Oppenheimer & Co. Inc. trimmed its position in shares of Mallinckrodt PLC (NYSE:MNK) by 38.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 17,073 shares of the company’s stock after selling 10,581 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Mallinckrodt were worth $501,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in MNK. Guggenheim Capital LLC raised its holdings in Mallinckrodt by 17.1% during the first quarter. Guggenheim Capital LLC now owns 40,863 shares of the company’s stock valued at $592,000 after buying an additional 5,958 shares in the last quarter. Bank of Montreal Can raised its holdings in Mallinckrodt by 209.3% during the second quarter. Bank of Montreal Can now owns 63,822 shares of the company’s stock valued at $1,189,000 after buying an additional 43,190 shares in the last quarter. Jabodon PT Co. raised its holdings in Mallinckrodt by 18.4% during the second quarter. Jabodon PT Co. now owns 263,768 shares of the company’s stock valued at $4,922,000 after buying an additional 40,949 shares in the last quarter. James Investment Research Inc. bought a new position in Mallinckrodt during the second quarter valued at about $2,859,000. Finally, Hartford Investment Management Co. bought a new position in Mallinckrodt during the second quarter valued at about $293,000.
MNK has been the topic of several recent research reports. Canaccord Genuity restated a “hold” rating and set a $22.00 target price on shares of Mallinckrodt in a report on Monday, August 13th. Berenberg Bank initiated coverage on Mallinckrodt in a report on Friday, September 14th. They set a “sell” rating and a $25.00 target price on the stock. Mizuho restated a “hold” rating and set a $27.00 target price on shares of Mallinckrodt in a report on Tuesday. Zacks Investment Research lowered Mallinckrodt from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, Wells Fargo & Co restated a “hold” rating on shares of Mallinckrodt in a report on Wednesday, August 22nd. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $32.53.
Shares of NYSE:MNK opened at $31.17 on Friday. The stock has a market capitalization of $2.47 billion, a PE ratio of 4.12, a price-to-earnings-growth ratio of 0.40 and a beta of 1.71. Mallinckrodt PLC has a 52-week low of $11.65 and a 52-week high of $36.65. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.06 and a current ratio of 2.21.
Mallinckrodt (NYSE:MNK) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $2.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.79 by $0.31. The company had revenue of $640.00 million for the quarter, compared to the consensus estimate of $634.38 million. Mallinckrodt had a return on equity of 9.60% and a net margin of 65.24%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business posted $1.97 earnings per share. On average, sell-side analysts predict that Mallinckrodt PLC will post 7.09 earnings per share for the current year.
Mallinckrodt Company Profile
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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