Russell Investments Group Ltd. Decreases Stake in Mallinckrodt PLC (NYSE:MNK)

Russell Investments Group Ltd. lessened its stake in shares of Mallinckrodt PLC (NYSE:MNK) by 54.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 157,566 shares of the company’s stock after selling 190,038 shares during the period. Russell Investments Group Ltd. owned 0.19% of Mallinckrodt worth $1,442,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC grew its position in Mallinckrodt by 1,239.3% in the 2nd quarter. Parallel Advisors LLC now owns 3,000 shares of the company’s stock valued at $28,000 after acquiring an additional 2,776 shares in the last quarter. Coastal Capital Group Inc. purchased a new stake in Mallinckrodt in the second quarter valued at approximately $31,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in Mallinckrodt by 151.0% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,173 shares of the company’s stock valued at $84,000 after buying an additional 5,519 shares during the last quarter. Teza Capital Management LLC purchased a new stake in Mallinckrodt in the second quarter valued at approximately $92,000. Finally, Anderson Fisher LLC lifted its stake in Mallinckrodt by 1,129.1% in the first quarter. Anderson Fisher LLC now owns 5,285 shares of the company’s stock valued at $115,000 after buying an additional 4,855 shares during the last quarter.

Shares of Mallinckrodt stock remained flat at $$2.44 during trading hours on Friday. The stock had a trading volume of 23,964,619 shares, compared to its average volume of 15,060,142. Mallinckrodt PLC has a twelve month low of $1.43 and a twelve month high of $32.34. The company has a quick ratio of 0.57, a current ratio of 0.78 and a debt-to-equity ratio of 1.57. The firm has a 50-day simple moving average of $3.95 and a 200-day simple moving average of $11.84. The firm has a market capitalization of $212.54 million, a PE ratio of 0.29, a price-to-earnings-growth ratio of 0.02 and a beta of 2.42.

Mallinckrodt (NYSE:MNK) last released its quarterly earnings results on Tuesday, August 6th. The company reported $2.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.10 by $0.43. Mallinckrodt had a positive return on equity of 18.96% and a negative net margin of 111.46%. The business had revenue of $823.30 million during the quarter, compared to analysts’ expectations of $817.55 million. During the same quarter in the prior year, the business earned $2.16 earnings per share. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, research analysts predict that Mallinckrodt PLC will post 8.48 EPS for the current year.

A number of equities research analysts have weighed in on the company. ValuEngine cut Mallinckrodt from a “hold” rating to a “sell” rating in a research note on Monday, September 16th. Wells Fargo & Co reduced their price objective on Mallinckrodt from $25.00 to $11.00 and set a “market perform” rating for the company in a research note on Thursday, June 6th. Mizuho reduced their price objective on Mallinckrodt from $22.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, May 28th. Cantor Fitzgerald set a $18.00 price objective on Mallinckrodt and gave the company a “buy” rating in a research note on Friday, July 12th. Finally, Morgan Stanley set a $5.00 price objective on Mallinckrodt and gave the company a “hold” rating in a research note on Friday, August 9th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $10.19.

About Mallinckrodt

Mallinckrodt plc, together with its subsidiaries, develops, manufactures, markets, and distributes specialty pharmaceutical products and therapies in the United States, Europe, the Middle East, Africa, and internationally. It operates in two segments, Specialty Brands, and Specialty Generics and Amitiza.

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Institutional Ownership by Quarter for Mallinckrodt (NYSE:MNK)

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