Trade Report: The Tealwood Asset Management Inc. invests in Mallinckrodt PLC (MNK) Shares

The Tealwood Asset Management Inc. invests in Mallinckrodt PLC (MNK) Shares

Tealwood Asset Management Inc. raised its stake in Mallinckrodt PLC (NYSE:MNK) by 4.0% during the second quarter, Holdings Channel reports. The institutional investor owned 35,839 shares of the company’s stock after buying an additional 1,373 shares during the period. Tealwood Asset Management Inc.’s holdings in Mallinckrodt PLC were worth $2,178,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MNK. Strs Ohio increased its position in shares of Mallinckrodt PLC by 0.4% in the second quarter. Strs Ohio now owns 861,671 shares of the company’s stock valued at $52,372,000 after buying an additional 3,057 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Mallinckrodt PLC by 202.8% in the first quarter. Canada Pension Plan Investment Board now owns 19,224 shares of the company’s stock valued at $1,178,000 after buying an additional 12,876 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Mallinckrodt PLC by 56.6% in the first quarter. JPMorgan Chase & Co. now owns 580,343 shares of the company’s stock valued at $35,563,000 after buying an additional 209,824 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Mallinckrodt PLC by 406.7% in the first quarter. Squarepoint Ops LLC now owns 66,058 shares of the company’s stock valued at $4,048,000 after buying an additional 53,022 shares during the last quarter. Finally, Creative Planning raised its stake in shares of Mallinckrodt PLC by 21.0% in the second quarter. Creative Planning now owns 8,702 shares of the company’s stock valued at $529,000 after buying an additional 1,512 shares during the last quarter. 94.67% of the stock is currently owned by institutional investors.

Mallinckrodt PLC (NYSE:MNK) traded down 1.31% during midday trading on Monday, hitting $64.96. The stock had a trading volume of 1,547,046 shares. The company’s 50-day moving average price is $72.28 and its 200 day moving average price is $66.89. Mallinckrodt PLC has a 52 week low of $50.90 and a 52 week high of $85.83. The company has a market capitalization of $7.00 billion, a PE ratio of 12.25 and a beta of 1.54.

Mallinckrodt PLC (NYSE:MNK) last issued its earnings results on Tuesday, August 2nd. The company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.20. Mallinckrodt PLC had a return on equity of 17.78% and a net margin of 16.39%. The business earned $970.60 million during the quarter, compared to analyst estimates of $920.35 million. During the same period in the previous year, the company posted $2.05 EPS. The firm’s revenue was up .6% compared to the same quarter last year. On average, analysts expect that Mallinckrodt PLC will post $7.63 EPS for the current year.

MNK has been the topic of several recent research reports. BMO Capital Markets initiated coverage on Mallinckrodt PLC in a report on Tuesday, June 28th. They set an “outperform” rating and a $84.00 price objective on the stock. Zacks Investment Research raised Mallinckrodt PLC from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Tuesday, July 5th. Vetr raised Mallinckrodt PLC from a “buy” rating to a “strong-buy” rating and set a $72.20 price objective on the stock in a report on Monday, July 11th. Mizuho lifted their price objective on Mallinckrodt PLC from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Thursday, July 21st. Finally, Leerink Swann set a $91.00 price objective on Mallinckrodt PLC and gave the stock a “buy” rating in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $92.40.

About Mallinckrodt PLC

Mallinckrodt public limited company (Mallinckrodt) is engaged in the specialty pharmaceuticals and nuclear imaging business. The Company develops, manufactures, markets and distributes specialty pharmaceutical and biopharmaceutical products, and nuclear imaging agents. The Company’s segments include Specialty Brands, Specialty Generics and Nuclear Imaging.

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