms have recently issued reports on MNK. BMO Capital Markets reiterated a “buy” rating and set a $84.00 price objective on shares of Mallinckrodt PLC in a research report on Tuesday, July 19th. Zacks Investment Research upgraded shares of Mallinckrodt PLC from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Tuesday, July 19th. Barclays PLC lifted their price objective on shares of Mallinckrodt PLC from $75.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. set a $85.00 price objective on shares of Mallinckrodt PLC and gave the company a “hold” rating in a research report on Wednesday, August 3rd. Finally, Morgan Stanley reiterated a “buy” rating and set a $82.00 price objective on shares of Mallinckrodt PLC in a research report on Wednesday, September 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $92.40.
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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