HealthCor Management L.P. lowered its holdings in Mallinckrodt PLC (NYSE:MNK) by 92.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 284,400 shares of the company’s stock after selling 3,730,279 shares during the quarter. HealthCor Management L.P. owned about 0.30% of Mallinckrodt worth $6,416,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new position in Mallinckrodt during the 4th quarter worth approximately $129,000. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Mallinckrodt in the 4th quarter valued at approximately $190,000. Shelton Capital Management purchased a new position in shares of Mallinckrodt in the 3rd quarter valued at approximately $205,000. CIBC World Markets Inc. purchased a new position in shares of Mallinckrodt in the 4th quarter valued at approximately $231,000. Finally, Alps Advisors Inc. grew its stake in shares of Mallinckrodt by 48.6% in the 4th quarter. Alps Advisors Inc. now owns 10,652 shares of the company’s stock valued at $240,000 after purchasing an additional 3,485 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.
Mallinckrodt PLC (NYSE:MNK) opened at $16.45 on Monday. The company has a current ratio of 2.18, a quick ratio of 1.85 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $1,420.46, a price-to-earnings ratio of 2.19, a price-to-earnings-growth ratio of 0.35 and a beta of 1.06. Mallinckrodt PLC has a 1 year low of $15.27 and a 1 year high of $50.07.
Several research analysts have weighed in on MNK shares. Cantor Fitzgerald set a $42.00 target price on Mallinckrodt and gave the company a “buy” rating in a research note on Tuesday, December 26th. ValuEngine cut Mallinckrodt from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Goldman Sachs Group reissued a “hold” rating on shares of Mallinckrodt in a report on Tuesday, December 26th. Canaccord Genuity set a $24.00 price target on Mallinckrodt and gave the company a “hold” rating in a report on Tuesday, December 26th. Finally, Wells Fargo & Co reissued a “hold” rating on shares of Mallinckrodt in a report on Tuesday, December 26th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $42.14.
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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