Janus Henderson Group PLC grew its stake in shares of Mallinckrodt PLC (NYSE:MNK) by 6,828.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,396,780 shares of the company’s stock after acquiring an additional 1,376,619 shares during the period. Janus Henderson Group PLC owned about 1.41% of Mallinckrodt PLC worth $62,590,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in MNK. Denali Advisors LLC acquired a new position in Mallinckrodt PLC during the 2nd quarter worth $112,000. Ameritas Investment Partners Inc. acquired a new position in Mallinckrodt PLC during the 1st quarter worth $115,000. Baker Avenue Asset Management LP acquired a new position in Mallinckrodt PLC during the 1st quarter worth $223,000. Advisor Partners LLC acquired a new position in Mallinckrodt PLC during the 2nd quarter worth $242,000. Finally, Municipal Employees Retirement System of Michigan grew its holdings in Mallinckrodt PLC by 24.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 5,640 shares of the company’s stock worth $253,000 after acquiring an additional 1,110 shares in the last quarter. 97.40% of the stock is owned by institutional investors.
Shares of Mallinckrodt PLC (NYSE MNK) opened at 34.73 on Friday. Mallinckrodt PLC has a 12 month low of $33.61 and a 12 month high of $68.43. The company’s market capitalization 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 posted its earnings results on Tuesday, August 8th. The company reported $1.85 earnings per share for the quarter, topping 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 business had revenue of $824.50 million for the quarter, compared to analyst estimates of $829.56 million. During the same quarter in the prior year, the firm earned $2.03 EPS. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. Analysts forecast that Mallinckrodt PLC will post $7.40 EPS for the current year.
In other news, insider Meredith B. Fischer bought 1,280 shares of the stock in a transaction dated Wednesday, August 30th. The shares were acquired at an average price of $39.63 per share, with a total value of $50,726.40. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.77% of the stock is currently owned by corporate insiders.
Several research analysts have weighed in on the stock. Stifel Nicolaus reissued a “buy” rating on shares of Mallinckrodt PLC in a report on Friday, October 6th. Jefferies Group LLC reissued a “buy” rating and set a $60.00 price objective on shares of Mallinckrodt PLC in a report on Friday, October 6th. UBS AG set a $70.00 price objective on shares of Mallinckrodt PLC and gave the stock a “buy” rating in a report on Friday, October 6th. Piper Jaffray Companies reissued a “buy” rating and set a $67.00 price objective on shares of Mallinckrodt PLC in a report on Thursday, October 5th. Finally, Canaccord Genuity lowered shares of Mallinckrodt PLC from a “buy” rating to a “hold” rating and decreased their price target for the company from $77.00 to $40.00 in a report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $60.04.
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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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