Mallinckrodt PLC (MNK) Stake Lowered by Boston Partners

Boston Partners decreased its position in Mallinckrodt PLC (NYSE:MNK) by 20.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,957 shares of the company’s stock after selling 15,695 shares during the quarter. Boston Partners owned approximately 0.06% of Mallinckrodt PLC worth $2,241,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Prudential Financial Inc. raised its position in shares of Mallinckrodt PLC by 114.9% in the third quarter. Prudential Financial Inc. now owns 1,379,978 shares of the company’s stock valued at $51,569,000 after purchasing an additional 737,791 shares during the period. Gabelli Funds LLC raised its position in shares of Mallinckrodt PLC by 28.3% in the third quarter. Gabelli Funds LLC now owns 186,000 shares of the company’s stock valued at $6,951,000 after purchasing an additional 41,000 shares during the period. State of Wisconsin Investment Board raised its position in shares of Mallinckrodt PLC by 41.1% in the third quarter. State of Wisconsin Investment Board now owns 373,119 shares of the company’s stock valued at $13,943,000 after purchasing an additional 108,696 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Mallinckrodt PLC by 7.9% in the third quarter. Canada Pension Plan Investment Board now owns 216,910 shares of the company’s stock valued at $8,106,000 after purchasing an additional 15,910 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Mallinckrodt PLC in the third quarter valued at approximately $666,000. 97.40% of the stock is currently owned by institutional investors.

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Shares of Mallinckrodt PLC (NYSE:MNK) opened at $22.38 on Monday. Mallinckrodt PLC has a 52 week low of $19.00 and a 52 week high of $58.09. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.38. The firm has a market cap of $2,126.21, a price-to-earnings ratio of 3.02, a price-to-earnings-growth ratio of 0.32 and a beta of 1.46.

Mallinckrodt PLC (NYSE:MNK) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.80 by $0.17. Mallinckrodt PLC had a net margin of 11.43% and a return on equity of 14.79%. The firm had revenue of $793.90 million for the quarter, compared to the consensus estimate of $808.93 million. During the same quarter in the previous year, the company earned $2.04 earnings per share. The business’s revenue was down 10.5% compared to the same quarter last year. equities analysts forecast that Mallinckrodt PLC will post 7.23 EPS for the current fiscal year.

MNK has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Mallinckrodt PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. UBS AG reissued a “buy” rating and issued a $70.00 price target on shares of Mallinckrodt PLC in a research report on Wednesday, September 6th. Cantor Fitzgerald reissued a “buy” rating and issued a $52.00 price target on shares of Mallinckrodt PLC in a research report on Thursday, November 2nd. BidaskClub raised shares of Mallinckrodt PLC from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $45.00 price target (down previously from $56.00) on shares of Mallinckrodt PLC in a research report on Thursday, September 14th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $48.14.

In related news, VP Steven J. Romano acquired 2,000 shares of the business’s stock in a transaction on Monday, November 13th. The stock was bought at an average cost of $21.96 per share, with a total value of $43,920.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Trudeau acquired 5,000 shares of the business’s stock in a transaction on Friday, November 10th. The shares were bought at an average cost of $22.28 per share, with a total value of $111,400.00. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 27,180 shares of company stock valued at $610,166. Company insiders own 0.53% of the company’s stock.

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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