Norinchukin Bank The Has $1.99 Million Stake in Mallinckrodt PLC (MNK)
Norinchukin Bank The grew its position in Mallinckrodt PLC (NYSE:MNK) by 14.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,423 shares of the company’s stock after buying an additional 5,619 shares during the quarter. Norinchukin Bank The’s holdings in Mallinckrodt PLC were worth $1,991,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Denali Advisors LLC acquired a new position in shares of Mallinckrodt PLC in the 2nd quarter valued at approximately $112,000. Ameritas Investment Partners Inc. acquired a new position in shares of Mallinckrodt PLC in the 1st quarter valued at approximately $115,000. Daiwa Securities Group Inc. raised its position in shares of Mallinckrodt PLC by 18.5% in the 1st 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 in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Mallinckrodt PLC by 335.8% in the 1st 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 in the last quarter. Finally, Baker Avenue Asset Management LP acquired a new position in shares of Mallinckrodt PLC in the 1st quarter valued at approximately $223,000. Institutional investors own 97.48% of the company’s stock.
In other Mallinckrodt PLC news, insider Meredith B. Fischer purchased 1,280 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were purchased at an average cost of $39.63 per share, with a total value of $50,726.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.77% of the company’s stock.
Several brokerages have recently commented on MNK. Canaccord Genuity set a $87.00 target price on shares of Mallinckrodt PLC and gave the company 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 issued an “overweight” rating and a $52.00 target price for the company. Morgan Stanley cut shares of Mallinckrodt PLC from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $65.00 to $40.00 in a research report on Wednesday, September 6th. Mizuho cut shares of Mallinckrodt PLC from a “buy” rating to a “neutral” rating and dropped their target price for the company from $70.00 to $40.00 in a research report on Wednesday. Finally, Zacks Investment Research upgraded shares of Mallinckrodt PLC from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $64.15.
Shares of Mallinckrodt PLC (MNK) opened at 34.27 on Friday. The firm’s 50-day moving average is $38.33 and its 200-day moving average is $43.27. The company’s market capitalization is $3.33 billion. Mallinckrodt PLC has a 12-month low of $34.17 and a 12-month high of $77.25.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.73 by $0.12. The firm had revenue of $824.50 million for the quarter, compared to the consensus estimate 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 was down 4.9% compared to the same quarter last year. During the same period last year, the firm posted $2.03 earnings per share. On average, equities analysts predict that Mallinckrodt PLC will post $7.43 EPS for the current year.
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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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