Swiss National Bank cut its position in shares of Mallinckrodt PLC (NYSE:MNK) by 2.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 370,026 shares of the company’s stock after selling 11,100 shares during the quarter. Swiss National Bank owned 372,446.90% of Mallinckrodt PLC worth $13,828,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of MNK. Sterling Capital Management LLC acquired a new position in shares of Mallinckrodt PLC during the 2nd quarter valued at $204,000. Advisor Partners LLC acquired a new position in shares of Mallinckrodt PLC during the 2nd quarter valued at $242,000. Municipal Employees Retirement System of Michigan increased its position in shares of Mallinckrodt PLC 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 during the period. OMERS ADMINISTRATION Corp acquired a new position in shares of Mallinckrodt PLC during the 2nd quarter valued at $260,000. Finally, Alps Advisors Inc. increased its position in shares of Mallinckrodt PLC 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 during the period. Institutional investors own 97.40% of the company’s stock.
MNK has been the topic of several research analyst reports. Zacks Investment Research upgraded Mallinckrodt PLC from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Oppenheimer Holdings, Inc. set a $70.00 price target on Mallinckrodt PLC and gave the company a “buy” rating in a research report on Friday, July 28th. BMO Capital Markets reiterated a “buy” rating and set a $69.00 price target on shares of Mallinckrodt PLC in a research report on Friday, July 28th. Jefferies Group LLC reiterated a “buy” rating and set a $70.00 price target on shares of Mallinckrodt PLC in a research report on Thursday, August 3rd. Finally, Piper Jaffray Companies set a $85.00 price target on Mallinckrodt PLC and gave the company a “buy” rating in a research report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $48.14.
In other news, VP Steven J. Romano acquired 2,000 shares of Mallinckrodt PLC stock in a transaction that occurred on Monday, November 13th. The stock was purchased at an average price 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 available at this hyperlink. Also, Director David R. Carlucci acquired 10,000 shares of Mallinckrodt PLC stock in a transaction that occurred on Thursday, November 9th. The shares were purchased at an average cost of $21.83 per share, with a total value of $218,300.00. Following the transaction, the director now owns 26,020 shares of the company’s stock, valued at approximately $568,016.60. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 27,180 shares of company stock valued at $610,166. Insiders own 0.53% of the company’s stock.
Shares of Mallinckrodt PLC (NYSE MNK) opened at $22.38 on Monday. The company has a market capitalization of $2,126.21, a price-to-earnings ratio of 3.02, a PEG ratio of 0.32 and a beta of 1.46. The company has a quick ratio of 1.05, a current ratio of 1.38 and a debt-to-equity ratio of 1.08. Mallinckrodt PLC has a 12-month low of $19.00 and a 12-month high of $58.09.
Mallinckrodt PLC (NYSE:MNK) last issued its earnings results on Tuesday, November 7th. The company reported $1.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.17. The business had revenue of $793.90 million during the quarter, compared to analysts’ expectations of $808.93 million. Mallinckrodt PLC had a return on equity of 14.79% and a net margin of 11.43%. Mallinckrodt PLC’s revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.04 earnings per share. research analysts expect that Mallinckrodt PLC will post 7.23 EPS for the current year.
About Mallinckrodt PLC
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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