Mallinckrodt PLC (MNK) Shares Sold by BKS Advisors LLC
BKS Advisors LLC decreased its stake in Mallinckrodt PLC (NYSE:MNK) by 15.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,964 shares of the company’s stock after selling 10,750 shares during the period. BKS Advisors LLC owned about 0.06% of Mallinckrodt PLC worth $2,597,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. IFP Advisors Inc raised its stake in shares of Mallinckrodt PLC by 324.6% in the first quarter. IFP Advisors Inc now owns 2,518 shares of the company’s stock valued at $112,000 after buying an additional 1,925 shares during the last quarter. Denali Advisors LLC bought a new stake in shares of Mallinckrodt PLC during the second quarter valued at approximately $112,000. Ameritas Investment Partners Inc. bought a new stake in shares of Mallinckrodt PLC during the first quarter valued at approximately $115,000. Daiwa Securities Group Inc. raised its stake in shares of Mallinckrodt PLC by 18.5% in the first quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the company’s stock valued at $143,000 after buying an additional 500 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Mallinckrodt PLC by 335.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,373 shares of the company’s stock valued at $150,000 after buying an additional 2,599 shares during the last quarter. Institutional investors own 97.48% of the company’s stock.
Mallinckrodt PLC (NYSE:MNK) opened at 39.14 on Wednesday. The firm’s market cap is $3.80 billion. The stock’s 50 day moving average is $41.61 and its 200-day moving average is $44.76. Mallinckrodt PLC has a 1-year low of $35.04 and a 1-year high of $77.42.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.12. The company had revenue of $824.50 million during the quarter, compared to analysts’ expectations of $829.56 million. Mallinckrodt PLC had a return on equity of 15.28% and a net margin of 12.64%. Mallinckrodt PLC’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.03 earnings per share. Analysts forecast that Mallinckrodt PLC will post $7.45 EPS for the current year.
Several brokerages have commented on MNK. Canaccord Genuity set a $87.00 target price on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research report on Monday, July 17th. Cantor Fitzgerald began coverage on shares of Mallinckrodt PLC in a research report on Friday, June 16th. They set an “overweight” rating and a $52.00 target price on the stock. Zacks Investment Research upgraded shares of Mallinckrodt PLC from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Wells Fargo & Company restated an “outperform” rating and set a $83.50 target price on shares of Mallinckrodt PLC in a research report on Wednesday, June 21st. Finally, BidaskClub lowered shares of Mallinckrodt PLC from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. Mallinckrodt PLC presently has an average rating of “Buy” and an average price target of $68.99.
In other news, VP Steven J. Romano acquired 1,000 shares of Mallinckrodt PLC stock in a transaction dated Friday, June 9th. The stock was bought at an average cost of $39.88 per share, with a total value of $39,880.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Coleman N. Lannum III acquired 1,350 shares of Mallinckrodt PLC stock in a transaction dated Friday, June 2nd. The shares were purchased at an average cost of $42.89 per share, with a total value of $57,901.50. Following the completion of the transaction, the vice president now directly owns 30,955 shares of the company’s stock, valued at $1,327,659.95. The disclosure for this purchase can be found here. Insiders have bought 3,850 shares of company stock valued at $157,687 over the last ninety days. 0.53% of the stock is owned by insiders.
About Mallinckrodt PLC
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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