Continental Advisors LLC purchased a new stake in shares of Mallinckrodt PLC (NYSE:MNK) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 38,600 shares of the company’s stock, valued at approximately $1,442,000.
Other hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC bought a new stake in Mallinckrodt during the 2nd quarter valued at $204,000. Advisor Partners LLC bought a new stake in Mallinckrodt during the 2nd quarter valued at $242,000. Municipal Employees Retirement System of Michigan increased its stake in Mallinckrodt by 24.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 5,640 shares of the company’s stock valued at $253,000 after purchasing an additional 1,110 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Mallinckrodt during the 2nd quarter valued at $260,000. Finally, Alps Advisors Inc. increased its stake in Mallinckrodt by 22.3% during the 2nd quarter. Alps Advisors Inc. now owns 6,465 shares of the company’s stock valued at $290,000 after purchasing an additional 1,179 shares in the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.
Several research firms have recently issued reports on MNK. Cantor Fitzgerald set a $52.00 target price on shares of Mallinckrodt and gave the stock a “buy” rating in a research note on Monday, October 2nd. Morgan Stanley reduced their target price on shares of Mallinckrodt from $40.00 to $27.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 8th. ValuEngine upgraded shares of Mallinckrodt from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. BMO Capital Markets reduced their target price on shares of Mallinckrodt to $38.00 and set an “outperform” rating for the company in a research note on Wednesday, November 8th. Finally, UBS lowered shares of Mallinckrodt from a “buy” rating to a “neutral” rating and set a $24.00 target price for the company. in a research note on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $48.14.
In other Mallinckrodt news, Director Dr Kneeland Youngblood acquired 4,560 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were acquired at an average cost of $21.94 per share, with a total value of $100,046.40. Following the completion of the acquisition, the director now directly owns 19,789 shares in the company, valued at $434,170.66. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Trudeau acquired 5,000 shares of the company’s stock in a transaction on Friday, November 10th. The shares were acquired at an average cost of $22.28 per share, for a total transaction of $111,400.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 30,460 shares of company stock valued at $659,486. 0.53% of the stock is owned by company insiders.
Mallinckrodt PLC (NYSE:MNK) traded up $1.05 on Monday, reaching $22.30. 3,086,000 shares of the company traded hands, compared to its average volume of 2,583,247. The company has a market capitalization of $2,118.61, a price-to-earnings ratio of 3.01, a P/E/G ratio of 0.40 and a beta of 1.30. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.38. Mallinckrodt PLC has a one year low of $19.00 and a one year high of $55.32.
Mallinckrodt (NYSE:MNK) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.80 by $0.17. The company had revenue of $793.90 million during the quarter, compared to analyst estimates of $808.93 million. Mallinckrodt had a net margin of 11.43% and a return on equity of 14.79%. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.04 earnings per share. equities analysts predict that Mallinckrodt PLC will post 7.2 EPS for the current year.
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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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