Voya Investment Management LLC Sells 50,973 Shares of Mallinckrodt PLC (MNK)
Voya Investment Management LLC cut its stake in Mallinckrodt PLC (NYSE:MNK) by 27.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,201 shares of the company’s stock after selling 50,973 shares during the period. Voya Investment Management LLC owned about 0.14% of Mallinckrodt PLC worth $6,103,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in Mallinckrodt PLC by 4,060.7% in the first quarter. BlackRock Inc. now owns 8,734,709 shares of the company’s stock valued at $389,307,000 after purchasing an additional 8,524,773 shares during the period. Ameriprise Financial Inc. boosted its holdings in Mallinckrodt PLC by 117.3% in the second quarter. Ameriprise Financial Inc. now owns 1,937,444 shares of the company’s stock valued at $86,815,000 after purchasing an additional 1,045,757 shares during the period. Icon Advisers Inc. Co. boosted its holdings in Mallinckrodt PLC by 165.6% in the second quarter. Icon Advisers Inc. Co. now owns 114,200 shares of the company’s stock valued at $5,117,000 after purchasing an additional 71,200 shares during the period. Alliancebernstein L.P. boosted its holdings in Mallinckrodt PLC by 15.4% in the second quarter. Alliancebernstein L.P. now owns 3,348,807 shares of the company’s stock valued at $150,060,000 after purchasing an additional 448,011 shares during the period. Finally, LSV Asset Management boosted its holdings in Mallinckrodt PLC by 24.4% in the second quarter. LSV Asset Management now owns 1,249,612 shares of the company’s stock valued at $55,995,000 after purchasing an additional 244,753 shares during the period. Hedge funds and other institutional investors own 97.40% of the company’s stock.
Shares of Mallinckrodt PLC (NYSE:MNK) opened at 35.76 on Wednesday. The stock’s 50 day moving average price is $36.57 and its 200 day moving average price is $41.65. The stock’s market cap is $3.48 billion. Mallinckrodt PLC has a 52 week low of $33.61 and a 52 week high of $68.83.
Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $1.85 EPS for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.12. Mallinckrodt PLC had a net margin of 12.64% and a return on equity of 15.28%. The business had revenue of $824.50 million for the quarter, compared to analyst estimates of $829.56 million. During the same quarter last year, the business earned $2.03 earnings per share. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. Equities research analysts anticipate that Mallinckrodt PLC will post $7.40 EPS for the current fiscal year.
A number of research firms recently issued reports on MNK. Stifel Nicolaus reiterated a “buy” rating on shares of Mallinckrodt PLC in a report on Friday, October 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $60.00 target price on shares of Mallinckrodt PLC in a report on Friday, October 6th. UBS AG set a $70.00 target price on Mallinckrodt PLC and gave the company a “buy” rating in a report on Friday, October 6th. Piper Jaffray Companies reiterated a “buy” rating and issued a $67.00 target price on shares of Mallinckrodt PLC in a report on Thursday, October 5th. Finally, Canaccord Genuity downgraded Mallinckrodt PLC from a “buy” rating to a “hold” rating and decreased their price target for the stock from $77.00 to $40.00 in a report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $60.04.
In related news, insider Meredith B. Fischer acquired 1,280 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were acquired at an average price of $39.63 per share, for a total transaction of $50,726.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by company insiders.
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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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