Liberty Mutual Group Asset Management Inc. lessened its holdings in shares of Mallinckrodt PLC (NYSE:MNK) by 11.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,545 shares of the company’s stock after selling 2,166 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in Mallinckrodt were worth $309,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in MNK. BlackRock Inc. grew its holdings in shares of Mallinckrodt by 19.1% during the 2nd quarter. BlackRock Inc. now owns 9,649,420 shares of the company’s stock worth $180,057,000 after acquiring an additional 1,546,671 shares during the period. Scopia Capital Management LP grew its holdings in shares of Mallinckrodt by 111.2% during the 1st quarter. Scopia Capital Management LP now owns 8,626,365 shares of the company’s stock worth $124,910,000 after acquiring an additional 4,541,078 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Mallinckrodt by 8.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,422,787 shares of the company’s stock worth $82,531,000 after acquiring an additional 345,385 shares during the period. LSV Asset Management grew its holdings in shares of Mallinckrodt by 1.8% during the 2nd quarter. LSV Asset Management now owns 2,675,154 shares of the company’s stock worth $49,918,000 after acquiring an additional 48,437 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Mallinckrodt by 57.1% during the 2nd quarter. First Trust Advisors LP now owns 1,549,962 shares of the company’s stock worth $28,922,000 after acquiring an additional 563,419 shares during the period.
MNK has been the topic of a number of research analyst reports. Canaccord Genuity reiterated a “hold” rating and set a $22.00 target price on shares of Mallinckrodt in a report on Monday, August 13th. Wells Fargo & Co reiterated a “hold” rating on shares of Mallinckrodt in a report on Wednesday, August 22nd. Morgan Stanley dropped their price target on Mallinckrodt from $27.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 9th. Stifel Nicolaus boosted their price target on Mallinckrodt from $15.00 to $18.00 and gave the stock a “hold” rating in a research report on Monday, June 18th. Finally, Barclays set a $12.00 price target on Mallinckrodt and gave the stock an “underweight” rating in a research report on Wednesday, May 9th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $34.45.
Shares of MNK opened at $34.25 on Wednesday. The company has a current ratio of 2.27, a quick ratio of 2.06 and a debt-to-equity ratio of 0.98. Mallinckrodt PLC has a 52 week low of $11.65 and a 52 week high of $41.31. The company has a market capitalization of $2.87 billion, a PE ratio of 4.57, a P/E/G ratio of 0.57 and a beta of 1.55.
Mallinckrodt (NYSE:MNK) last issued its quarterly earnings results on Tuesday, August 7th. The company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.30. Mallinckrodt had a return on equity of 10.39% and a net margin of 59.85%. The firm had revenue of $631.70 million for the quarter, compared to analysts’ expectations of $621.15 million. analysts forecast that Mallinckrodt PLC will post 6.7 earnings per share for the current fiscal year.
Mallinckrodt public limited company develops, manufactures, markets, and distributes branded pharmaceutical products in Canada and the European Union, as well as in Latin American, the Middle Eastern, African, and the Asia-Pacific regions. The company markets branded pharmaceutical products for autoimmune and rare diseases in the specialty areas of neurology, rheumatology, nephrology, ophthalmology, and pulmonology; and immunotherapy and neonatal respiratory critical care therapies, as well as analgesics and gastrointestinal products.
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