AHL Partners LLP Decreases Holdings in Mallinckrodt PLC (MNK)
AHL Partners LLP lessened its stake in shares of Mallinckrodt PLC (NYSE:MNK) by 20.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,767 shares of the company’s stock after selling 11,561 shares during the quarter. AHL Partners LLP’s holdings in Mallinckrodt PLC were worth $2,050,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Denali Advisors LLC bought a new stake in shares of Mallinckrodt PLC during the second quarter worth $112,000. Ameritas Investment Partners Inc. bought a new stake in shares of Mallinckrodt PLC during the first quarter worth $115,000. Baker Avenue Asset Management LP bought a new stake in shares of Mallinckrodt PLC during the first quarter worth $223,000. Advisor Partners LLC bought a new stake in shares of Mallinckrodt PLC during the second quarter worth $242,000. Finally, Municipal Employees Retirement System of Michigan grew its stake in shares of Mallinckrodt PLC by 24.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 5,640 shares of the company’s stock worth $253,000 after buying an additional 1,110 shares during the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.
In other Mallinckrodt PLC news, insider Meredith B. Fischer bought 1,280 shares of Mallinckrodt PLC stock in a transaction that occurred on Wednesday, August 30th. The shares were bought at an average price of $39.63 per share, with a total value of $50,726.40. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.77% of the stock is currently owned by company insiders.
MNK has been the topic of a number of research reports. Deutsche Bank AG set a $56.00 target price on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Jefferies Group LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Mallinckrodt PLC in a research note on Friday, October 6th. Piper Jaffray Companies set a $85.00 target price on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research note on Monday, August 7th. Oppenheimer Holdings, Inc. set a $70.00 target price on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, UBS AG set a $70.00 target price on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a research note on Friday, October 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $60.04.
Shares of Mallinckrodt PLC (NYSE MNK) opened at 34.73 on Friday. Mallinckrodt PLC has a 52 week low of $33.61 and a 52 week high of $68.43. The company’s market cap is $3.37 billion. The company has a 50 day moving average of $36.46 and a 200 day moving average of $41.55.
Mallinckrodt PLC (NYSE:MNK) last released its earnings results on Tuesday, August 8th. The company reported $1.85 EPS for the quarter, beating the Thomson Reuters’ 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 company had revenue of $824.50 million for the quarter, compared to analyst estimates of $829.56 million. During the same quarter last year, the firm earned $2.03 EPS. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, analysts expect that Mallinckrodt PLC will post $7.40 EPS for the current year.
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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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