LSV Asset Management Buys 244,753 Shares of Mallinckrodt PLC (NYSE:MNK)

LSV Asset Management raised its holdings in Mallinckrodt PLC (NYSE:MNK) by 24.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,249,612 shares of the company’s stock after buying an additional 244,753 shares during the quarter. LSV Asset Management owned approximately 1.26% of Mallinckrodt PLC worth $55,995,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Mallinckrodt PLC by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 10,247,891 shares of the company’s stock valued at $456,748,000 after buying an additional 103,924 shares during the period. BlackRock Inc. grew its holdings in Mallinckrodt PLC by 4,060.7% in the 1st quarter. BlackRock Inc. now owns 8,734,709 shares of the company’s stock valued at $389,307,000 after buying an additional 8,524,773 shares during the period. State Street Corp grew its holdings in Mallinckrodt PLC by 5.1% in the 1st quarter. State Street Corp now owns 5,197,656 shares of the company’s stock valued at $231,654,000 after buying an additional 250,838 shares during the period. Alliancebernstein L.P. grew its holdings in Mallinckrodt PLC by 1,455.5% in the 1st quarter. Alliancebernstein L.P. now owns 2,900,796 shares of the company’s stock valued at $129,288,000 after buying an additional 2,714,313 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Mallinckrodt PLC by 12.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,614,565 shares of the company’s stock valued at $71,968,000 after buying an additional 174,712 shares during the period. Institutional investors own 97.40% of the company’s stock.

Mallinckrodt PLC (NYSE MNK) opened at 34.83 on Monday. The firm has a 50 day moving average price of $37.65 and a 200-day moving average price of $42.88. The firm’s market capitalization is $3.38 billion. Mallinckrodt PLC has a 12 month low of $33.61 and a 12 month high of $76.81.

Mallinckrodt PLC (NYSE:MNK) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 15.28% and a net margin of 12.64%. The business’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.03 earnings per share. On average, equities analysts forecast that Mallinckrodt PLC will post $7.43 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “LSV Asset Management Buys 244,753 Shares of Mallinckrodt PLC (NYSE:MNK)” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US & international copyright legislation. The legal version of this piece of content can be accessed at https://ledgergazette.com/2017/09/25/lsv-asset-management-buys-244753-shares-of-mallinckrodt-plc-mnk.html.

In other Mallinckrodt PLC news, insider Meredith B. Fischer purchased 1,280 shares of the stock in a transaction on Wednesday, August 30th. The shares were purchased at an average price of $39.63 per share, with a total value of $50,726.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by insiders.

Several research firms have commented on MNK. Canaccord Genuity set a $87.00 price target on Mallinckrodt PLC and gave the company a “buy” rating in a report on Monday, July 17th. Cantor Fitzgerald began coverage on Mallinckrodt PLC in a report on Friday, June 16th. They issued an “overweight” rating and a $52.00 price target for the company. Morgan Stanley cut Mallinckrodt PLC from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $65.00 to $40.00 in a report on Wednesday, September 6th. Mizuho lowered Mallinckrodt PLC from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $70.00 to $40.00 in a research note on Wednesday, September 13th. Finally,

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Mallinckrodt PLC by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 10,247,891 shares of the company’s stock valued at $456,748,000 after buying an additional 103,924 shares during the period. BlackRock Inc. grew its holdings in Mallinckrodt PLC by 4,060.7% in the 1st quarter. BlackRock Inc. now owns 8,734,709 shares of the company’s stock valued at $389,307,000 after buying an additional 8,524,773 shares during the period. State Street Corp grew its holdings in Mallinckrodt PLC by 5.1% in the 1st quarter. State Street Corp now owns 5,197,656 shares of the company’s stock valued at $231,654,000 after buying an additional 250,838 shares during the period. Alliancebernstein L.P. grew its holdings in Mallinckrodt PLC by 1,455.5% in the 1st quarter. Alliancebernstein L.P. now owns 2,900,796 shares of the company’s stock valued at $129,288,000 after buying an additional 2,714,313 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Mallinckrodt PLC by 12.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,614,565 shares of the company’s stock valued at $71,968,000 after buying an additional 174,712 shares during the period. Institutional investors own 97.40% of the company’s stock.

Mallinckrodt PLC (NYSE MNK) opened at 34.83 on Monday. The firm has a 50 day moving average price of $37.65 and a 200-day moving average price of $42.88. The firm’s market capitalization is $3.38 billion. Mallinckrodt PLC has a 12 month low of $33.61 and a 12 month high of $76.81.

Mallinckrodt PLC (NYSE:MNK) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 15.28% and a net margin of 12.64%. The business’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.03 earnings per share. On average, equities analysts forecast that Mallinckrodt PLC will post $7.43 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “LSV Asset Management Buys 244,753 Shares of Mallinckrodt PLC (NYSE:MNK)” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US & international copyright legislation. The legal version of this piece of content can be accessed at https://ledgergazette.com/2017/09/25/lsv-asset-management-buys-244753-shares-of-mallinckrodt-plc-mnk.html.

In other Mallinckrodt PLC news, insider Meredith B. Fischer purchased 1,280 shares of the stock in a transaction on Wednesday, August 30th. The shares were purchased at an average price of $39.63 per share, with a total value of $50,726.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by insiders.

Several research firms have commented on MNK. Canaccord Genuity set a $87.00 price target on Mallinckrodt PLC and gave the company a “buy” rating in a report on Monday, July 17th. Cantor Fitzgerald began coverage on Mallinckrodt PLC in a report on Friday, June 16th. They issued an “overweight” rating and a $52.00 price target for the company. Morgan Stanley cut Mallinckrodt PLC from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $65.00 to $40.00 in a report on Wednesday, September 6th. Mizuho lowered Mallinckrodt PLC from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $70.00 to $40.00 in a research note on Wednesday, September 13th. Finally, Zacks Investment Research raised Mallinckrodt PLC from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $62.99.

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.

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

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