Estabrook Capital Management Has $264,000 Stake in Mallinckrodt PLC (MNK)
Estabrook Capital Management trimmed its holdings in shares of Mallinckrodt PLC (NYSE:MNK) by 1.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 5,896 shares of the company’s stock after selling 98 shares during the period. Estabrook Capital Management’s holdings in Mallinckrodt PLC were worth $264,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. IFP Advisors Inc lifted its holdings in shares of Mallinckrodt PLC by 324.6% during the 1st quarter. IFP Advisors Inc now owns 2,518 shares of the company’s stock worth $112,000 after acquiring an additional 1,925 shares during the period. Denali Advisors LLC bought a new position in shares of Mallinckrodt PLC during the 2nd quarter worth about $112,000. Ameritas Investment Partners Inc. bought a new position in shares of Mallinckrodt PLC during the 1st quarter worth about $115,000. Daiwa Securities Group Inc. lifted its holdings in shares of Mallinckrodt PLC by 18.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the company’s stock worth $143,000 after acquiring an additional 500 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of Mallinckrodt PLC by 335.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,373 shares of the company’s stock worth $150,000 after acquiring an additional 2,599 shares during the period. 97.48% of the stock is owned by institutional investors.
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In related news, insider Meredith B. Fischer bought 1,280 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was purchased at an average price of $39.63 per share, with a total value of $50,726.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.77% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently commented on the stock. UBS AG set a $70.00 price objective on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a report on Wednesday, May 24th. BMO Capital Markets reaffirmed an “outperform” rating and set a $65.00 price objective (down from $69.00) on shares of Mallinckrodt PLC in a report on Wednesday, August 9th. BidaskClub downgraded shares of Mallinckrodt PLC from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Deutsche Bank AG set a $56.00 price objective on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a report on Wednesday, August 9th. Finally, Raymond James Financial, Inc. reduced their price objective on shares of Mallinckrodt PLC from $65.00 to $58.00 and set an “outperform” rating for the company in a report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Mallinckrodt PLC currently has an average rating of “Buy” and a consensus price target of $68.49.
Mallinckrodt PLC (NYSE:MNK) traded up 0.48% during midday trading on Friday, reaching $35.33. 1,910,832 shares of the company’s stock traded hands. The stock has a 50-day moving average of $39.95 and a 200 day moving average of $43.93. The company’s market cap is $3.43 billion. Mallinckrodt PLC has a 52-week low of $34.51 and a 52-week high of $77.25.
Mallinckrodt PLC (NYSE:MNK) last posted its earnings results on Tuesday, August 8th. The company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. The firm had revenue of $824.50 million during the quarter, compared to analysts’ expectations of $829.56 million. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.03 earnings per share. On average, analysts anticipate that Mallinckrodt PLC will post $7.44 earnings per share for the current fiscal year.
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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