Asset Management One Co. Ltd. Sells 2,292 Shares of Mallinckrodt PLC (MNK)

Asset Management One Co. Ltd. reduced its stake in Mallinckrodt PLC (NYSE:MNK) by 18.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,978 shares of the company’s stock after selling 2,292 shares during the period. Asset Management One Co. Ltd.’s holdings in Mallinckrodt PLC were worth $445,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MNK. Ladenburg Thalmann Financial Services Inc. increased its stake in Mallinckrodt PLC by 2.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,834 shares of the company’s stock valued at $143,000 after buying an additional 78 shares during the last quarter. Profund Advisors LLC increased its stake in Mallinckrodt PLC by 3.6% in the first quarter. Profund Advisors LLC now owns 6,399 shares of the company’s stock valued at $285,000 after buying an additional 220 shares during the last quarter. Rice Hall James & Associates LLC increased its stake in Mallinckrodt PLC by 2.9% in the first quarter. Rice Hall James & Associates LLC now owns 9,683 shares of the company’s stock valued at $432,000 after buying an additional 277 shares during the last quarter. Focused Wealth Management Inc increased its stake in Mallinckrodt PLC by 19.7% in the fourth quarter. Focused Wealth Management Inc now owns 2,426 shares of the company’s stock valued at $121,000 after buying an additional 400 shares during the last quarter. Finally, GLG LLC increased its stake in Mallinckrodt PLC by 6.8% in the fourth quarter. GLG LLC now owns 7,358 shares of the company’s stock valued at $367,000 after buying an additional 468 shares during the last quarter. Institutional investors own 96.96% of the company’s stock.

Institutional Ownership by Quarter for Mallinckrodt PLC (NYSE:MNK)

Mallinckrodt PLC (NYSE MNK) traded up 1.74% on Tuesday, hitting $44.40. The stock had a trading volume of 447,160 shares. The company’s 50 day moving average is $43.06 and its 200-day moving average is $47.52. Mallinckrodt PLC has a 12 month low of $38.80 and a 12 month high of $85.83. The stock’s market cap is $4.41 billion.

Mallinckrodt PLC (NYSE:MNK) last announced its quarterly earnings data on Monday, May 8th. The company reported $1.68 EPS for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.05. Mallinckrodt PLC had a return on equity of 16.33% and a net margin of 16.01%. The firm had revenue of $810.90 million for the quarter, compared to the consensus estimate of $781.23 million. During the same quarter last year, the business posted $2.01 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. Analysts forecast that Mallinckrodt PLC will post $7.55 EPS for the current year.

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A number of equities research analysts have issued reports on the company. Guggenheim set a $98.00 price target on Mallinckrodt PLC and gave the company a “buy” rating in a research note on Saturday, April 1st. Mizuho restated a “buy” rating and set a $73.00 price target on shares of Mallinckrodt PLC in a research note on Wednesday, May 31st. BidaskClub upgraded Mallinckrodt PLC from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Morgan Stanley set a $65.00 price target on Mallinckrodt PLC and gave the company a “buy” rating in a research note on Wednesday, May 31st. Finally, Jefferies Group LLC restated a “buy” rating and set a $70.00 price target on shares of Mallinckrodt PLC in a research note on Wednesday, May 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. Mallinckrodt PLC presently has a consensus rating of “Buy” and an average target price of $74.31.

In related news, VP Coleman N. Lannum III acquired 1,350 shares of Mallinckrodt PLC stock in a transaction that occurred on Friday, June 2nd. The shares were purchased at an average price of $42.89 per share, for a total transaction of $57,901.50. Following the completion of the transaction, the vice president now owns 30,955 shares in the company, valued at approximately $1,327,659.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Hugh M. O’neill acquired 1,000 shares of Mallinckrodt PLC stock in a transaction that occurred on Thursday, June 8th. The shares were bought at an average price of $40.24 per share, for a total transaction of $40,240.00. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 5,818 shares of company stock worth $248,608. 0.53% of the stock is currently owned by company insiders.

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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