Accident Compensation Corp trimmed its holdings in shares of Mallinckrodt PLC (NYSE:MNK) by 63.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,190 shares of the company’s stock after selling 24,200 shares during the period. Accident Compensation Corp’s holdings in Mallinckrodt were worth $530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Sterling Capital Management LLC acquired a new stake in Mallinckrodt in the 2nd quarter worth approximately $204,000. Advisor Partners LLC purchased a new stake in Mallinckrodt in the 2nd quarter worth $242,000. Municipal Employees Retirement System of Michigan increased its holdings in Mallinckrodt by 24.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 5,640 shares of the company’s stock worth $253,000 after acquiring an additional 1,110 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Mallinckrodt in the 2nd quarter worth $260,000. Finally, Alps Advisors Inc. increased its holdings in Mallinckrodt by 22.3% in the 2nd quarter. Alps Advisors Inc. now owns 6,465 shares of the company’s stock worth $290,000 after acquiring an additional 1,179 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.
Several equities research analysts recently commented on MNK shares. Stifel Nicolaus cut their price target on shares of Mallinckrodt from $70.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, November 8th. Zacks Investment Research lowered shares of Mallinckrodt from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Deutsche Bank set a $56.00 price target on shares of Mallinckrodt and gave the stock a “buy” rating in a report on Wednesday, August 9th. Piper Jaffray Companies set a $67.00 price target on shares of Mallinckrodt and gave the stock a “buy” rating in a report on Saturday, October 21st. Finally, Jefferies Group reissued a “buy” rating and issued a $60.00 price target on shares of Mallinckrodt in a report on Friday, October 6th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $48.14.
Shares of Mallinckrodt PLC (NYSE MNK) traded down $0.38 during mid-day trading on Thursday, hitting $21.35. 2,031,500 shares of the stock traded hands, compared to its average volume of 2,582,575. 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 $2,064.46, a PE ratio of 2.93, a price-to-earnings-growth ratio of 0.39 and a beta of 1.30. Mallinckrodt PLC has a 1 year low of $19.00 and a 1 year high of $55.32.
Mallinckrodt (NYSE:MNK) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.17. The firm had revenue of $793.90 million for the quarter, compared to analysts’ expectations of $808.93 million. Mallinckrodt had a net margin of 11.43% and a return on equity of 14.79%. The company’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.04 EPS. analysts expect that Mallinckrodt PLC will post 7.2 EPS for the current fiscal year.
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Mallinckrodt Company 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.
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