Tower Research Capital LLC TRC Acquires New Stake in Mallinckrodt PLC (MNK)

Tower Research Capital LLC TRC purchased a new stake in shares of Mallinckrodt PLC (NYSE:MNK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 19,526 shares of the company’s stock, valued at approximately $441,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. LS Investment Advisors LLC raised its position in Mallinckrodt by 27.1% during the third quarter. LS Investment Advisors LLC now owns 9,517 shares of the company’s stock valued at $356,000 after purchasing an additional 2,028 shares in the last quarter. Advantus Capital Management Inc raised its position in Mallinckrodt by 23.7% during the third quarter. Advantus Capital Management Inc now owns 12,286 shares of the company’s stock valued at $459,000 after purchasing an additional 2,352 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in Mallinckrodt by 15.6% during the third quarter. Oppenheimer & Co. Inc. now owns 20,731 shares of the company’s stock valued at $775,000 after purchasing an additional 2,792 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Mallinckrodt by 11.9% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,117 shares of the company’s stock valued at $1,088,000 after purchasing an additional 3,107 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its position in Mallinckrodt by 20.4% during the fourth quarter. Meeder Asset Management Inc. now owns 19,285 shares of the company’s stock valued at $435,000 after purchasing an additional 3,273 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Shares of Mallinckrodt PLC (MNK) opened at $16.15 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.38 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $1,536.23, a PE ratio of 4.30, a P/E/G ratio of 0.30 and a beta of 1.04. Mallinckrodt PLC has a 12 month low of $15.27 and a 12 month high of $54.90.

A number of research analysts have recently issued reports on MNK shares. Zacks Investment Research raised Mallinckrodt from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Canaccord Genuity set a $24.00 price objective on Mallinckrodt and gave the company a “hold” rating in a research note on Tuesday, December 26th. Goldman Sachs Group reaffirmed a “hold” rating on shares of Mallinckrodt in a research note on Monday, January 1st. Deutsche Bank cut Mallinckrodt from a “buy” rating to a “hold” rating and reduced their price objective for the company from $44.00 to $28.00 in a research note on Tuesday, November 7th. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of Mallinckrodt in a research note on Tuesday, December 26th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Mallinckrodt presently has an average rating of “Hold” and a consensus price target of $42.64.

In other Mallinckrodt news, Director Dr Kneeland Youngblood bought 4,560 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were bought at an average cost of $21.94 per share, with a total value of $100,046.40. Following the completion of the purchase, the director now directly owns 19,789 shares of the company’s stock, valued at $434,170.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.77% of the stock is owned by company insiders.

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Mallinckrodt 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 (NYSE:MNK)

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